Apple

Summary Ideas are part of the grand process of business. Businesses create unique products and services that are then marketed to a customer base. This involves the use of innovation, commercialization and intellectual property rights to both create something unique, have the ability to market, and have the rights to protect it. Without either of these aspects, it can be difficult for a business to generate something worthwhile. The case study of Apple Inc., and the iPhone is one that provides the tell-tale sign of innovation.

People like Steve Jobs work hard to contribute something to their respective industries that is one of a kind, thus making their companies highly successful. To be a pioneer in an industry is to gain a chance to dominate in an emerging or established market. The iPhone represents the epitome of a new product revolutionizing the cell phone and electronics industry. Without the hard work and dedication to protecting the rights and marketability of the iPhone, it would not be the most popular smartphone in the world.

Therefore, it is so important to have a proper balance of commercialization, innovation, and have a firm understanding of property rights. Without any of these, products like the iPhone and Kindle would not be what they are today. This essay will provide insight into the definitions of innovation, commercialization, and intellectual property rights as well as provide a business case study on Apple Inc. and its flagship product, the iPhone and Amazon Inc and its Kindle.

Additionally, concepts like the innovation and commercial funnel will be discussed to offer an encapsulation of the various concepts discussed and how to execute them in the real world. The hope is to provide the foundation from which discussion of these key concepts can generate a better understanding of what it takes to be a successful company in a world with constant changes and evolution of products and services. Background Define Innovation Innovation has various meanings.

However, a popular concept of innovation is the creation of a new practice, object, or idea. “Rogers (1995) defines an innovation as “an idea, practice, or object that is perceived as new by an individual or other unit of adoption” (Tan and Hunter, 2002, p. 227). Those that innovate provide the public with something perceived as ‘original’, ‘never experienced’. For example, Steve Jobs is a common figure related to innovation. He became an innovator through the introduction of the iPhone.

“Steve Jobs was a master of innovation. A survey of his products revealed this deep-seated habit of innovation. Innovation exuded from everything Jobs touched” (Toguchi, 2017, p. 63). The iPhone enabled the reinvention of the cellphone and electronic industry and provided the foundation for what would become the smartphone. Stamm also provided a key definition of innovation and that is creativity and design (Von Stamm, 2008). In fact, Stamm provided the definition of multiple kinds of innovation.

For example, there is architectural innovation or innovation that defines a product or process’ basic configuration, establishing marketing and technical agendas, guiding further development (Von Stamm, 2008). Regular innovation is a kind that involves change, building on established production and technical competence, applied then to existing customers and markets. Thusly, allowing an entrenchment of existing resources and skills. There is also revolutionary innovation. This sort of innovation renders and disrupts established production and technical competence obsolete, while also applied to existing customers and markets (Von Stamm, 2008).

For example, the iPhone made regular phones obsolete. However, the new market became the existing one with the same customers. This according to Stamm is revolutionary innovation because now at the forefront of telephones is the smartphone. Define Commercialization Part of innovation is commercialization. Part of implementation is the idea of combining certain aspects: idea selection, development and commercialization (Von Stamm, 2008). While creativity is essential to the process and use of commercialization, the definition itself of the word is complicated.

If one examines other interpretations of commercialization it often becomes a debate of what constitutes commercialization. For example, if commercialization includes just sales or various types of revenue like funding and licensing fees, it may alter the meaning of it. If only certain kinds of sales are included in commercialization with exclusion of sales to say, government agencies, it further changes the meaning of the word. Anything can be added in to be considered as the suitable benchmark for sales.

However, for the general purpose of defining the word, sales can be used to define commercialization (Von Stamm, 2008). To put it simply, commercialization is the act of making something sellable. When Steve Jobs first created the iPhone, he had to implement a design that made it sellable to customers both new and existing. People hailed the iPhone as a marvelous invention because it was so beautiful in its design and interface (Toguchi, 2017).

People came to understand that the functionality and the design worked together to make a product that is both appealing and gives steady and reliable performance. Therefore, the product than became able to be sold to millions of customers worldwide (Toguchi, 2017). When a product is sellable to customers it provides a means of profit for companies. People in these companies work hard to make a product appealing to customers.

