What is Product Wellbeing and why it’s important for Companies success?
Products are the things that bring revenue to companies and way to make profit, which all companies target at. Products can be seen as physical or service or combination of these two. So products have very important role in companies success.
Product Wellbeing model has three layers and elements in layers as shown in figure below. First layer shows elements for successful products for a company. The company need to make Strategical decisions, what is their target with Products. Second layer is Productization, which shows those tactical decisions, which company need to make to be able to fulfil strategy. Third layer is Product Wellbeing layer, which shows what should be the operational focus elements to get strategy to daily actions/business.
Figure 1. Product Wellbeing Model.
If company is focusing only on some of these layers and elements, company is not getting best possible benefits from it’s products. Also investment to one area is not so valuable, if other areas are not in balance with others. Very important is to understand maturity, where company is with it’s product wellbeing elements and develop and maintain these based on this information.
If you are interested to know more about how this product wellbeing model helps your company to
- reach better productivity in different areas
- deliver better quality products to your customers
- improve profitability
contact us and we tell more how we are helping companies creating product wellbeing model.