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Time To Market
In commerce, time to market (TTM) is the length of time it takes from a product being conceived until its being available for sale. The reason that time to market is so important is that being late erodes the addressable market into which producers have to sell their product. A common assumption is that TTM matters most for first-of-a-kind products, but actually a late product launch in any industry can negatively impact revenues—from reducing the window of opportunity to generate revenues to causing the product to become obsolete faster. Measuring TTM There are no standards for measuring TTM, and measured values can vary greatly. First, there is great variation in how different organizations define the start of the period. For example, in the automotive industry the development period starts when the product concept is approved. Other organizations realize that little will happen until the project is staffed, which can take a long time after approval if developers are tied u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commerce
Commerce is the organized Complex system, system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale exchange (distribution through Financial transaction, transactional processes) of goods and services, goods, services, and other things of value at the right time, place, quantity, Quality (business), quality and price through various Distribution (marketing)#Channels and intermediaries, channels among the original Economic production, producers and the final consumers within local, regional, national or international economies. The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage are the principal factors that give rise to commercial exchanges. Commerce consists of trade and aids to trade (i.e. auxiliary commercial services) taking place along the entire supply chain. Trade is the exchange of goods (includi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Automotive Industry
The automotive industry comprises a wide range of company, companies and organizations involved in the design, Business development, development, manufacturing, marketing, selling, Maintenance, repairing, and Custom car, modification of motor vehicles. It is one of the world's largest industry (economics), industries by revenue (from 16% such as in France up to 40% in countries such as Slovakia). The word ''automotive'' comes from the Greek language, Greek ''autos'' (self), and Latin ''motivus'' (of motion), referring to any form of self-powered vehicle. This term, as proposed by Elmer Ambrose Sperry, Elmer Sperry (1860–1930), first came into use to describe automobiles in 1898. History The automotive industry began in the 1860s with hundreds of manufacturers pioneering the Brass Era car, horseless carriage. Early car manufacturing involved manual assembly by a human worker. The process evolved from engineers working on a stationary car to a conveyor belt system where the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Product Development
New product development (NPD) or product development in business and engineering covers the complete process of launching a new product to the market. Product development also includes the renewal of an existing product and introducing a product into a new market. A central aspect of NPD is product design. New product development is the realization of a market opportunity by making a product available for purchase. The products developed by an commercial organisation provide the means to generate income. Many technology-intensive organisations exploit technological innovation in a rapidly changing consumer market. A product can be a tangible asset or intangible. A service or user experience is intangible. In law, sometimes services and other processes are distinguished from "products". NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market. Cost, time, and quality are the main variables that drive customer needs. Ai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tacit Assumption
A tacit assumption or implicit assumption is an assumption that underlies a logical argument, course of action, Decision-making, decision, or judgment that is not explicitly voiced nor necessarily understood by the decision maker or judge. These assumptions may be made based on personal life experiences, and are not consciously apparent in the decision making environment. These assumptions can be the source of apparent paradoxes, misunderstandings and resistance to change in human organizational behavior. Tacit assumptions in science often include the Elegance#In_philosophy_of_science, elegance of natural laws, and the Relationship between mathematics and physics, applicability of mathematics. See also * Assumption-based planning * Consensus reality * Hidden curriculum * Implicit attitude * Implicit cognition * Implicit leadership theory * Implicit memory * Implied consent * Leading question * Premise * Presupposition * Shattered assumptions theory * Subreption * Tacit knowledge * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phase–gate Model
A phase-gate process (also referred to as a waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct ''stages'' or ''phases'', separated by decision points (known as ''gates''). At each gate, continuation is decided by (typically) a manager, steering committee, or governance board. The decision is made based on forecasts and information available at the time, including the business case, risk analysis, and availability of necessary resources (e.g., money, people with correct competencies). History A phased approach to investment decisions for development arose in large-scale projects for mechanical and chemical engineering, particularly since the 1940s. One source described eight phases. In 1958, the American Association of Cost Engineers created four standard cost estimate type classifications to match these development and appr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Six Sigma
