ADMS 1000 Chapter Notes - Chapter 7: De Jure, Standards Organization, Dominant Design

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: N A

Document Summary

Adms1000 chapter 7: competitive and technological forces . U-shaped, closely related to the evolution of technology. Entire product category not a single product or firm. Many small competitors, hoping to emerge as a market leader. Ex. overturned the ban on private health insurance -> opening the door to the creation of a private health care industry in canada. Large firms tend to lag behind smaller ones because it has high overhead costs, need to generate financial returns. Usually has bureaucratic organizational structures, inhibit their ability to move quickly. Early adopters willing to pay a premium for the privilege of owning a product before most other people want it. No clear boundaries, segments are not well defined. Highly unstable, fail shortly, impossible to predict will survive and grow. Technical difficulties, financial troubles, mismanagement, slow customer adoption, high cost. New industries can suffer quite severe growing pains and may never develop into mature industries.