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Describe Internal Innovation, and the Two Types of Internal Innovation

question 42

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Describe internal innovation, and the two types of internal innovation. What are the advantages and disadvantages of organizations relying on internal innovation?


Definitions:

Credit Balance

A situation where the total credits in an account exceed the total debits, often reflecting a company's liability or revenue.

Notes Receivable

Claims or promissory notes that entitle the holder to receive payments from debtors, typically in the future, and recorded as assets on the balance sheet.

Deposit Method

An accounting approach used for recognizing revenue and expenses related to transactions where payment is received before the delivery of goods or services.

Sales Price

The amount of money for which a product or service is sold in the marketplace.

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