Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

Goods and Services Selection

Student Tip

Product strategy is critical to achieving competitive advantage.

Global firms like Regal Marine know that the basis for an organization’s existence is the good or service it provides society. Great products are the keys to success. Anything less than an excellent product strategy can be devastating to a firm. To maximize the potential for success, many companies focus on only a few products and then concentrate on those products. For instance, Honda’s focus, its core competency, is engines. Virtually all of Honda’s sales (autos, motorcycles, generators, lawn mowers) are based on its outstanding engine ...