Because they have limited resources, small businesses need not formalise the product development process.

Question

Quizplus · Accepted Answer

Formalising the product development process can help small businesses streamline their efforts, reduce costs, and increase efficiency. It can also ensure that they are gathering valuable insights from customers and stakeholders while reducing the likelihood of costly mistakes or setbacks. While small businesses may have limited resources, investing in a formal product development process can ultimately save them time and money in the long run.

Because They Have Limited Resources, Small Businesses Need Not Formalise