If a Product Champion Lacks the Power and Financial Resources

question 112

True/False

If a product champion lacks the power and financial resources to initiate innovations alone, he or she seeks sponsorship from an executive champion.

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Definitions:

Variable Factor

An input or resource whose quantity can be changed in the short run to adjust production levels.

Total Output

The total quantity of goods or services produced by an economy or firm in a given period.

Total Product Curve

A graph that illustrates the total quantity of output produced by a firm as a function of the total quantity of a single input used, holding all other inputs constant.

Variable Input

Any production input that can be varied in the short term to increase or decrease output, such as labor or raw materials.