Final exam Assignment Example | Topics and Well Written Essays - 1000 words - 3

Final exam - Assignment Example The second innovation is Google Glasses that is creative as it performs many functions that are similar to the iPhone and Android but the method of use is better and more effective. They were created by Google’s X Lab owing to the numerous complaints about Smart Phones. The major investors behind the innovation are John Doerr of Kleiner Perkins Caufield & Byers, John Doerr of Kleiner Perkins Caufield and Bill Maris of Google Ventures (Loth).This new innovation can transform the world by increasing the speed of transactions. The third innovation is the hybrid car technology that was invented in the 19th century. The innovation was introduced by Jacob Lohner whose main aim was to minimize the unpleasant smells and noises produced by regular automobiles. This idea faded away but Toyota brought it back in 1997 with the introduction of their Prius model in 1997 (Berman, 2007). This model is aimed at address important issues such as global warming and pollution. Question 1(c) Innova tion has been in existence for the longest time in history. It takes place when people come up with better ad innovative ways of doing things thereby coming up with solutions to existing problems. Innovation can be in different forms from product to service development. It should be taught and practiced in classes and firms that promote entrepreneurship. Question 2: Unmet Need Analysis Question 2 (a) One of my classmates came up with an innovation that is based on innovation of a hybrid car system. The major issues facing implantation of the innovation is that fuel is readily available in Saudi Arabia and hybrid cars are more expensive. On the other hand, my project is aimed at improving the livelihood of poor anglers by providing an efficient and affordable way of fishing and is already being used in various parts of the world. Question 2 (b) Implementation of this innovation in Saudi Arabia would be difficult as the country is a crude oil supplier, therefore, fuel is always availa ble. Secondly, convincing the audience to purchase a relatively expensive car will be hard. Question 3: Entrepreneurial Role Models Question 3 (a) I learnt about different entrepreneurs last semester however, two of the most influential entrepreneurs are Richard Branson and Donald Trump. Richard Branson is one of the most influential entrepreneurs in the modern times and has led Virgin Group to be one of the most competitive companies in the airline sector (Dearlove 69). Branson is not only the CEO of the Virgin Group but also acts the company’s brand as he features in advertising and television shows. Donald Trump is evidently the most successful entrepreneur in the US and world over (Dearlove 69). He is a business genius who succeeds in everything he does. His name also has a positive impact on the company’s brand. Question 3 (b) These entrepreneurs show Bower’s entrepreneurial patterns of behavior including creativity, the ability to think come up with soluti ons that are outside the box, the ability to take strategic risks and the ability to bounce back from failure (Bowers 45). Branson is a risk taker whose risks have paid off through the successful business ventures. Branson shows the delusion of grandeur pattern that is stated in Bower’s pattern. He always aims to reach the sky even when the targets appear to be too much. He challenges himself and those who work for him to