Multiple Choice
In the context of social responsibility accounting, social responsibility should extend beyond the shareholders to include:
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1. Introduction to Accounting
Types of Accounting
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
A company's external sources of new product ideas include its ________.
A
internal R&D department
B
production staff
C
customers
D
management team
Verified step by step guidance1
Understand the concept of external sources for new product ideas. External sources refer to inputs or suggestions that come from outside the organization, as opposed to internal sources like the R&D department or production staff.
Recognize that customers are a key external source for new product ideas. They provide feedback, suggestions, and insights based on their needs and experiences with the company's products or services.
Differentiate between internal and external sources. Internal sources include departments within the company, such as R&D, production staff, and management teams, while external sources include customers, competitors, suppliers, and market trends.
Consider why customers are valuable for generating new product ideas. They directly interact with the products and can identify gaps, improvements, or entirely new needs that the company can address.
Apply this understanding to similar scenarios. When analyzing sources of innovation or product development, always categorize inputs as internal or external and evaluate their relevance to the company's goals.
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