General Knowledge
Incentives for innovating, internal policy and organisational culture belong to a a category or type of factor,
What is micro/organisational level?
Social, political, economic, environmental, cultural and ethical are said to belong to a specific category of factors
What is macro/national factors?
The two conditions for effective innovation in entrepreneurship
What is micro level and macro level?
Organisational level factors are also called something else
What is micro?
National level factors are also known as something else
What is macro?
This often encompasses values and behaviors that contribute to the unique social and psychological environment of an organization
What is organisational culture?
When bonuses, job promotions, recognition etc. are included a specific factor is looked at
Incentives
Principles, rules, and guidelines formulated or adopted by an organization to reach its long-term goals belong to a certain type of factor
What is internal policy?
This is a part of a particular factor where inspiration, observation, listening to consumer and organisational structure is applied a particular way
What is organisational structure
This is the level where policy is developed
What is macro/national level?
This factor is when the government must offer good and stable governance so that entrepreneurship may be encouraged and sustained within Caribbean economies.
What is political factor?
This factor is to provide and encourage the protection for intellectual property. The government can also provide grants and subsidies to reduce the cost of innovation to businesses especially the small business sector.
What is economic?
This factor is where policies will ensure that there is not a gradual breakdown of the environmental system as a result of innovation. If businesses do not exhibit environmental responsibility there can be social costs linked to the innovation.
What is environmental?
This factor is where there must be respect for indigenous customs and practices. The government must therefore ensure that the innovation does not displace the customs of any groups in the society.
What is cultural?
This factor is where moral principles and guidelines and businesses involved in innovation must avoid both lawsuits AND violating rights of individuals and entities.
What is ethical?