RESEARCH ETHICS
COMMERCIALIZATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is made and how value is added to it.
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Changes to how a product or service is made
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Changes to both the product and the process of how it is made
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None of the above
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Detailed explanation-1: -Innovation is vital to your company’s success in today’s highly competitive business environment, especially as customers become more demanding and savvy. Entrepreneurs need an edge to survive and stand out. Innovation can provide that edge-boosting your productivity, growth and profitability.
Detailed explanation-2: -Product innovation is the process of creating a new product-or improving an existing one-to meet customers’ needs in a novel way. There are three key types of innovation: Sustaining innovation, in which a business consistently provides the highest quality products to its best customers.
Detailed explanation-3: -Without going through all possible definitions, let’s keep it simple and clear: product innovation is the development or improvement of products in a way that tries to solve problems for consumers, customers, companies or society at large.