A Significant Amount of Innovation Yields No New Products or Services

question 14

Multiple Choice

A significant amount of innovation yields no new products or services because:

• A)companies consider research and development a waste of resources.
• B)the chief purpose of innovation is to further scientific knowledge rather than create products or services.
• C)of R&D failure.
• D)the innovations are not related to a company's core processes.
• E)of the dearth of new ideas.

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Definitions:

Generate Revenues

The process of bringing in money from sales of goods or services that a company offers to its customers.

Identifying Alternatives

The process of defining and evaluating different options or courses of action in decision-making.

Lean Business Model

A philosophy that emphasizes eliminating waste while delivering products or services that meet customer needs.

Elimination of Waste

This term typically refers to efforts to reduce non-value-adding activities in a process, often in the context of lean manufacturing or production to improve efficiency and effectiveness.