Entrepreneurship and Small Business ManagementSection 1:
From Idea to Product Section 16.1 Summary
Because they work with limited resources, entrepreneurs must find creative ways to develop and manufacture their products. Product development is considered the highest risk part of star-up for a small business. Small business owners can reduce the cost and risks involved with product development by hiring other people to do the work. The four steps in product development are: (1) opportunity recognition, (2) concept investigation, (3) product design, and (4) prototype building and testing. Section 16.1 Reading Organizer
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