?
Which one of the following is a barriers to news product creation and development
Answer & Solution
Correct Answer:
Option
C
Opportunity cost can act as a barrier to new product creation and development because organizations must decide how to allocate limited resources such as money, time, employees, and technology.
When a company invests its resources in developing a new product, it gives up the opportunity to use those same resources for other potentially profitable projects. This sacrificed alternative is known as the opportunity cost.
Option A: Trial and error — This is generally a method used during product development and experimentation, not a barrier itself.
Option B: Opportunity parameter — This is not a commonly recognized barrier to new product creation and development.
Option C: Opportunity cost — Correct. The cost of giving up alternative opportunities can discourage organizations from investing resources in new product development.
Option D: Intrapreneurship culture — A strong intrapreneurship culture generally supports innovation and encourages employees to develop new products and ideas.
When a company invests its resources in developing a new product, it gives up the opportunity to use those same resources for other potentially profitable projects. This sacrificed alternative is known as the opportunity cost.
Option A: Trial and error — This is generally a method used during product development and experimentation, not a barrier itself.
Option B: Opportunity parameter — This is not a commonly recognized barrier to new product creation and development.
Option C: Opportunity cost — Correct. The cost of giving up alternative opportunities can discourage organizations from investing resources in new product development.
Option D: Intrapreneurship culture — A strong intrapreneurship culture generally supports innovation and encourages employees to develop new products and ideas.
Join the Discussion
Login to post a comment or share your explanation.
Login