Whether this is through advertisements or fundamental changes in the design to appeal to new tastes or market trends, businesses take steps to make items and services marketable. Discuss the Link between Commercialization and Innovation One cannot have innovation without commercialization. There is no point in having a product that is innovative if one cannot market it effectively. That is where the connection between commercialization and innovation is born. As mentioned earlier, Stamm noted that commercialization and creativity are needed to manifest innovation.

Later in Stamm’s book on page 254 and 255, Stamm introduces the ‘Management of Knowledge’. Management of ideas and storing information of past and current projects is a key to developing innovation and commercialization. State their importance for an organization If one wishes to produce a new product, a company would have to take information from past projects and notably, past failures to see what might work and what will not work.

“In fact, I would suggest that all major stages of a new product development should be covered in a company’s approach towards model management: idea management, development and review, commercialization and monitoring” (Von Stamm, 2008, p. 255). Should Company A wish to revamp a toy line by adding a new toy, potential candidates could come from unfinished projects or a reimaging of old ones. Through the data collected, Company A can produce a new toy that can then be marketed to an existing customer base.

To commercialize the toy, thus making it marketable to the existing customer base, the toy must not be too controversial and suit the needs of the customers. Commercialization and innovation is a complicated process that promotes a connection between both concepts. Without each other, a product cannot fully appeal to customers and become something that defines a company. There is an integral connection between commercialization and innovation. Define Intellectual Property Intellectual property can also be a tricky term to define.

There are numerous methods by which a definition of complex terms such as these may be obtained. While some provide partial meaning, most definitions are superficial at best. The best way to define intellectual property is the sum of its parts. “Intellectual property is the enumerated sum of its legal doctrines; is the enumerated sum of the objects it regulates; is a type of property; is whatever the law stipulates it to be; and is whatever it is intuitively felt to be” (George, 2012, p. 51).

State the importance of intellectual property in relation to innovation and commercialization Intellectual property is what helps someone sell and maintain rights to an object. Using again the iPhone example, Apple Inc has the intellectual property rights to the design and name of the iPhone. Without these rights, people can copy it and produce similar products, thus producing competition for the company.

The reason the company has managed to survive various economic recessions with their products rarely on sale is because they are the only ones that can deliver the experience of having an iPhone. Part of innovation is creativity. The other part is commercialization. When one has a product, it owns exclusive rights to, they can market and sell it how they want. Their rights to the product are protected. Therefore, intellectual property rights are so important.

Without these, it would be extremely hard for any business to remain relevant and profitable without their flagship products. The electronics industry especially has constant competition with new releases every year. Which is why having a unique and highly marketable product is rare and must be protected to maintain the allure, that profitability Introduction The two organizations selected are Apple and Amazon. Apple Inc was formerly known as Apple Computer Company from 1976 to 1977 and Apple Computer Inc. from 1977 to 2007. With the unveiling of the iPhone, it just became Apple Inc.

As of the 2017 fiscal year, Apple’s international revenue is $229 billion. With a high level of brand loyalty, Apple Inc has become one of the world’s most valuable brands (Janssen, 2017). The reason for this success is the revolutionary iPhone. The first of its kind, it provided customers with a feel of a computer in the palm of their hands. What began in 2007 with Steve Jobs and his team of developers, they turned into an App Store in 2008, and the iTunes Store in 2009 (Janssen, 2017).

Steadily, Apple became synonymous with success and thus people began to buy iPhones and Apple products driving continued brand loyalty. Many people feel the reason for this upsurge is the meshing of design and marketability. Apple Inc. marketed their products well with celebrity endorsements of their iPhone models (Janssen, 2017). These celebrity endorsements along with appealing commercials made the iPhone and other Apple products desirable to the masses from young to old. The trend continues today with many celebrities continually taking pictures of themselves with their iPhone logo in full display.

The tie-in of Apple products with status created an indelible bond with consumers, allowing iPhones and other Apple products to receive minimal if any markdowns and continued sales. Innovation is creativity and commercialization. The ability of Steve jobs and co, to cultivate a status and culture around the iPhone is the reason why it has done so well. The iPhone was the first of its kind and demonstrated the first widespread use of touchscreens on mobile devices.

The other add-ons like the App Store and the iTunes Store provided the catalyst to adopt this phenomenon into something that has lasted for over a decade and changed the mobile phone industry. The other company to have done the same and pushed away the old mode of doing is Amazon.com Inc. What began as a bookstore has become a juggernaut for online retailing. “Amazon.com began as Earth's biggest bookstore but has become Earth's biggest everything store.

