A 3M Researcher Worked with University Students to Develop the Post-It^®

question 224

Multiple Choice

A 3M researcher worked with university students to develop the Post-it^® Flag Highlighter.His team evaluated the technical feasibility of the proposed design and determined whether the idea met the firm's new-product objectives.At which stage of the new-product process was this product?

• A)idea generation
• B)screening and evaluation
• C)business analysis
• D)new-product strategy development
• E)concept testing

Understand the concept of flexible budgeting and how it adapts to changes in activity levels.

Calculate and analyze variances between planning and actual budgets.

Interpret the financial impact of changes in production levels or service activity on direct materials, labor, and overhead costs.

Evaluate the effect of activity level changes on net operating income.

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Definitions:

Organizational Plans

Strategic outlines crafted by businesses or institutions to achieve long-term goals, detailing the courses of action needed.

Competitors

Entities, individuals, or organizations that are in rivalry for the same objectives, such as market share or recognition.

Problem

An issue or situation that presents difficulty and requires a solution.

Methods/Procedure

Established and systematic ways of doing something, involving steps or actions taken to achieve a particular end.