Explain and elaborate the attached picture above.

Make a written report about it.

Component Commonality Companies often have multiple products or services to offer customers. Often, these products or services have a high degree of similarity of features and components. This is particularly true of product families, but it is also true of many services. Companies can realize significant benefits when a part can be used in multiple products. For example, car manufacturers employ this tactic by using internal components such as water pumps, engines, and transmissions on several automobile nameplates. In addition to the savings in design time, companies reap benefits through standard training for assembly and installation, increased opportunities for savings by buying in bulk from suppliers, and commonality of parts for repair, which reduces the inventory dealers and auto parts stores must carry. Similar benefits accrue in services. For example, in automobile repair, component commonality means less training is needed because the variety of jobs is reduced. The same applies to appliance repair, where com- monality and substitutability of parts are typical. Multiple-use forms in financial and medical services is another example. Computer software often comprises a number of modules that are commonly used for similar applications, thereby saving the time and cost to write the code for major portions of the software. Tool manufacturers use a design that allows tool users to attach different power tools to a common power source. Similarly, Hewlett-Packard has a uni- versal power source that can be used with a variety of computer hardware.