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Chapter Objectives
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Explain managers' role in facilitating product development.

Identify the factors that shorten the product life cycle and explain why reducing product development time increases the level of industry competition.

Identify the goals of product development and explain the relationships among them.

Explain the principles of product development and describe the way in which managers can encourage and promote innovation.

Describe how managers can encourage and promote entrepreneurship to help create a learning organization.







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