To Speed Product Development and Promote Innovation, Managers Should Avoid

question 27

Multiple Choice

To speed product development and promote innovation, managers should avoid

• A)forcing a structured process for evaluating ideas.
• B)funding too many project ideas at one time.
• C)tailoring products to meet customer demands.
• D)allowing team members to waste time brainstorming.
• E)establishing a stage-gate funnel.

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Definitions:

Production Possibilities Frontier

A graph that shows the combinations of two goods the economy can possibly produce given the available resources and technology.

Unemployed Resources

Assets, labor, or capital that are available but not currently being used in the production of goods or services.

Production Possibilities Frontier

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

Technological Improvement

Technological Improvement refers to advancements in technology that increase productivity and efficiency in the production of goods and services.