Companies often have a specific process for developing new products in which they complete certain steps in a particular order. However, sometimes a company may alter its normal process and use fast-tracking to speed up progress. The company engages in several different steps of the production process at the same time, instead of waiting for one step to be finished before starting the next. This allows the company to develop and begin selling a product more quickly. Fast-tracking is especially advantageous when a company wants to introduce a new product before any competing companies do, although the finished product might not be of the highest quality.
Now, listen to part of a lecture on this topic from a business class.
To give you an example, let's take your computer software company that creates computer games. This company typically produces new games using a system that has three main stages. First, it writes the story, then it creates the video, the visual part of the game. And finally, it tests the game by asking people to try it out. So production usually takes many months. But let's say that there's a popular new children's television program about a boy who has adventures with the sea monster. and The software company thinks it might be a good idea to make a computer game about the same subject. But it realizes that other computer game companies will probably have the same idea. So the company decides to use this strategy. so Instead of going through their usual procedure, the company works on all three phases of making the new game at once. They write the story while they develop the video, and they also start showing samples of the game to people right away. So the company is able to release the game for sale to the public quickly before any other companies develop anything like it. Although it isn't perfect, it's the only game on the market about a child's adventures with a sea monster, so the company expected to sell well
Explain the concept of fast-tracking and how it is illustrated in the example in the lecture.
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基础版本 (120词)
Fast-tracking is a method where companies speed up product development by working on multiple steps at the same time, instead of doing them one after another. This helps companies release products faster, especially when they want to beat competitors. However, the product might not be as high quality as it could be.
In the lecture, the professor gives an example of a computer game company. Normally, they follow three steps: writing the story, creating the video, and testing the game. But when they see a popular TV show about a boy and a sea monster, they decide to use fast-tracking. They work on all three steps at the same time, so they can release the game quickly. Even though the game isn’t perfect, it’s the only one on the market about this topic, so the company expects it to sell well.
This example shows how fast-tracking helps companies save time and compete more effectively.
高阶版本(180词,结尾总结句可以删减)
Fast-tracking is a strategic approach in product development where companies simultaneously execute multiple stages of the production process, rather than following the traditional step-by-step sequence. This method significantly reduces the time-to-market, enabling companies to gain a competitive edge by being the first to launch a new product. However, the trade-off is that the final product may not meet the highest quality standards due to the overlapping and accelerated processes.
In the lecture, the professor provides a concrete example of a computer game company to illustrate this concept. Typically, the company adheres to a three-stage development process: writing the story, creating the video, and testing the game. However, upon recognizing the popularity of a children’s TV show featuring a boy’s adventures with a sea monster, the company anticipates that competitors will likely develop similar games. To capitalize on this opportunity, they employ fast-tracking by concurrently working on all three stages—writing the story, developing the video, and conducting user testing. As a result, the company successfully launches the game before any competitors, leveraging its uniqueness in the market. Although the game may have some imperfections, the company expects strong sales due to its first-mover advantage.
This example effectively demonstrates how fast-tracking can be a powerful strategy in highly competitive industries, where timing often outweighs the need for perfection. It highlights the balance between speed and quality, as well as the importance of strategic decision-making in business.
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