When Innovative Ideas Are Extracted from the External Environment by Holding

question 312

Multiple Choice

When innovative ideas are extracted from the external environment by holding design competitions and/or using crowdsourcing to broadcast design problems to a large audience of potential innovators it is often called

• A)free innovation.
• B)crowd innovation.
• C)open innovation.
• D)environmental innovation.
• E)modern innovation.

---

Definitions:

Manufacturing Overhead-Applied

Indirect costs related to manufacturing that are assigned to products based on a predetermined rate.

Overhead Applied Rate

A rate calculated to allocate indirect costs to cost objects based on a predetermined formula.

Direct Labor Hours

The total time workers or employees spend directly working on goods or services that are being produced.

Work-in-Process Inventory

Inventory that includes materials that are currently in the process of being fabricated into finished goods.