SGMA 217 Chapter Notes - Chapter 4: Entrust, Complementary Good, Virtuous Circle And Vicious Circle

• School: University of Calgary
• Department: Strategy and Global Management
• Course: SGMA 217
• Professor: Norman Althouse

Document Summary

Financial performance is affected by technology: companies must continually invest in research and development to stay on top of technology changes, which negatively affects financial performance in the short term. Long-term technology allows businesses to better access to information on their buyers" needs. Transforming business: businesses use technology daily to respond to the demands of the customers and other stakeholders. Information technology: loyalty cards, to track customer purchases. Businesses have better information about their customers and can respond to changing demographics. Software/system development life cycle: making sure that technologies are relevant to the business, maturing technologies need to be assessed to ensure that they are consistent with the business"s vision, have to consider costs. Installing a new tech on top of inefficient business processes is a waste of time and money: businesses must consider the human adaptability and cost of training for new technologies. Technology changes: advancements in technology can create opportunities or a threat for a company.