Why companies have to be

careful in designing and

manufacturing!

Quality
 Fords Global Network to Support
the Manufacturing of the Escort

Source: From Joseph E. Stiglitz, Principles of Micro-economics, 2nd ed. (New

York: W. W. Norton and Company, 1997), p. 58. Reprinted with permission.
 Economic Issues we are facing
today:
Competition in globalized markets
Pursuing a product differentiation strategy.
Product life cycles becoming shorter.
Engaging in continuous product development as new
products become a majority of sales and profits.
Having flexibility in manufacturing processes
Increasing demand for services
Increasing the efficiency and reducing the costs of
delivering services.
Effectively using the Internet to deliver extend current
services and offer new services.