George Santayana,Spanish Philosopher Once Said,"Those Who Cannot Remember the Past

question 18

Multiple Choice

George Santayana,Spanish philosopher once said,"Those who cannot remember the past are condemned to repeat it." Applied to the organizational problems in new-product failure,this is really an example of

• A)not listening to the "voice of the consumer."
• B)encountering "groupthink" in meetings.
• C)skipping stages in the new-product process.
• D)not learning critical takeaway lessons from earlier failures.
• E)avoiding the "NIH problem."

---

Definitions:

Economic Organization

The structured systems and institutions through which economic activity is conducted and regulated, including markets, firms, and government agencies.

Capital Stock

The total value of all physical assets owned by a company or country, used in the production of goods and services.

Comparative Advantage

The economic principle that a country or entity benefits by producing goods or services for which it has a lower opportunity cost than its trading partners.

Resource Employment

The utilization of economic resources, including labor, capital, and materials, in the production of goods and services.