BU111 Chapter Notes - Chapter 6: Rebar, Risk Aversion, Field-Sequential Color System
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BU111 Full Course Notes
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Chapter 6: technological factors: the internet affects buying, selling, and communication. Now we can buy from anywhere around the world because of the internet. Who we sell to and how we choose to sell is influenced. Ex: facebook communication has changed dramatically who/how we connect is important. Information technologies affect information access, inter-firm cooperation, cycle times. We used to have to contact and place the order between firms, but now we can access their systems and place the order ourselves. Cycle time: how long it takes to develop a new product faster as we don"t need to actually build them from scratch; computer simulators do all the work reduces cycle time. New technologies and products smart phones, cars that park themselves: not limited to computers and information. Affects what we produce/ what it can do affects how we produce and sell how we manage and run organization: challenge: requires constant learning and actively investing.
