Product
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Product-related functions and processes are dependent upon a firm's R&D and manufacturing/purchasing capabilities. 1. The R&D function generates proprietary technologies that can be applied to the development and production of new products. In the electronics industry, access to basic components, like hard disk drives and floppy disk drives and high precision production equipment are fundamental to making smaller, lighter, higher quality products. Each generation of smaller products, like palm corders, stimulates market growth for the company that is first to the market. Each generation of smaller products also reduce packaging and shipping costs, reduce power consumption, extend battery life, and are more convenient to carry. 2. The time-to-market process is required to integrate new technology into a firm's products and services. Today, competitive advantage is often related to the speed with which a firm can introduce the next generation of technologies into the market through new product and process developments. Once the product is developed, production capacity often becomes the limiting factor of market growth. 3. The manufacturing function transforms a set of purchased components and software into a firm's products. Having acceptable products available in a timely manner for customers is central to making sales. The ability to provide the highest quality products in the most efficient allows companies to gain market share by offering competitive prices and ready availability. Experience curve effects from high volumes can lead to lower costs. 4. The integrated-supply-chain process coordinates purchasing of components for assembly, product outsourcing, otherwise making sure products are available to meet customer order requirements.
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Transcript of Product
Product-related functions and processesare dependent upon a firm's R&D and manufacturing/purchasing capabilities.1. TheR&Dfunction generates proprietary technologies that can be applied to the development and production of new products. In the electronics industry, access to basic components, like hard disk drives and floppy disk drives and high precision production equipment are fundamental to making smaller, lighter, higher quality products. Each generation of smaller products, like palm corders, stimulates market growth for the company that is first to the market. Each generation of smaller products also reduce packaging and shipping costs, reduce power consumption, extend battery life, and are more convenient to carry.2. Thetime-to-marketprocess is required to integrate new technology into a firm's products and services. Today, competitive advantage is often related to the speed with which a firm can introduce the next generation of technologies into the market through new product and process developments. Once the product is developed, production capacity often becomes the limiting factor of market growth.3. Themanufacturingfunction transforms a set of purchased components and software into a firm's products. Having acceptable products available in a timely manner for customers is central to making sales. The ability to provide the highest quality products in the most efficient allows companies to gain market share by offering competitive prices and ready availability. Experience curve effects from high volumes can lead to lower costs.4. Theintegrated-supply-chainprocess coordinates purchasing of components for assembly, product outsourcing, otherwise making sure products are available to meet customer order requirements. Outsourcing and alliances increase a firm's ability to offer a wider range of products or to introduce new products more rapidly. Increased flexibility provides competitive advantage in responding to rapid market changes.
Pearson Product-related functions and processesResearch and Development
Long Term vision of PearsonAccording to the Annual Report, Pearson Global Opportunity has been flourishing and become better. Nelson Mandela rightly said: education really is the most powerful weapon with which to change the world. Pearson long-term vision is to help meet the global demand for top-notch education and skills. Moreover, being in an era where technology rules the world, Pearson ought to take full advantage of this and using these technologies to effectively improve learning outcome. Through this, Pearson aims to build a stronger and more profitable company.
Transforming the BusinessPearson is transforming faster, shifting from mature markets to developing markets, from print to digital products and from education inputs to services. Last year, Pearson successfully acquired Penguin Random House, strengthening more opportunities for significant economies of scale and Penguins commercial and creative future. According to the Annual Report 2013, Pearson is fundamentally restructuring the company. Most of the operating expenditures and organic investments have been allocated to some more favourable opportunities.