Its website still offers millions of books, as well as other media, home furnishings, clothing, pet supplies, office products, and hundreds of other product categories” (D&B Hoovers, 2018). With the multiple innovative products to its list, the first and main innovation has been the Kindle e-Reader. The Kindle e-Reader and the subsequent Kindle store made texts available online and on small devices. Rather than buying separate books, the Kindle provided avid readers with the convenience of all their favorite books on one device.

Amazon’s CEO, Jeff Bezos, first saw use of the technology that would eventually lead to the creation of the Kindle in 2004. “Jeff Bezos first saw the Librie being demonstrated by E Ink at a conference in 2004. “Uh-oh,” he said, “This is a machine that could destroy my business.” He ordered 30 Libries for his staffers to play with” (SLYWOTZKY, 2018). Seeing the potential competition from the Librie, he began to cultivate a culture of innovation within Amazon.

Eventually, the Kindle e-Reader came to life in 2007 and led to the Kindle DX in 2009. From there, Kindle has dominated the e-Reader business and provided people with a means of letting go of physical books and embracing the digital e-book. This is because the Kindle device is easy to use, easy to store, and easy to hold. It is lightweight and offers multiple options thanks to the Kindle Store. Thanks to the inspiration of the Librie, Amazon cultivated and led the transition from physical books to e-books.

This is both innovative and transformative. Definition of Innovation/Development Funnel Stamm describes the development funnel with business strategy at its beginning, followed by development goals and objectives, project portfolio planning, and project management and execution. The last part of the inside of the development funnel is post project learning and development. The development funnel helps place a better understanding of innovation because of the various of innovation within the strategies. For example: product extension, existing product, and blue-sky stuff (Von Stamm, 2008).

Part of Amazon and Apple’s success is they took part in a global innovation. That means cutting costs and increasing efficiencies while reducing complexity and duplication. “Along with globalization strategies companies often increase centralization as this is seen to be necessary to coordinate brand consolidation and reduction of product variety. Pooling resources, better integrated portfolio management…” (Von Stamm, 2008, p. 73).

To make products like the iPhone and Kindle e-Reader appealing to the global masses, both companies had to take in mind differences in customer habits and preferences as well as differences in company law, environmental requirements, and general legislation, among other considerations. Going back to the new product development, the innovation or development tunnel was developed by Stephen Wheelwright and Kim Clark, two Harvard Business School professors (Von Stamm, 2008). The funnel encourages “managers to take an integrated approach to new product development.

Rather than making decisions on individual projects, their approach suggests the management and coordination of product development activities from a company-wide perspective, starting with a link to company strategy” (Von Stamm, 2008, p. 58). The methodology revolves around coordination and management from a company-wide viewpoint and doing away with focus on individual projects. Although existing literature may treat the development funnel as one variation of the stage-gate processes, the focus on generation of numerous ideas and then a narrowing down of key ideas sets the funnel apart from other processes.

Individual Components of the Development/Innovation Funnel The first and largest part of the funnel is the Business Strategy and that constitutes market assessment and forecasting as well as capabilities assessment and forecasting. When Amazon and Apple began development of their respective products, they paid attention to the existing market. For example, the iPhone was the first of its kind with no real competitor. Whereas the Kindle e-Reader was in development to directly compete with Librie.

The Capabilities Strategy and the Product/Market Strategy attempts to consider core competencies and clarify priorities and positions on new market (Von Stamm, 2008). Apple and Amazon launched their products knowing there was either little to no competition and they would be the first to truly launch something of that style. Within the funnel itself as mentioned before are objectives, planning, management and execution and assessment at the very end of the funnel.

Labeled as “Post Project Learning and Improvement”, this allows companies to monitor how well these new products are doing. Comparing to Amazon and Apple, they launched stores with their products a year or so after the initial product launched. Amazon launched the Kindle Store and Apple launched iTunes Store and App Store.

When examining how each of the two products initialized by studying potential market demand, existing market structure and then developing a leading and innovative product, it makes sense that the respective companies decided to partner up these products with these stores. It allows them both to further their competitive advantage as well as maintain their position as leader within their industries. Commercial Funnel There are various development funnel realities that Stamm briefly covers.

Group B of the Real funnels has a diagram that shows: quality control, research, customer, market engineering, strategic planning, that comes from the funnel after passing through OEM. When it comes to the commercial funnel, to provide the kind of success for a product like the Kindle e-Reader and the iPhone, there must be sound marketing strategies from research that takes into considering the existing customer group(s).

