Business philosophies

4. the concept of mass collaboration in the digital age to drive innovation
9. collaboration cooperation among equals to create or improve something
10. of scale cost advantages gained by increasing production volume
11. long tail the strategy of selling small volumes of many niche items
13. working together to achieve a shared goal
15. made specifically to meet an individual customer’s needs
17. a simplified representation or system used to describe how something works
20. what customers or users require or expect
21. a fixed quality or technical specification to meet requirements
22. consumers who also contribute to the design or creation of products
25. comparing performance with industry leaders to identify improvement areas
26. to reduce something by 50%

1. creating value collaboratively between company and customer
2. designed and produced to match a particular person or purpose
3. the process of making products consistent in quality and format
5. contracting work to external suppliers or specialists
6. secrets confidential information that gives a business a competitive advantage
7. detailed descriptions of requirements for materials or products
8. how well something functions or achieves results
9. lines sequences of steps in a factory where products are assembled
12. practice the most efficient or effective way of doing something
14. the person or entity that purchases goods or services
16. collaboration large-scale cooperation of individuals on a common task or project
17. customization producing personalized goods at near mass production efficiency
18. production the manufacturing of large quantities of standardized products
19. a list or collection of products or services offered
23. conditions or capabilities needed in a product or service
24. curve the rate at which someone gains experience or efficiency in a task