Which of the Following Best Exemplifies Innovation

question 21

Multiple Choice

Which of the following best exemplifies innovation?

• A)ABC Inc.cut the prices of its products by 10 percent
• B)ABC Inc.entered the Chinese market
• C)ABC Inc.offered a "me-to" product similar to that of a competitor
• D)ABC Inc.developed a new business model by going directly to customers Developed a new business
• E)ABC Inc.cut its cost by 10 percent

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Definitions:

Computerization

The process of equipping tasks, processes, or systems with the capability to be performed or monitored by a computer.

Unit Prices

Unit prices are the costs assigned to a single unit of a product or service, allowing buyers to compare costs and make informed purchasing decisions.

Beginning Inventory

The cost of items on hand ready for sale at the opening of an accounting cycle.

Merchandise

This refers to goods or stock that a retail store has on hand to sell to customers, effectively the items available for sale in a commercial setting.