__________ Is the Process by Which Ideas Are Transformed into New

question 46

Multiple Choice

__________ is the process by which ideas are transformed into new products and services that will help firms grow.

• A) Beta testing
• B) Concept testing
• C) Innovation
• D) Reverse engineering
• E) Competition

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Definitions:

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes.

Simple Thinking

The process of considering or reasoning in a straightforward or uncomplicated manner.

Solve Problems

To find solutions or answers to difficult situations or questions through analysis and applied strategies.

Concept

An abstract idea or a mental symbol that represents a specific thing, thought, or group of things, often defining how something is perceived or understood.