An Entrepreneurial Mind-Set, Cross-Functional Product Development Teams, and Shared Values/leadership

question 59

True/False

An entrepreneurial mind-set, cross-functional product development teams, and shared values/leadership are the three ways that firms implement internal innovations.

---

Definitions:

Overhead Cost

Indirect expenses related to the operation of a business, such as rent, utilities, and administration costs.

Materials Used

The raw components or supplies consumed during the manufacturing process to produce goods.

Work in Process Inventory

Goods that are in the process of being produced but are not yet finished in a manufacturing company.

Actual Overhead

The real costs incurred for overhead in production processes, as opposed to budgeted or estimated costs.