Product companies in the 21st century must be nimble and capable of fast execution. Competition has never been so fierce because of the proliferation of the global economy, including typical market competitors, former manufacturers and future competitors who currently work within the company.

Historically, companies mainly faced competition within the U.S., but the ease of transportation and marketing via the web makes anyone a potential competitor. While technology increases speed of product development, technology, such as 3D laser scanners and mass spectrometry, increases speed of reverse engineering or copying others’ products.

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