Organizations Can Prevent the Embarrassment and Potential Financial Ruin Caused

question 57

True/False

Organizations can prevent the embarrassment and potential financial ruin caused by whistle-blowing by creating an internal system that gives whistle-blowers the option of being heard, thus resolving the issue in private.

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Definitions:

Innovation

The first commercially successful introduction of a new product, use of a new method of production, or creation of a new form of business organization.

Invention

The conception of a new product or process combined with the first proof that it will work.

Diffusion

The spread of an innovation through its widespread imitation.

Technological Advance

(1) An improvement in the quality of existing products, the invention of entirely new products, or the creation of new or better ways of producing or distributing products. (2) Any improvement in the methods by which resources are combined such that the same quantity of inputs can be made to yield a combination of outputs that is preferred to any combination of outputs that was previously possible.