Noun, する verb, and の adjective
ゆうせん
我が社は新しいベーコンフレーバーの開発を優先するべきだ。
We should put priority on developing a new flavor of bacon.
It was superior previously, so we need to go back there. That, amongst all the other things, is our highest priority.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.