A Focused Organizational Effort to Create a New Product or Process

question 104

Multiple Choice

A focused organizational effort to create a new product or process via technological advances is called

• A) A development project.
• B) A sociotechnical system.
• C) Benchmarking.
• D) Technology scanning.
• E) Technological strategy.

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Definitions:

Purchases Discount

A reduction in price given by a seller to a buyer for paying an invoice within a specified time frame.

Early Payment

A payment made before its due date, often incentivized by discounts or to avoid interest charges.

Early Payment Discount

An incentive offered by sellers to buyers for paying their invoices before the due date, typically to accelerate cash flows.

Gross Profit

Gross profit is the difference between revenue and the cost of goods sold (COGS), representing the profit a company makes after deducting the costs directly associated with producing its goods or services.