Identify and Briefly Describe the Three Things That Companies Need

question 103

Essay

Identify and briefly describe the three things that companies need to be good at in order to successfully manage innovation streams. Explain why managing these factors is important. Specify which one of the three might tend to be more influenced by organizational culture and less influenced by the manager's own personal ability.

---

Definitions:

Price

The cost at which something is being sold, reflecting the value that consumers or purchasers assign to a good or service.

Utility

An economic term referring to the total satisfaction received from consuming a good or service.

Marginal Utility

The increased gratification or utility derived from the consumption of an extra unit of a good or service.

Energy Drink

A type of beverage containing stimulant compounds, usually caffeine, that is marketed as providing mental and physical stimulation.