Successful Companies Employ a High Quality New Product Development Process

question 63

Multiple Choice

Successful companies employ a high quality new product development process. Among high performing firms,

• A)the new product process was flexible-certain stages could be skipped in line with the nature and risk of a particular project.
• B)tough project Go/Kill decision points are included in the process and the Kill option is actually used.
• C)market and technical assessments are conducted before projects move into the development phase.
• D)all of the above.
• E)(b)and (c)only.

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Definitions:

Social Communication

The exchange of information and expression of thoughts, feelings, and ideas through verbal and non-verbal means within a social context.

Loss Aversion

A principle in behavioral economics suggesting that individuals are more sensitive to losses than to equivalent gains, leading to risk-averse decision-making.

Schemas

Mental structures that organize our knowledge and assumptions about something and are used for interpreting and processing information.

Problem Solving

The process of identifying a problem, developing possible solution paths, and taking the appropriate course of action.