Because Firms Must Be Developing New Products All the Time

question 91

Multiple Choice

Because firms must be developing new products all the time, which of the following statements is true?

• A) Competitors are likely to rapidly introduce product improvements in the market growth stage.
• B) The developed economies experience technological advances quicker than the less-developed economies.
• C) Although the life of different products varies, product life cycles are getting shorter.
• D) One new invention may make possible many new products to replace old ones.
• E) All of these statements are true.

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Definitions:

Accomplishes

Achieves or completes successfully.

Organization Design

Refers to the framework of jobs, positions, clusters of positions, and reporting relationships among positions that are used to construct an organization.

M-form Design

A type of organizational structure known as the Multidivisional form, characterized by a series of semi-autonomous divisions that are responsible for different products or markets, overseen by a central headquarters.

Functional Design

An approach to designing products, services, or systems that focuses on practicality and performance, meeting specific objectives and user needs.