Businesses contain multiple processes that lead a product idea to its sale: strategical planning, development, manufacturing, delivery, and overall customer experience. The strategy development stage forces a company or an entrepreneur to study their niche, decide if the product’s concept is in demand, plan its realization, and forecast costs and revenues. This part is vital as it determines how the whole business will operate, and it is necessary to examine a variety of possible strategies applicable to a particular industry. Product development is based on creating a product’s conception, and comparing and evaluating what the existing companies offer to a potential customer. It also applies the strategy’s outcomes to create an optimal prototype that will be competitive, worth its price, and will have reasonable production costs. The development process is essential because it can reveal mistakes in strategy before actual production and optimize the next manufacturing process.
Systems and operations to produce new goods and services are needed to have an understanding of the strategy, the commodity’s primary purpose, and the building approaches of its competitors. The importance of product manufacturing is evident, and it includes optimization to reduce costs and make high-quality goods. Nevertheless, a product itself is not the only part of a customer’s experience because order fulfillment influences their satisfaction. A client will be happy if the right product is delivered to them with its best conditions and promptly, therefore, a company must build a sustainable logistics system.
In my opinion, the most crucial business process is strategy development because the consequences of its flaws are severe, and the choices made during this planning influence the whole business. A well-designed program also allows a company to go beyond profit-oriented goals and consider governmental and environmental limitations (Elias Mota et al., 2020). Strategy can optimize all of the mentioned business processes, make them agile, and keep a product’s manufacturing costs, quality, and customer satisfaction in balance.
Reference
Elias Mota, B. A., Cerqueira de Sousa Gouveia Carvalho, A. I., Azevedo Rodrigues Gomes, M. I., & Ferreira Dias Barbosa‐Povoa, A. P. (2020). Business strategy for sustainable development: Impact of life cycle inventory and life cycle impact assessment steps in supply chain design and planning. Business Strategy and the Environment, 29(1), 87-117.