Product manufacturing and service delivery models determine how business operations perform. This training video explores questions like these: Do you manufacture your product or do you outsource manufacturing? Do you partner with others to manufacture? Where do you get your raw materials or inputs? If you run a services business, are they employees or contractors?"
- [Instructor] If you understand…how your offerings are built,…it's easier to see the risks that your business faces.…You also will have a better understanding…of how external shocks can impact your product…or your service performance.…If the price of oil goes up dramatically,…it's going to affect a car manufacturer…much more so than a credit card company.…Unless you understand that the cost of shipping product…might go up dramatically…and that credit card company could face additional charges…in terms of the postage and mailing that they're doing.…
Get a good understanding of how your organization…produces its products.…Look at your business' inputs and outputs.…Understand where those inputs come from,…and the types of relationships you have to source them.…Do you manufacture your product yourself?…Do you outsource manufacturing to another company?…Do you partner with another company to build your product?…If you run a services business,…are your people employees or are they contractors?…What other inputs do you have…
- What business are you in?
- What's your market and who is your competition?
- What problem does your business solve?
- How are your products and services created? What are your pricing and growth strategies?
- How do you measure performance?
With the answers in hand, you can be assured your have the knowledge to make the best decisions for your business.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
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- Define and explain business acumen.
- Describe different types of growth horizons.
- Identify critical elements of knowing your business.
- Explain the effects of price changes on profits.
- List common growth methods.
- Evaluate your initiative pipeline.
- Define common business terms.
- Assess trends and your competitive environment.