Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Balancing cost and quality is very difficult in the high speed innovation industry. One significant issue companies face is deciding the ideal time to deliver

Balancing cost and quality is very difficult in the high speed innovation industry. One significant issue companies face is deciding the ideal time to deliver products to market. Releasing too early with bugs and performance issues damages quality and reputation, but postponing launches to meet higher standards delays revenue and risks getting scooped by the competition. Companies like Meta faced backlash when quality or privacy issues emerged after launching their Metaverse platforms quickly to gain first-mover advantage. However, companies also face criticism if they announce products but take too long to release them to customers, like video game developers missing announced launch dates after realizing more development is needed.
Another key challenge in technology is managing production and component costs, especially with supply chain disruptions, while still delivering high-quality devices. For example, when costs of chips, batteries or raw materials rise unexpectedly, companies have to decide whether to cut corners on device performance or quality to maintain profit margins, or absorb the higher costs which impacts bottom lines. Most try balancing modest price increases with very selective component substitutions to deliver essentially the same quality device.
Overall, the rapid pace and volatility of the technology marketplace makes delivering both shareholder value through cost management and customer value through quality an increasingly complex balancing act.''paraphrase and make 50 word?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these General Management questions