Provide feedback to the following reading: Before I get into this weeks DQ, Id like to share
Question:
Provide feedback to the following reading:
Before I get into this week’s DQ, I’d like to share with each of you what a pleasure these past ten weeks have been, learning alongside and from each of you. I look forward to staying in touch well beyond the end of our JWI program which for me will be at the end of next week with the submission of my final Capstone assignment. Ok, this week’s DQ is intriguing to me having been on both sides of this fence in my career. At first blush, you would think that it’s easier to bring a new product or service to market from within your company and you would be right and wrong. I’ll break the tie or at least come off the fence at the end of my post. Years ago, I was hired to run a new program in an existing business. The new program was a similar technology with the difference being my product was designed by a Major Oil Company, and our role was to integrate subsystems into functioning units, test them and provide field support. My new company's similar new product was run by a program manager in the next office who was responsible for building our in-house designed unit. I had it easy, right? Not so fast. I’m sure you’ve heard the term not invented here or NIH, and my product was NIH. NIH can also mean, not interested (dangling H intended), which made it hard to get the resources needed to get my work done and required creativity. The other program, invented in-house had engineering issues, and when I couldn’t get engineering resources day after day, I finally decided to start attending their daily meeting. When the engineering manager asked why I was coming to their meeting, I responded that I was here to help solve their problems so that I could get resources to work on my issues. The mood was tense for a couple of days, but when they found out I did want to help solve their problems, resources began to flow, slowly at first and improved from there. In addition to engineering resources, I had to fight for space, other personnel, and equipment. Each was more difficult than expected and took more time than planned. Starting from scratch, which is what we did in my current company, we had to go out and get everything from the first pencil to office space to equipment, personnel and so on. The good news is that when we had a resource, it was available to be used, it just took time to add resources and juggle roles in the forming stages. Resources were still limited; our investment was only enough to get us up and running for few months before we had to sink or swim on the performance of the business. Adding to the complication of a startup we opened our doors just at the oil and gas industry entered what turned out to be a prolonged slump. What that meant is that we had to last longer with fewer resources and we had to bring in enough business to keep the company afloat. Based on my experiences, starting a product or service in an existing business is easier, but not by much. Both were challenging, and each had their share of oh-no moments, but I wouldn’t trade the experience of either one. What do you think? Which has been or sounds easier to you? Poke holes in my experiences or let me know what your thoughts are.
The Legal and Regulatory Environment of Business
ISBN: 978-0078023859
17th edition
Authors: Marisa Pagnattaro, Daniel Cahoy, Manning Magid, Lee Reed, Pe