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How to make your company’s products more competitive

how-to-make-your

Competition among global product makers is currently being reshaped by the rising tide of prosperity in developing economies.

Writing for McKinsey Quarterly, Ananth Narayanan, Asutosh Padhi and Jim Williams report that large manufacturers are facing a challenge from “nimble, innovative, and highly ambitious” new entrants.

The authors warn that “insular thinking and functional disconnectedness, if unchecked, can gum up product-development processes, drive up costs, and distract companies from paying attention to competitors – and, ultimately, customers”.

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