What is a good?

A good is a useful, consumable item (physical or virtual) that is produced via human effort. In basic economic theory, goods are often distinguished from services. Products are goods, which has important implications for their management, particularly in relation to services.

A critical implication of differentiating goods from services: A great PM can’t necessarily define a great service, e.g., consulting, and a great consulting manager probably can’t define a great product without significant professional development.