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.

---

Definitions:

Loss Aversion

Oversensitivity to loss, leading to an unwillingness to recognize a loss and move on.

Mental Accounting

The habit of mentally assigning dollars to different accounts so that some dollars are worth more than others.

Overconfidence

The phenomenon where an individual's subjective confidence in their judgments is reliably greater than their objective accuracy.

Irrational Decisions

Choices made by individuals that contradict the best outcome from a rational point of view, often influenced by biases or lack of information.