Open Innovation Is

question 230

Multiple Choice

Open innovation is

• A) a clear plan for new product distribution that will ensure access for all potential customers within the first year of release.
• B) a formal and comprehensive analysis of competitors' products to discover ideas for product improvements.
• C) an unlimited budget that can be spent for the marketing program for a new product.
• D) designing a product around specific customers' needs, wants, and preferences.
• E) the practices and processes that encourage the use of external and internal ideas and collaboration when conceiving, producing, and marketing new products.

---

Definitions:

Foreign Governments

Foreign governments refer to the official governing bodies of nations other than one’s own, involved in international relations and diplomacy.

Government

Government is the system or group of people governing an organized community, often a state, setting and administrating public policy and exercising executive, political, and sovereign power.

National Security Council

A federal agency within the executive branch that advises the President on domestic, foreign, and military matters related to the nation's security.

Senate Foreign Relations Committee

A committee of the United States Senate responsible for overseeing foreign policy legislation and foreign aid.