Why Is Product/process Innovation an Important Driver of Firm Performance

question 36

Multiple Choice

Why is product/process innovation an important driver of firm performance?

• A)Speed, quality, and efficiency of innovation
• B)The "wow" factor of innovation
• C)The ability to imitate as well as innovate
• D)Relentless pursuit of perfection

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Definitions:

Bargaining Agent Status

The official recognition of a union as the representative of a group of employees for the purposes of collective bargaining.

Certification

The process of formally validating the qualifications, competence, or authority of an individual or organization in a specific area.

Binding Arbitration

A dispute resolution process where an arbitrator's decision is legally enforceable, requiring parties to abide by the decision without appeal to a court.

Conciliation

A voluntary process where a conciliator helps disputing parties to reach a mutually acceptable agreement.