2 Ways a firm can obtain new products. What are they?

In today’s competitive world, it is important to be agile. This is especially true when it comes to a very fast moving environment like the web.

Opportunities arise at every challenge. Sometimes new opportunities require new products either to up sell as ancillary, or to tackle a new need and to ultimately add to the company’s bottom line.

Simply put, the decision making process is easy. MAKE or BUY.

Acquire or merge with other firms that develop a similar product, or develop your own products.

 

Some of the factors to consider for the assessment:

What are the acquisition and operating costs, for the lifetime of the product life-cycle, of the company that we are looking to acquire.

What strategic advantages, such as client portfolio and regional visibility, this merger & acquisition brings to the table.

Any way to improve both companies talent pool. Meshing resources may bring synergy and in companies that rely on human resources, such endeavor can bring forth a lot of benefits.

On the other hand, a comprehensive product development analysis has to be performed on the Make process.

The winner is always the decision that costs the least, and more importantly, will benefit the medium to long term strategic vision of the company.

 

About the Author:

Joe holds an Industrial Eng Bsc. Held numerous strategic positions throughout his career. Worked in the planning and process optimization of Electrical Wind towers production. Headed the strategic planning department of one of the companies with the most traffic worldwide. Joe headed companies that owned and operated traffic networks and media production and distribution.

Webivores is the culmination of the work.

Joe is a heart transplant recipient and a vegan.