BU111 Lecture Notes - Lecture 9: Risk Aversion, Switching Barriers, Complementary Good
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BU111 Full Course Notes
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Document Summary
Information technologies affect information access, inter-firm cooperation, cycle times: not limited to computers and information. Business implication: affects what we produce/what it can do, affects how we produce and how we sell. What is technology: advancements in equipment and its uses, often substitutes for/magnifies human efforts, includes human knowledge, work methods, equipment, business processing systems. Includes information technology: the various devices for creating, storing, exchanging, and using information, consumers use it daily, i. e. atm, shopping, companies use it to gather and share information and execute activities. Where does technology come from: comes from human ingenuity. Applied r&d: specific problem in mind. Technology transfer: out of the lab and into the world. Internal combustion engine: autos, mass transit, airplanes, mass media, telecommunications, computers. Internet: music, retail, publishing, travel, transport, http://www. companydebt. com/5-industries-radically-changed-by- the-internet, smart products/internet of things. Talks about changing technology + demographics and their implications: Communication and collaboration: within firm and with customers. Imitation: information costly to develop but cheap to share.
