When Evaluating Risks in the Idea Screening Phase,if a Firm

question 6

Multiple Choice

 When evaluating risks in the idea screening phase,if a firm is found to lack the necessary resources or expertise,it should:

• A) reject the new product idea.
• B) not act too hastily in discounting the new product idea.
• C) ignore the risks and commercialize the new product idea.
• D) consider other alternatives.

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Definitions:

Missions

The fundamental purpose or objectives of an organization, defining its scope of actions and reasons for existing.

Directions

Guidance or instructions on how to perform a task or reach a destination.

Strategic Planning

A process utilized by organizations to identify long-term goals, develop actionable strategies to achieve those goals, and allocate resources appropriately.

Rational Decision-Making

A process of making decisions based on logical and systematic analysis of available information and alternatives.