Chapter 61, Innovation, research and development Flashcards
1
Q
Innovation
A
the introduction of a new idea
2
Q
Research and development problems
A
- cost
- risk
- copying from other businesses
- limited protection of new ideas
- coping with rapid changes in technology
- Constant changes may annoy consumers
- Unemployment
3
Q
Product Orientation
A
this means that a business concentrates its activities on improving the quality or efficiency of the product
4
Q
Morphological Study
A
a method that generates a lot of ideas very quickly and therefore more cheaply. Uses two or three axis of variables e.g colour shape
5
Q
Value Analysis
A
three aspects of value analysis - Function - Cost - Aesthetic using a triangle with priority aspect at the top can be used to balance the priorities of a product
6
Q
Factors affecting research and development
A
- Level of competition
- Product
- External Environment
- State of economy
