Senior executives in charge of new business development have the capacity to spot emerging technology and are continually thinking about new business prospects.
An organization or enterprising entity engaging in commercial, industrial, or professional activity is referred to as a business.
Senior executives in charge of new business development have the capacity to spot emerging technology and the existing products, brainstorming, individuals, consumers, unexploited patents, vendors, and technology are all sources of opportunity identification.
Managers can utilize competitive information to help them plan for the long and short term. Senior executives also gather knowledge about new technology via the media and the patent office.
Therefore, they can make informed decisions on innovative technology by using the New product development process to analyze data.
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