A company employing a product development strategy would create a new product targeted to its current customers.
What is New Product Development ?
You can get the people in your division to come up with ideas for new products by following the given things mainly which revolves around reinforcing the novel ideas:
- As employees have direct contact with the customers so they have the better ideas about the customers needs and wants.
- Employees are well aware of the changing trends so they should be encourage to come up with the new and novel ideas for the new products.
- Ideas can come from any where, from any level of the organization so each and every single employee should be motivated to participate in idea generation activities.
The importance of doing customer research is to have a drive for new product development. A research can be effective in pointing out consumer trends and fads, as well as opening a direct customer communication channel that feels prestigious for having its requests valued by a company. Through concrete data of potential customers and new customers, an organization has the ability to meet the actual demand of potential customers and make possible adjustments to the production process.
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Answer:C. cash flow from operations may increase
Explanation:
A factoring system is one in which a firm sell his right to receive payments on it's receivable to a firm referred to as the factor as a discount in which the amount of discount represents the factor fees for taking up the risk.
The factor may be with or without recourse to the firm selling the receivable.
It's mostly entered into to reduce payment defaults and increase inflow of cash for operations.
The factor company does not need to be a consolidated company,it usually reduce the receivable and does not require a change in accounting principles.
Answer:
c. $40,000
Explanation:
Reduction in Account Receivables $500,000
($2,500,000 * 20%)
<u>* Interest rate 11% </u>
Annual saving $55,000
Less: Annual cost of system <u>-$15,000</u>
Pretax Net annual savings <u>$40,000</u>
Answer:
defective
Explanation:
In an electronic firm it is necessary to keep check for every circuit as they turn out to be defective. There can be minor error is circuit formation but this will be considered as defective because circuits are very sensitive and even minor error can lead to short circuits which could lead to a disaster. It is necessary for a firm to keep track and quality of every circuit should be checked.