Which of the Following Statements Holds True for Process Innovation

question 85

Multiple Choice

Which of the following statements holds true for process innovation?

• A)It refers to the generation of new business ideas through input from employees beyond a company's R&D department and even going outside the firm to enlist contributions from experts, customers, suppliers, and competitors.
• B)It refers to companies setting up joint collaborative ventures with rival organizations to make improvements in the manufacturing process.
• C)It refers to the implementation of a new or significantly improved process.
• D)It refers to the innovation by consumers and end users, who are using (or want to use)the product in new ways beyond what the company originally intended.
• E)It refers to companies setting up joint collaborative ventures with governmental organizations to improve the manufacturing process.

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Definitions:

Emerging Technologies

New, innovative technologies that are currently developing or will be developed over the next few years, and which are expected to significantly alter the business and social environment.

Product Quality

Refers to the degree to which a product or service meets or exceeds customer expectations.

Special Features

Unique or distinguishing attributes or aspects of a product, service, or entity that provide additional value.

Differentiation

A strategy businesses use to make their products or services stand out from competitors', often through unique features or superior quality.