13. Operational strategies: Innovation Flashcards
1
Q
Research and Development (R&D)
A
The scientific research and technological development of a new product or process.
2
Q
Idea generation
A
The process of identifying a wide range of possible new ideas.
3
Q
Idea screening
A
The process of streamlining all the ideas generated to shortlist those worthy of further consideration.
4
Q
Concept testing
A
The process of pitching potential ideas to consumer panels to assess their reactions.
5
Q
Business analysis
A
The process of investigating the economic and practical viability of an idea.
6
Q
Innovation
A
The launch in a new product or process, an invention, onto the market form commercial gain.
