Technological innovation is the use of knowledge to apply tools, materials, processes and techniques to come up with new solutions to problems

A firms operating expenses are all business costs including cost of goods sold

A. True B. False

Mason's is a supplier of specialty chemicals to a number of companies. The company previously supplied just three big clients, but the CEO is considering targeting the small business market

Selling to small businesses presents a huge opportunity, he says, but some board members disagree, saying it also presents huge challenges. Explain the challenges the firm might face in targeting small businesses.