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For a manufacturing enterprise to succeed in this current volatile economic environment, a revolution is needed in restructuring its three main components: product design, manufacturing, and business model. This book discusses how globalization creates both opportunities and challenges for companies that manufacture durable goods. It proposes new technologies and new business strategies that can increase an enterprise's speed of responsiveness to volatile markets, and enhance the integration of its own engineering and business. The concrete tools, theories, and case studies will prove invaluable to engineers pursuing managerial careers in the manufacturing industry, as well as business students.