The existing customer group for Apple was one that was used to cell phones with little to no internet access and no touch screen. The customer base for Amazon were used to physical books. These products had to be developed in consideration with the needs of the existing customer base. There is investigation in the initial phase, then development, and finally shipping the product. For Amazon and Apple, the Kindle e-Reader and the iPhone were in development after they found a true need for them within the market place.

They then prepared the marketing and understood what was needed to make it appealing. They began the shipping process by displaying their recent innovations in trade shows or presentations highlighting their new products. Business Case The Business case is part of the Stage-Gate New Product Process by Rogert G. Cooper. As part of the process, the actions include building a business case and deciding on the business case (Stage 2 and Gate 3). When defining a business case, it captures the logic for starting a task or project (Harvard Business School Press, 2011).

Typically presented in a formal and well-structured document, it may also exist in the form of a brief verbal presentation or argument. The reasoning behind using a business case is to understand specific business need, especially when it is related to budget. For example, Apple’s competitor, Samsung can use Apple’s success and reference its technology when deciding to build their flagship phone. The same can be said Kindle e-Reader and the various apps that act as book readers in cell phones.

Each serve to provide a basis from which other products can be developed, thus leading to innovation by learning from past instances and successful examples. Because Amazon and Apple are innovators, they are often used in business case studies. iPhone Case Study Apple invented the iPhone to become a leading innovator within the industry. They began investing and budgeting money into development of the iPhone and products connected to the iPhone to remain leading innovators.

Through the continuous release of new iPhone models, Apple became one of the most successful companies and provided customers with the same caliber of design and function they came to love. This case study will focus on their budgeting, innovative techniques, sources of funding, and key stakeholders. Addressing the Problem iPhone is the flagship product of Apple Inc (Mazzucato, 2015).

While Apple has several notable products, it is the iPhone that has made them the great innovators of the electronics industry and mobile industry leading the way in the cultivation of the smartphone culture/app (Mazzucato, 2015). Before they became successful with the iPhone, innovators like Steve Jobs had to find a way to make a product that was not only highly marketable but could translate into several models down the line.

When beginning what would amount to be the iPhone, Steve Jobs and his team had to learn how to operate a device in a new way. Apple wanted a personal computer revolution through the melding of three personal devices into one pocket-sized super computer (Tetzeli, 2015). It was in 2004 Steve decided to shift Project Purple from tablet to phone (Tetzeli, 2015). Doing so made it possible to crate a line of extension of Apple’s tablet device into what became the iPhone.

Therefore, they maximized the iPhone rather than minimizing an iMac (Tetzeli, 2015). To do so, they had to use ARM-based microprocessors instead of power-hungry Intel chips. If one looks at the current market, ARM-based processors have become a mainstay thanks to the smartphone revolution. “Ampere is coming out of stealth today as a maker of ARM-based server microprocessors that will compete with Intel for a slice of the lucrative datacenter chip market” (Takahashi, 2018). Estimate Budget Steve Jobs created the iPhone on a predetermined budget.

Looking at the original specs of the iPhone one can guess what kind of budget would be involved in research, cultivation, implementation, and changing of the original P2 device into a touchscreen phone. “The original iPhone, code-named M68 and device number iPhone1,1, had a 3.5-inch LCD screen at 320x480 and 163ppi, a quad-band 2G EDGE data radio, 802.11b.g Wi-Fi, Bluetooth 2.0 EDR, and a 2-megapixel camera” (Ritchee, 2018).

The budget to research and develop the iPhone must have been sizeable considering the lack of baseline and comparative models they had. Being the first of its kind, the iPhone involved need for innovation through rehashing of other designs into a more portable and user-friendly option. Although there are few examples of initial cost estimates of the design, there are 2018 estimates of how much it would cost to manufacture one iPhone X. The amount of money needed to produce one iPhone X is $389.50 (Do, 2018).

If one translates this into the cost of smartphone production, the estimated budget for creation of something like the iPhone would be $5 million. This is because of the initial level of research needed and the setup cost of producing a prototype, submitting patents, and copyrighting the work. Overall, while the initial model would be expensive to produce, once it is made and tested, the various versions of it would be less expensive hence the current cost of the iPhone X at $389.50.

