Explain in a Short Paragraph the Role That Finance Plays

question 54

Essay

Explain in a short paragraph the role that finance plays in New Product Development (NPD)
The third step in the cycle of satisfaction is to verify the financial viability of new products.
Finance and accounting are the firm's scorekeepers, and they communicate performance results throughout the organization and to the outside world.
Finance is a tool for monitoring and managing business activities.
Finance plays an important role in almost all activities of an organization. Right from planning and design to marketing and sales.

---

Definitions:

Management Philosophy

A set of beliefs and principles that guide how a manager approaches leadership, decision-making, and interactions within an organization.

News Release

An official statement issued to the media and other stakeholders to announce something newsworthy.

Publicity

A nonpersonal, indirectly paid presentation of an organization, product, or service.

Product Line

A group of related products marketed by a company under a single brand name.