Description
Question:
1. Discuss how the technology affects industry structure and competition.
2. When does diversification create value? Give examples from domestic or foreign market.
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Explanation & Answer
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Running head: TECHNOLOGY AFFECTS INDUSTRY
Technology Affects Industry
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TECHNOLOGY AFFECTS INDUSTRY
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Technology Affects Industry
How technology affects industry structure and competition
One of the major impact of technology with regards to industry structure and competition
is the improvement of communication. Telecommunication is a technological advancement that
has seen communication between different firms in the same industry possible. At times, though
the companies in the same industry are competing, they need to communicate. With regards to
issues affecting the industry, it’s possible to raise an issue and every party in the industry will get
to know it in a few (Song, 2018). Communication has changed how things are ...