A Novel Product Idea That Involves a Large Financial Investment

question 49

Multiple Choice

A novel product idea that involves a large financial investment would be described as

• A)high innovation/low risk.
• B)high innovation/high risk.
• C)low innovation/low risk.
• D)low innovation/high risk.
• E)low innovation/uncertain risk.

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Definitions:

Participation

Involvement of individuals or groups in decision-making processes within an organization to improve commitment and outcomes.

Ownership

The state or right of possessing something, which can be anything from physical objects to intellectual property or businesses.

Needs Analysis

A systemic process of identifying and evaluating needs as a basis for planning interventions to address gaps between current conditions and desired conditions.

Managing Change

The process of overseeing and guiding adjustments or transformations within an organization to achieve desired results while minimizing disruption.