3M's Description of Innovation Is "A New Idea Together with Action

question 61

Multiple Choice

3M's description of innovation is "a new idea together with action or implementation that has a bottom-line impact." This reflects which key component of innovation?

• A) The invention by itself does not make for innovation.
• B) It is not just the change that is important or that defines innovation.
• C) An innovation is more than just a novel idea or product.
• D) all of the above

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Definitions:

Net Operating Losses

Financial losses that occur when a company's allowable deductions exceed its taxable income, which can be carried over to reduce future taxable income.

Intra-entity Gross Profit

Profits recognized from transactions that occur within the same company, not yet realized by the external market.

Income Tax Liability

The total amount of taxes owed by an individual or a business entity to the federal, state, or local government based on income.

Operating Income

Income generated from the core business operations of a company, excluding income from investments and expenses not related to the primary business activities.