New products can only be developed internally within a company.Group of answer choicesTrueFalse
Question
New products can only be developed internally within a company.
- Group of answer choices
- True
- False
Solution
The statement "New products can only be developed internally within a company" is generally considered False.
Explanation:
- New products can also be developed through:
- External partnerships: Collaborations with other companies or institutions.
- Outsourcing: Hiring external teams or freelancers to create products.
- Acquisitions: Buying companies that already have developed products or technologies.
- Open innovation: Using external ideas and paths to market alongside internal efforts.
In conclusion, while internal development is one way to create new products, it is not the only method available to companies.
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