Objectives of the Innovation The main objective is to become a leading competitor within the mobile phone industry. iPhone allowed Apple to not only become a frontrunner in mobile phones, but also remain the leader for the last decade and was a clear innovator during the 2010-2013-time frame. “Hardware design Apple is the hardware leader for all six generations of its iPhone” (Gong, 2013, p. 135). Therefore, the desire to become the leader in an industry is the chief aim.

The second objective is to create a product that is hard to replicate and therefore allows for highest possible profit margins. The iPhone is often bought at retail value or through cellphone contracts (Curwen and Whalley, 2016). Sources of Funding Stamm mentions in the later part of the text, sources of external funding. There are three avenues entrepreneurs can investigate: business angels, venture capital trusts, and corporate venturing. These sources can provide the kind of external funding that may cover the expenses of the planned budget.

Business angels provide an option for those interested in something other than venture capitalists. “…there are private investors who invest directly in small companies or start-ups n return for a share of the equity” (Von Stamm, 2008, p. 344). When they invest, these angels may end up on the company’s board offering insights and managerial expertise to management. These investors provide funding often at the very beginning of a product concept. Apple Inc. received venture capital in some phases of their product/concept process.

Business angels serve as the informal venture capital. “Informal venture capital is known as business angels, and these are private individuals with a high net worth” (McKelvey and Lassen, 2013, p. 64). The next external funding source is venture capital trusts. These are trusts that specialize in specific technologies or industries that met a set, select criteria. “The process tends to be more formalized than with individuals, in fact, the type of investment they can make is regulated” (Von Stamm, 2008, p. 344).

Venture capital trusts exists for several reasons, but one benefit to them is that they can provide private investors, tax incentives. Amazon.com had that kind of funding during its earlier stages. “The fund's largest single investment is not Amazon.com or Yahoo!, but CMGI” (Laderman, 1999, p. 174). The last option is corporate venturing. “In corporate venturing a non-financial corporation makes money available for investment in other companies, either directly or through a venture fund that is set up as subsidiary” (Von Stamm, 2008, p. 345).

Typically investments remain inline with a firm’s strategy- gaining access to a specific market or technology, or obtaining other perks that may enhance a company’s competitive edge. Amazon.com managed to do this regarding audible.com. They partnered up with them and Twitch to gain revenue through Prime subscriptions. This method allows companies that may not be connected to a specific industry expand and gain their foothold, developing a new loyal customer base. For iPhone, the potential new funding source can be business angels.

They are informal, and Apple has already implemented several major changes to the latest models of iPhone, the iPhone X. To secure funding for innovative products, business angels may offer the expertise and money needed while bypassing legislation. In fact, Steve Jobs during the initial startup days of Apple, had to sell property to come up with capital for the company. He managed to indirectly get someone to invest in their company through a convincing business deal.

“Finally, Jobs was able to convince the manager of Cramer Electronics to call Paul Terrell to confirm that he had really committed to a $25,000 order,” says Isaacson. Terrell confirmed it and then Jobs got parts on 30 days credit” (Score, 2018). Sometimes, the best way to get a company funded is through an informal mean. Key Stakeholders There are varying types of participation and often there are different types of creativity within the process of a project.

As Stamm shares, there is a degree of artistic creativity and degree of scientific creativity. It can go from engineer/chemist, inventor, and painter/composer. Steve Jobs was in the middle, an inventor. He used both scientific and artistic creativity to design the iPhone.

· He was a key stakeholder, (he was responsible for its success as the face of the product) · his team, (they helped design the iPhone and market it) · Apple Inc, (they funded the project and paid the salaries) · the customers who bought the iPhone, (they enjoy the product and develop customer loyalty to the company) · outside investors, (they potentially fund the company and the product’s creation) · and government regulators (regarding the safety and commercial selling of the product).

Overall, these factors are important regarding the cultivation of a project as complex as the iPhone. Methods and Measures of Success Measuring success can be difficult. One strategy offered by Stamm is a balanced scorecard. Balanced scorecards are aimed at offering a set of measures that balances various benefits and needs. Four areas covered by this strategy are: financial, internal business process, customer, and growth and learning (Von Stamm, 2008). There are other ways to measure success like through performance indicators.

