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Strategies For Sustaining Competitive Advantage Through Product Development: A System Engineering Framework
Author(s) -
Sherry Lance
Publication year - 1994
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.1994.tb01692.x
Subject(s) - competitive advantage , new product development , product engineering , function (biology) , product (mathematics) , process (computing) , maturity (psychological) , product lifecycle , product cost management , business , time to market , risk analysis (engineering) , computer science , industrial organization , systems engineering , process management , product design , engineering , marketing , psychology , developmental psychology , geometry , mathematics , evolutionary biology , biology , operating system
Competitive advantage in an industry can be achieved by strategically entering a marketplace at the right time with a product that has the appropriate cost and operational capability to match the needs and maturity of the marketplace. In products (such as software‐based products) where the cost and time‐to‐market are primarily a function of the “intellectual” engineering process, the product development function is the source of competitive advantage. This paper introduces a system engineering framework that describes the relationship between product operational capability, development cost, and development cycle‐time (time‐to‐market). Analysis of this relationship yields four strategies for achieving and sustaining competitive advantage through product development.