Six Sigma (6σ) is a set of techniques and tools for process improvement. It was introduced by American engineer Bill Smith while working at Motorola in 1986. Six Sigma strategies seek to improve manufacturing quality by identifying and removing the causes of defects and minimizing variability in manufacturing and business processes. This is done by using empirical and statistical quality management methods and by hiring people who serve as Six Sigma experts. Each Six Sigma project follows a defined methodology and has specific value targets, such as reducing pollution or increasing customer satisfaction. The term ''Six Sigma'' originates from statistical quality control, a reference to the fraction of a normal curve that lies within six standard deviations of the mean, used to represent a defect rate. History Motorola pioneered Six Sigma, setting a "six sigma" goal for its manufacturing business. It registered Six Sigma as a service mark on June 11, 1991 (); on December 28, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
References
A reference is a relationship between Object (philosophy), objects in which one object designates, or acts as a means by which to connect to or link to, another object. The first object in this relation is said to ''refer to'' the second object. It is called a ''name'' for the second object. The next object, the one to which the first object refers, is called the ''referent'' of the first object. A name is usually a phrase or expression, or some other Symbol, symbolic representation. Its referent may be anything – a material object, a person, an event, an activity, or an abstract concept. References can take on many forms, including: a thought, a sensory perception that is Hearing (sense), audible (onomatopoeia), visual perception, visual (text), olfaction, olfactory, or tactile, emotions, emotional state, relationship with other, spacetime coordinates, symbolic system, symbolic or alpha-numeric grid, alpha-numeric, a physical object, or an energy projection. In some cases, meth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Opportunity
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined. The market analysis is also known as a documented investigation of a market that is used to inform a firm's planning activities, particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company. Market segmentation Market segmentation is the basis for a differentiated market analysis. Differentiation is important. One main reason is the saturation of consumption, which exists due to the increasing competition in offered products ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Launch
New product development (NPD) or product development in business and engineering covers the complete process of launching a new product to the market. Product development also includes the renewal of an existing product and introducing a product into a new market. A central aspect of NPD is product design. New product development is the realization of a market opportunity by making a product available for purchase. The products developed by an commercial organisation provide the means to generate income. Many technology-intensive organisations exploit technological innovation in a rapidly changing consumer market. A product can be a tangible asset or intangible. A service or user experience is intangible. In law, sometimes services and other processes are distinguished from "products". NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market. Cost, time, and quality are the main variables that drive customer needs. Ai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Innovation
Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative. Introduction Product innovation is defined as: Numerous examples of product innovation include introducing new products, enhanced quality and improving its overall performance. Product innovation, alongside cost-cutting innovation and process innovation, are three different classifications of innovation which aim to develop companys production methods. Thus product innovation can be divided into two categories of innovation: radical innovation which aims at developing a new product, and incremental innovation which aims at improving existing products. Advantages and disadvantages Advantages of product innovation include: * Growth, expansion and gaining a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Follow-the-sun
Follow-the-sun (FTS), a sub-field of globally distributed software engineering (GDSE), is a type of global knowledge workflow designed in order to reduce the time to market, in which the knowledge product is owned and advanced by a production site in one time zone and handed off at the end of their work day to the next production site that is several time zones west to continue that work.Carmel, E., Dubinsky, Y., & Espinosa, A. (2009, January). Follow the sun software development: New perspectives, conceptual foundation, and exploratory field study. In System Sciences, 2009. HICSS'09. 42nd Hawaii International Conference on (pp. 1-9). IEEE.Carmel, E., Espinosa, J. A., & Dubinsky, Y. (2010). " Follow the Sun" Workflow in Global Software Development. Journal of Management Information Systems, 27(1), 17-38. Ideally, the work days in these time zones overlap such that when one site ends their day, the next one starts. FTS has the potential to significantly increase the total develop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
