Question: What is technological innovation? Why it is so important? Give examples. What do you mean by Gross Domestic Product (GDP) and externalities? Give examples (both

  1. What is technological innovation? Why it is so important? Give examples.
  2. What do you mean by Gross Domestic Product (GDP) and externalities? Give examples (both positive and negative).
  3. How long does new product development take?
  4. Why Strategic Management is important for technological innovation? What are the components of a firms new product development process?

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