Companies That Successfully Innovate Usually Have All of the Following

question 1

Multiple Choice

Companies that successfully innovate usually have all of the following characteristics except:

• A) people in research and marketing actively work with customers to understand their needs and develop solutions.
• B) technical specialists are aware of recent developments and make effective use of new technology.
• C) a shared new product process that is advocated and supported by top management cuts across organizational functions and units.
• D) members from key departments work separately in the development of the new product or service.
• E) each project is guided by a core cross-functional team from beginning to end.

---

Definitions:

Pure Monopoly

A market structure where a single seller controls the entire market for a particular good or service, with no close substitutes.

Fair-return Price

A price that allows a company to cover its costs and make a reasonable profit.

Short Run

A period in economics where at least one input is considered fixed in the production process.

Natural Monopoly

A market condition where a single firm can provide a good or service at a lower cost than any potential competitor, often due to economies of scale.