Innovative Organizations That Rely on New Product Development and Organizational

question 38

True/False

Innovative organizations that rely on new product development and organizational flexibility require employees with a narrower range of aptitudes and abilities,while organizations in narrow,relatively stable markets rely on a low-cost strategy.

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Definitions:

Average Costs

The total cost of production divided by the quantity of output produced, indicating the cost of producing each unit.

Exhibits

Displays or presentations, often in museums or galleries, that showcase artifacts or works of art for public viewing.

Economies of Scale

Refer to the cost advantages that enterprises obtain due to their scale of operation, typically resulting in the reduction of cost per unit.

Diseconomies of Scale

The phenomenon when a company or business grows so large that the costs per unit increase, leading to inefficiency.