Emerging Industries & Management Technology

Technology Changes – as he said. “as long as there is innovation, there is going to be new kind of chaos”. His experience as a consultant led him to realize that most people needed help with technology and that they saw value in a service whose employees would show up at a specified time, be friendly, use understandable language and solve the problem.

In modern society with technology being so closely tied to having a competitive advantage, a lot of industries compete to keep up to date with new developments. The invention and increased use of computers, internet, and phones have all made a major impact on organisations around the world.

Because of the industries potential being so lucrative, the array of products that one can specialize in is there to be utilized. The only problem would be that the new entrant into this industry, due to the high demand of better products and the established companies expanding to satisfy this demand, would have to enter on a large scale of one product or many products.

And in this amalgam of rapid technologic evolution, there are some specific parties which are not taken by surprise, but which embrace all changes and look forward to each innovation and advancement. These particular parties are the ones for whom technologic advancement is the true advantage and for whom it would cerate competitive advantages.

If any firm fails to implement new technology changes, it will not possible to survive in the market. Individual and firms need to be implemented technological changes so they can utilise to achieve their objectives.

·The advance in technology can make it possible to produce new and better products at a lower cost. This can cause changes in the capital requirements, and even the learning or experience curve effects.

The industry is considered to be very competitive with a number of firms entering the marketplace to address the needs of the consumers. Over the course of time, this can create sudden shifts as to

Competition: The competition of a company’s speed of innovation is what shapes the market today and in the future. A company must retain the ability to innovate as fast if not faster and as good as the competitor, new and old. New competitors can

Technological innovations are providing new means of developing, sourcing, managing, and delivering applications and services. Businesses are more in need to find technological solutions to aid their achievement of long-term financial sustainability as the economy has become more global. The dynamic transformation of computers being able to communicate with each other has brought out a revolution which affects every industry within the economy. Skills in web design and computer programming are in demand by businesses allowing opportunities for one to grow.

There have been many technological advances over recent years which have impacted upon business. These advances have enabled organisations to expand into different areas, move business online and into the global market, sometimes without leaving their home country.

To compete on a global scale in business you must evaluate what it is that your company is bringing to the industry and what differentiates it from the slew of multinational rivaling products or service providers. “Choosing” an industry is not the way to plan your business, rather to create or expand an industry so that you are able to secure your position with buyers before the competition inevitably floods the emerging market.

For example, the (conventional) personal computer (PC) industry would include PC manufacturers like Dell and Apple, suppliers of semiconductor chips like Intel and Micron, suppliers of disc drives like Seagate, suppliers of software such as Microsoft, etc. Substitute products could be pen-based tablet PCs or small hand-held personal digital assistants (PDAs). In the five forces framework described below, manufacturers and producers will be designated as (1) competitors in the industry if they already have established products, or (2) new-entrants if they are trying to enter the industry, or (3) substitutes, if they provide alternative (substitute) products. The term market denotes the buyers (or customers) of the product or service. For example, the market for PCs would include enterprises and individual consumers.

The industry is at a growing phase of development. Given its wide product range, there is enormous room for growth in

When there is rapid change in the industry, with such as the need to replace out of date machinery, and incumbents are slow to made needed investments, then this can play to the advantage of new entrants.

The purpose of this study is to know the industries grow through a series of stages from growth through maturity to decline. The industry life cycle is useful for explaining and expecting trends among the six forces that drive industry competition. There are two types of industry which are fragmented industry and consolidated industry. Fragmented industry occurs when the people always buy the product when an industry is new. When an industry enters maturity, it occurs in consolidated industry. Based on (Horry Domash, 2009) fragmented markets that have many participants are usually price- competitive make the markets