Product Innovation Is a Change in the

question 111

Multiple Choice

Product innovation is a change in the

• A)way the outputs of an organization are produced.
• B)way the organization creates and delivers value.
• C)outputs the organization produces.
• D)value of the product alone.
• E)product focus of the organization.

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Definitions:

Term Loans

Loans from financial institutions that are repaid over a set period of time with scheduled payments.

Personal Guarantees

A commitment by an individual to repay a debt if the original borrower defaults, often required in business loans.

Joint and Severable

A legal term indicating that all parties in a contract are equally responsible for fulfilling the terms of the agreement, and each can be held fully accountable.

Interest Rates

The cost of borrowing money or the return on investment, expressed as a percentage of the principal, that lenders charge or pay over a specific period.