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Impact Of Technology On Business Today
Impact Of Technology On Business Today
Impact Of Technology On Business Today
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Technological change and manufacturing process innovation
In the software industry, the level of technological change is extraordinary. According to IBIS World (2010), chip manufactures for instance AMD, Nvidia, and Intel produces new computer components every six month range. The retail value of these components decreases in value rapidly due to the short cycle of the product. Because of this, the manufactures keep the inventory slim and plan for rapid inventory returns. This makes it feasible to produce better and new parts at a reduced cost. As a result of advancements and technological changes, consumers have welcomed enhancements and computers in communications and entertainments they offer. Companies have also been more passionate in relation to the technological change in software and computers which they use to improve productivity and design new products.
Increasing globalization
The competition in software industry has changed from national to international focus. The software industry is greatly influenced by globalization. In the software industry, the biggest firms have shifted their production facilities to low wage countries. This shift allows manufactures to provide reduced prices on their good so as to compete internationally. Worldwide competition additionally decreases the price of computers also due to labor cost. According to IBIS World (2010), computer imports corresponds to 46.5% of domestic demand and by itself, it can be a great danger for local firms competing with oversea companies.
Additionally, there is an increase in globalization in the wholesaler distributing agent. For instance, Ingram Micro acquired one of the biggest technology distributors in the Pacific region in 2004. As a result, this...
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...o and Apple launched iPad in 2011. Therefore, to stay on top of the competition, it’s important to be the first to make invent a new product.
Talented Workforce
It is very vital for a firm to possess talented labor force owing to the competitive nature of the PC industry. As a result of constant technological innovations, a firm without brilliant employees will be left behind which might be catastrophic to the business. Excellent gifted employees are the individuals behind the triumph of a company.
23. Does your overall assessment of the industry suggest that industry rivals have sufficiently attractive opportunities for growth and profitability? Explain.
In my opinion, industry rivals have sufficiently attractive opportunities for growth and profitability due to that fact that intensity of rivalry is very since there are many computer software manufactures.
PC industry is affected by two opposite forces: technological advance that pushes the industry forward and the industry sensitivity to economical stagnation (if the economical situation is bad customers won't upgrade their computers).
A second alternative is a shift in marketing focus towards a new target segment and improved product. A strong and unified market strategy can strengthen synergies through new collaboration. Given the rapid growth, it is essential to reach influential segments that can create a mass appeal over the broader market. Doing so, will also require improving the quality of their product by focusing more on programming and less on hardware sales. A possible benefit would be creating a niche market that enables a rapid brand expansion. On the other hand, a possible drawback would be not being able to handle rapid
Exploring the profitability of this industry, domestically retailers are struggling to maintain high profit margins. The solid industry growth expected for the coming years is highly supported by the economic turnaround in 2011, however many small retailers are feeling the pressure of low-cost imports . Reduced imports and the continued shifting of manufacturing operations to low-cost countries, creates a trickle down effect onto the fragmented market of companies, with a mix of small and large participants (see Exhibit 2). Increases in price-setting control of wholesalers, are causing downst...
In 1976, Apple was just an idea being made in a garage by Steve Wozniak and the well-known owner of Apple, Steven Jobs. The two were college drop-outs and were looked at as outcasts. The first invention that Apple introduced was the Apple I. On April 1, 1976 Apple computer was made a reality (Glen). The company did not take off until 1977, when Apple introduced the Apple II. The Apple II was the first personal computer to have plastic casing and color graphics (Glen). Then in early 1978, the Apple Disk II was invented. It was Apple’s most inexpensive product of the time and had easy to use floppy disk (Glen). By 1980, the Apple III had been invented and the sales were increasing and so was the company. Apple had several of thousand employees and managers and had developed many investors. Fast forward twenty-one years to 2001, when Apple made the iPod. From there Apple grew like wildfire, with the invention of the iPhone in 2007 and many version...
Capital requirements to set up an assembly line to produce PC's are also relatively low, estimated at roughly a million dollars (Rivkin & Porter,1999 pg. 5) which means that virtually any firm can enter the market easily. Despite sky rocketing demands for PC's, PC producers are unable to capitalize due to increasing number of competitors. The PC industry is also affected by environmental turbulence due to price fluctuations of its components. Constant innovation in PC technology causes older components to be rendered obsolete and prices of older versions to plummet. PC producers who are stuck with inventory of obsolete products incur high costs of dumping these components.
Research industry, target market, and competition. Indicate at least one positive and one negative factor for the current state of the industry, target market, and your competitors.
The PC industry is highly competitive and constantly changing as technology evolves and customer needs change. Some of the top competitors in the PC industry are IBM, Hewlett-Packard, Dell and Apple. Theses rivals are constantly jockeying for the top competitor’s position. They compete in prices, product innovation, advertising, etc.
The organization has had to ensure that it has retail stores in many countries globally and website options in more than 100 countries. The company further enhances access of online stores in more than 37 countries which is accessible all the time and people are able to access the services regardless of their location. Globalization further affects the organization in the sense of international market management which requires it to engage in strictly global decision making. The organization’s production networks have been geared to enhancing global competition (Lüsted, 2012) .The Company is further good when it comes to seizing the opportunities available in global market. For the organization to find efficient as well as cheap means of production, it has to bargain hard so as to allow its contractors to have low profits. This mostly is consequential to the suppliers cutting corners with the use of cheap
...ive global marketplace which is experiencing a trade concentration and the emergence of large-format retailers and discounters.
QUESTION 2: BUSINESSES GROW WHEN THEY HAVE THE RESOURCES TO EXPANDAND OPPORTUNITIES EXIST FOR GROWTH. EXPLAIN HOW THE ACQUISITION OFBERENDSEN PROVIDED SUCH A GOOD OPPORTUNITY FOR THE DAVIS SERVICEGROUP.
3. Analyze BP using the five forces of competition model to determine the industries current attractiveness in terms of profits potential
...t cell phones. Then, in 2010 Jobs outdid himself by introducing the iPad. It was a perfect gadget for all gamers, geeks, or people who just wanted this amazing technology at their fingertips. The iPad had a significantly larger screen than the iPhone and was capable of holding more data.
The global economy has enabled customers to enjoy a buyer’s market where the company with the most competitive price possible for a product or service receives orders from customers around the world. The burgeoning world ...
Vol. 20, No. 3,285,053. Mann, Catherine L. "Globalization, Prices of IT Software & Services: Measurement Issues. " Academic Search Complete.
In order for a firm to compete within its industry, it must plan and relate to the industry