Colin Barry

Hospital Equipment Corp (BSSE, Tuesday, Week 3)


Most product launches in established companies fail. Even in giant conglomerates with physical products, only 20% of new products succeed.

Firms often cite "understanding our customers" as a key strength. Two things this can mean:
-- "Understanding" as a noun = a bunch of institutional knowledge = a Resource
-- "Understanding" as a verb = procedures for monitoring our customers and determining what they care about/how they make money = a Process