Question

In order to stimulate innovation, Harlose Inc. allows its researchers to devote 2-3 hours of their normal work schedule to pursue their own ideas and projects. Which of the following approaches is the company using in this case to stimulate innovation?A. Using Web enlistingB. Using basic researchC. Allowing self-dealingD. Catering to entrepreneurs

Answer 1

Answer:

D) Catering to entrepreneurs

Explanation:

Catering to entrepreneurship is a business practice carried out by corporations that generally seek to purchase start ups for the new technologies that they developed (including patents) rather than for their business model or profits. E.g. [email protected] paid $2 billion for Oculus, and Google acquired Nest for $3.2 billion. None of these companies actually made any money, but the innovations that they develop may generate a lot of money if they are backed up by a major player.  

In this case, catering for entrepreneurs is a similar concept applied within an organization that tries to foster innovations.