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The innovation strategy for changing products and technologies that involves managers putting in place processes and structures to ensure that new ideas are carried forward for acceptance and implementation is known as
Sunk Cost
A cost that has already been incurred and cannot be recovered.
Intermediate Product
A product that is a result of a process but is also used as an input in the production of a final or finished product.
Differential Revenue
The amount of increase or decrease in revenue expected from a particular course of action as compared with an alternative.
Differential Cost
The amount of increase or decrease in cost expected from a particular course of action compared with an alternative.
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