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true or false Innovative SMEs are more likely to involve product innovation than process innovation.

true or false Innovative SMEs are more likely to involve product innovation than process innovation.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Innovative SMEs are more likely to involve product innovation than process innovation.

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The term "product innovation" is used to describe any kind of modification to an existing product. The two possible variations are as follows. First, a rise in a product's efficiency. Improvements in digital camera resolution are one such example. A second consideration is the introduction of novel product functions. 

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