If a Company Wants to Be Innovative, Which Strategy Are

question 57

Multiple Choice

If a company wants to be innovative, which strategy are they most likely to use?

• A) market penetration
• B) product development
• C) market development
• D) diversification

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Definitions:

Intelligence

All-purpose ability to do well on cognitive tasks, to solve problems, and to learn from experience.

Genetics

The branch of biology that studies heredity and the variations in organisms caused by the transmission of genetic material from parents to offspring.

Illusory Correlation

This is the cognitive phenomenon of perceiving a relationship between variables (typically people, events, or behaviors) even when no such relationship exists.

Sunk Fallacy

A cognitive bias that compels people to continue investing in a project or decision based on the cumulative prior investment (time, money, resources), despite new evidence suggesting that the cost, moving forward, outweighs the expected benefit.