Innovation and Product Development
The first element is the product. A product is a good or service intended to meet the needs of consumers or society. Read the introductions of each section to gain an understanding of products and product development.
As a rule, there's more than one way to make any product, and some methods are more expensive than others. During the next phase, therefore, the team focuses its attention on making a high-quality product at the lowest possible cost, working to minimize the number of parts and simplify the components. The goal is to build both quality and efficiency into the manufacturing process.