Why Is Innovation a Key Component of a Manager's Job

question 37

Multiple Choice

Why is innovation a key component of a manager's job in today's business environment?

• A)Innovation keeps employees on their toes.
• B)Innovation gives companies a "fresh" image without changing much real substance.
• C)New approaches are always superior to old approaches.
• D)Innovation efforts are needed in all types of organizations.

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Definitions:

Market Segmentation

The process of dividing a target market into smaller, more definable categories based on characteristics such as demographics or consumer behavior.

Mobile Technology

Technologies related to portable computing devices such as smartphones and tablets that allow users to access services and information on the go.

Market-Product Combination

The pairing of a specific market segment with a particular product or service, tailored to meet the segment's needs.

Infomercials

Program-length (30-minute) advertisements that take an educational approach to communication with potential customers.