Lesson 11 Understanding International Opportunities

Lesson 11 Understanding International Opportunities - #11...

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#11: Understanding International Opportunities 1. List and describe the four steps of the product innovation process. Idea Creation: New knowledge forms around basic discoveries, extensions of existing understanding or spontaneous creativity made possible by individual ingenuity and communication with others. Initial Experimentation: Ideas are initially tested in concept by discussions with others, referrals to customers, clients or technical experts or in the form of prototypes and samples. Feasibility Determination: Practicality and financial value are examined in formal feasibility studies. These studies identify potential costs, benefits and markets. Final Application: A new product is finally commercialized or put on sale in the open market, or a new process is implemented as part of operating routines. 2. List the five characteristics of innovative organizations on page 185. Innovation is expected and failure is acceptable (just as long as mistakes are not repeated)
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  • Fall '11
  • Mr.Martin
  • Canadian company, magna, International Opportunities, product innovation process, New knowledge forms

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