With respect to the product decision, managers must be able to accept risk and tolerate failure. why this is a necessary hazard in making new product decisions, given all the powerful tools and carefully built systems that support that decision?

The correct answer is: Regarding the above, it is taken into account that the vast majority of new product ideas do not become marketable products, and most marketable products are failures. Perhaps hundreds of designs accompany each success. So it is the primary task of management to clearly assess the market in order to know what are the trends that allow a business duration over time.

Explanation:

The production or service execution process is the core process that encompasses all the operations carried out by an organization to transform requirements into a final product or service. The entries that involve orders and budgets become work orders that allow planning, design, manufacturing and execution, all supported by the support processes that involve purchases and resources. Finally, the exit of this activity constitutes the process of expedition and after-sale.

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.