The Highest Level of Risk for New-Product Development Occurs When

question 11

True/False

The highest level of risk for new-product development occurs when products fail to generate sales or prove to be dangerous and defective.

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Definitions:

Grand Plan

A comprehensive scheme or strategy designed to achieve a major or overall goal.

Hawthorne Effect

A psychological phenomenon in which individuals improve or modify their behavior in response to their awareness of being observed.

Lean Operation

A methodology focused on minimizing waste within manufacturing systems while simultaneously maximizing productivity.

Malcolm Baldrige

A set of standards for quality improvement established by the U.S. Department of Commerce, named after Malcolm Baldrige, the 26th Secretary of Commerce.