Designing new and creative products and getting them to market quickly is an example of:
A)product innovation
B)production process innovation
C)supply chain management
D)management accounting systems

Question

Quizplus · Accepted Answer

Product innovation involves developing new creative products and bringing them to market quickly. This process requires a focus on research and development, design, and marketing. Production process innovation, on the other hand, refers to improving the way products are manufactured, such as implementing new technologies or streamlining production processes. Supply chain management involves managing the flow of materials, goods, and services from suppliers to customers. Management accounting systems involve gathering and analyzing financial information to make strategic business decisions.

Designing New and Creative Products and Getting Them to Market