For example, Stamm provides a firm performance indicator of “percent of sales by new products”. Other can be, launched on time, customer acceptance and satisfaction, met revenue goals, sales goals, and market share goals. These performance indicators reveal if the project was met with profitable and positive outcomes or can be labeled as a failure. There are other innovation measures like a return on innovation investment and brand innovation quotient.

A return on innovation investment is a total net profit from innovation that then is decided by R&D expenses, along with incremental production expenses, add to that initial commercialization expenses (Schramm, 2017). A brand innovation quotient is “rand innovation quotient: Number of repeat purchasers divided by total number of purchasers 3” (Keyes, 2016, p. 112). Apple uses a balanced scorecard to identify potential problems within their company. “Apple uses five performance indicators as part of a holistic approach to its long-term performance plan.

This includes customer satisfaction, core competencies, employee commitment and alignment (through a comprehensive employee survey), market share and shareholder value” (ETS, 2018). As one of the top six most used measures of success, it is a great means of any company to assess if their products contribute to the success or failure of the company. Measures can be made according to the desire for assessment relevant to the product. Like with the iPhone, sales and customer satisfaction would have been big measures.

Critical Analysis Apple overcame many obstacles to achieve the level of success it has. For example, with its innovation through iPhone and other products, they became a global power. That meant dealing with globalization efforts such as outsourcing and conditions of workplaces for employees in countries like China. One article notes how Apple Inc. had to deal with the growing concerns people had regarding the safety of their overseas employees and the quality of their products.

Globalization has opened holes in the walls that used to serve to police and protect states and their power authority. Societal aggregations can exist now between borders. Groups of individuals (and not just natural persons) incarnate abstractions of governance and then judge them in ways that are consonant with constitutional theory. These emerging realities have produced societal constitutionalism. But like conventional constitutionalism, societal constitutionalism seeks the comfort of equilibrium and stasis as the basic operating premises of self-constituting governance systems (Backer, 2013, p. 805).

Kindle Case Study The Kindle e-Reader was first unveiled on November 19, 2007 (Smith, 2011). The initial price of it was $399 and various versions went down making the Kindle 5 only $69.99. The only exception to the multiple generations of Kindle is the Kindle DX at $489. A product pioneered by the founder of Amazon.com, Jeff Bezos, he decided to allow his team to play with the Sony Librie to then create their own version of an e-Reader (Smith, 2011). The product became wildly successful and transformed into one of Amazons main flagship products.

Aside from making e-Readers, Amazon also ships products and works as an online retailer. The Kindle helped catapult Amazon into the success it needed to expand. Estimate Budget $3 million would be used for the project like the Kindle. Like the iPhone, it was original in its design. However, because it was a derivative of the Librie, not much innovation and planning needed to go towards its creation.

Therefore, the budget would be used for marketing and providing sales for the product to generate buzz among a customer base not used to e-Readers. Objectives of the Innovation The main objectives are to understand what can be done to transfer an existing customer base onto e-Readers. This customer base is used to reading physical books and thus the innovative product must be appealing to those not sure of the new change.

Furthermore, the other objective is to provide customers with a reading alternative that is convenient and can store a multitude of books in one, small device. The major appeal of Kindle is the convenience. Sources of Funding As explained prior, angel investors or business angels are important for many businesses. Amazon.com had angel investors. One of which was Thomas Alberg (Talmor and Vasvari, 2011). These kinds of investors provide the seed money to develop products, so companies can afford to do the research and plan the development.

Key Stakeholders The key stakeholder is Jeff Bezos because he is the CEO of Amazon.com. The employees working for him benefit from the success of the product. Angel investors like Alberg benefit as their initial investments multiply with success and profit of the product. Customers are also key stakeholders because their purchases help evolve the book/literary market. Measures and Methods of Success As with Apple Inc., a balanced scorecard can be a great means of measuring the success of a product.

For example, if one area has too much emphasis like customer satisfaction, then the profit area may falter. “In the 1990’s and up to the time of hiring Galli, Amazon’s business strategy was unbalanced from a balanced scorecard perspective. Amazon was over-emphasizing the “Customer” and “Learning and Growth” to the detriment of the “Financial” and “Process” dimensions” (FTS, 2011). Therefore, it is so important to address several topics to properly how well a product performs.

Critical Analysis Amazon had to deal with an uncertainty over an emerging market. Amazon had to beat Sony at the e-Reader game by launching a product that would become more popular than the Librie. They used angel investments to turn products like the Kindle into flagship products still being.