In the Idea Screening Phase of a New Product Development

question 42

Multiple Choice

In the idea screening phase of a new product development process,a firm finds that it lacks the resources and expertise necessary to produce a product.Which of the following is the best course of action for the firm?

• A)It should consider the strategy of selling its existing products at lower prices.
• B)It should stop wasting time,manpower,and funds on new product development.
• C)It should quickly discount the new product idea.
• D)It should consider forming joint or strategic alliances with other firms.

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Definitions:

Secretaries

Administrative professionals who perform routine clerical and organizational tasks to support the functioning of an organization.

Glass Ceiling Effect

An invisible barrier that prevents minorities and women from advancing to the highest levels of leadership and management, regardless of their qualifications or achievements.

Leadership Positions

Positions of authority and responsibility where individuals guide, direct, and influence the work of others.

Minorities

Groups in a society distinguished by cultural, ethnic, racial, religious, or language characteristics, who hold fewer positions of power or have a smaller population compared to the dominant group.