ADMS 1000 Lecture Notes - Lecture 7: Market Power, De Facto Standard, Technology Life Cycle

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Indira Somwaru

Document Summary

Industry life-cycle model: all industries evolve through specific phases from their early emergence and growth to their eventual maturity and decline. High degree of innovation, different versions of products with different features and technologies: type of customers: customers willing to pay a premium, new, small, unknown or unrecognized causes a firm to lack legitimacy. It is a standard in fact or in practice : shakeout: standard has been achieved. Decline stage doesn"t mean that the industry is over. Radical innovations: new technical processes or advancements mark a significant departure from existing practices. Referred to as discontinuous because they do not continue to build on the previous technological regime, but mark a shift to a completely new technology. Incremental innovations: when a company makes relatively minor improvement or modifications to an existing product or practice in the hopes of differentiating it from the competition. A cyclical model of technological change (alberthy-utterback model)