Buy vs. build is the difference between buying a ready-made product or service and realizing it yourself. Choice, being a selection of a variety of products or services done by either a consumer or a company when they require a particular product or a service, is the decision-making process that refers to the investment in the solution that already exists and has been certified in the market or building new for specific needs (Madison 3-5). This option has excellent consequences regarding costs, time, resources, and results.
In purchasing a product, you will get an immediate working solution, a lower acquisition cost, and a lower risk. Customers will thus not have to spend money and time on research, development, and testing when they purchase ready-made products and services. So simple, it is both time and money-saving – those with much of the latter or none of the former’s resources appreciate it most (Madison 10-17). Also, getting an existing product or service gives assurance, as they have undergone testing by the market; hence, no uncertainty or failure comes with it.
Buying goods and services also needs improvement. The primary issue is compatibility due to customization. The product or service has already been developed, so the users might feel weak citizen power/freedom about the quality of the service/product, which can be a problem when the solution fails to meet their specific needs/requirements (Madison 10-18). Another area to be developed is the concentration of potential costs arising further on, for example, maintenance costs or renewal of licenses. Moreover, it also turns the company into being dependent on the vendor, which could be better because for any changes or updates in a solution, the decisions will be carried out as per them, and we have no control over that. On the contrary, a finished product or service up to the last detail matches customer requirements exactly. The user is developing their solution considering their needs, and customization possibilities result in building the solution that fits perfectly. The building facilitates learning and skill acquisition – knowledge and experience are gained in construction (Madison 10-18). Another angle is that it is also an investment because the ownership control is still with the owner.
The distinction between buying and building is the contradiction between purchasing an existing product or service and returning to the beginning. The process of making a choice is how the person or a company goes through to get a desired product or a service. It is about the dispute between the old trap and a new stream of inventors in investing based on an existing successful solution known in the market or creating a product to solve unique requirements (Madison 3-5). This decision entails far-reaching implications regarding costs, time, resources, and outputs, among other factors.
In the process of purchasing a product, you obtain access to a full-function solution, which is cheaper and has a more negligible risk. Buying scarce products and services allows buyers a considerable amount of resources (both time and cost) to implement the research, development, and test processes. It will also support budget- and time-saving initiatives, which are more crucial for small businesses and individuals than big businesses due to limited financial resources (Madison, p. 10-18). Furthermore, a purchased product or service provides a safe feeling as this has already been tested in the market without any problems.
Yet, buying goods or services has its setbacks. The biggest problem is the task of personalization. Suppose the service or product is already developed and purchased by the user. In that case, it can have fewer features or capabilities than the need or requirement, which will be severe (Madison 10-18). Also, yet another problem is that in a carefree period, additional expenses can show up, like service fees and licensing fees or new licenses. Therefore, after the purchase, the organization will also rely on the vendor, and all decisions will be considered based on their interests only. Contradictorily, product/service development down to the most minor details offers full customization capability. Customers can develop personalized ones that fit their requirements and preferences, resulting in an optimal fitting solution to their specific needs. Momentarily, learning and skills acquisition developments are observed due to knowledge and skills gained through the construction process. It can also be considered an investment, as the ownership and control remain with the creator.
Work Cited
Madison, Elisha. Analysis of a Build vs Buy Approach to Software Acquisition For Student Government. Diss. 2018. https://core.ac.uk/download/pdf/233576738.pdf
write