Apply the three steps of the innovation process to the example of Free Rice founded by computer programmer John Breen, as stated in the textbook.
What will be an ideal response?
*First step, Idea generation. His idea was to help end world hunger by finding a way to give people in
disadvantaged countries free rice
*Second step,Problem solving. He built a website that asks people questions. Each correct answer
provides 10 grains of rice to impoverished countries via The UN World Food Program and paid for by the
banner ads that appear below the question.
*Third step, Implementation and diffusion. To date, the site has donated over 93 billion grains of rice,
which has helped feed about five million people.
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?Products can be goods, services, or ideas.
Answer the following statement true (T) or false (F)
Which of the following statements is true about the naming strategies for products sold in the global market?
a. A one-brand-name strategy is useful when a company markets mainly one product. b. An advantage of using different brand names in different markets is greater identification of the product from market to market. c. A one-brand-name strategy reduces the ease of coordinating promotion from market to market. d. A disadvantage of using different brand names in different markets is that it does not support localization.
Woodlove, a furniture manufacturing company, had separate departments for completing various tasks involved in creating a piece of furniture, such as cutting the wood, shaping the various parts, assembling the furniture, and polishing the finished product. To reduce wait time in the work flow, the management of the company decided to train the employees to perform all the tasks. Once the carpenters were trained to do multiple tasks, the productivity and the overall utilization of the resources improved significantly. In this scenario, the company adopted the _____ approach.
A. flow production B. lean production C. mass production D. traditional assembly line
When a customer deposits cash into a checking account, he or she becomes a debtor for the amount deposited
Indicate whether the statement is true or false