How Product Development Differs for Small Businesses

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

A _____ places the small organization's product development at risk because large chunks of technical knowledge will be lost if the individual leaves the organization.

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1. If you are an entrepreneur looking to capture talent from a larger competitor, you would need to determine if your candidate is subject to a _____ agreement that would prevent him or her from being employed by your organization immediately after leaving their current job.

2. Although larger organizations may have a development budget that is large, the product development budget of a small organization may differ in that it:

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About This Quiz & Worksheet

See how much you know about small business product development. Answer questions on key topics like critical knowledge that's isolated and an agreement that prevents employment with a competitor.

Quiz & Worksheet Goals

The following will be covered by the multiple-choice quiz:

  • Product development budget for a small business
  • Money invested in a product idea
  • Troubles with hiring the necessary talent

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about product development in small organizations
  • Information recall - access the knowledge you've gained regarding the risk that comes with product development and the potential loss of technical knowledge when an employee leaves
  • Making connections - use your understanding of entrepreneurs and how they're connected to the prevention of giving trade secrets to competitors

Additional Learning

You can learn more about product development with the accompanying lesson entitled How Product Development Differs for Small Businesses. You'll be covering the following key points:

  • The process of product development
  • Examples of new ideas that have been brought to market
  • Ways small businesses can be competitive
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