The New-Product Development Process an Organization Goes Through to Identify

question 33

Multiple Choice

The new-product development process an organization goes through to identify business opportunities and convert them into salable products or services contains

• A) three main steps: research, production, and distribution.
• B) four distinct steps: research, evaluation, production, and distribution.
• C) five key phases ranging from idea generation to creating the first prototype.
• D) seven stages from new-product strategy development to commercialization.
• E) three phases: planning, implementation, and evaluation.

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Definitions:

Employee Referral

A recruitment method where existing employees recommend potential candidates for open positions within their organization.

External Job Recruitment

The process of filling job vacancies within an organization by hiring individuals from outside the organization.

Relevant Labor Market

The area or domain within which companies seek employees who have the skills they require.

Availability Analysis

An assessment to determine the availability of qualified individuals both within and outside the organization who could fill job openings.