QUESTION THREE [30]

3.1. There are three characteristics that distinguish the entrepreneurial venture from the small business. In light of these three characteristics, critically discuss how the principal objectives are directed to bring about profitability and growth. (15)

3.2. Invented around 4000 BCE, the wheel is one of the earliest recorded innovations. While its often forgotten as an innovative product, it continues to have an impact. Its inventive design addressed a common pain point around moving multiple heavy objects at once. The result was a circular frame that allows users to transport many heavy items in a short time. Its significance is still felt today and has led to additional breakthroughs, such as carriages and todays more modern transportation methods.

Source: https://online.hbs.edu/blog/post/innovative-product-examples

Examine the abstract provided and critically discuss how the 4P model of creativity were put into effect when the wheel was invented around 4000 BCE. (15)