The Definitions of SFAC No

question 20

True/False

The definitions of SFAC No. 6 are virtually identical to those in SFAC No. 3 except that they are extended to non-business organizations.

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Definitions:

Screeningevaluation

An initial assessment process to determine the viability, risk, or worthiness of a project or candidate.

New-product Strategy Development

A process involving market research, product development, and marketing strategies to launch a new product successfully.

Product Assessment

The evaluation process of a product's performance, features, and market potential to determine its viability and success in the market.

Disruptive Innovation

An innovation that significantly alters the market landscape by introducing simplicity, convenience, accessibility, or affordability where complexity and high cost are the status quo.