Kindly assist with the following questions.
1. How do countries achieve competitive advantage using technology? Identify the role technology can play in establishing competitive advantage.
2. What are the risks associated with using technology for competitive advantage?
3. Can competitive advantage be achieved primarily through innovation in technology?
One or two paragraphs for each bullet above. Please also include scholarly references
Competitive Advantages using Technology and Its Role
Technology helps countries to achieve competitive advantages through upgrading their information and communication systems. It helps the countries to provide effective infrastructure to the businesses, so that they can improve their productions level and achieve competitive advantages in the global industry. Similarly, technology also helps the economies to enhance the effectiveness of R&D activities and spread information of these activities to the businesses operating locally to upgrade their processes and add new processes to compete internationally, which ensures competence of an economy in global world (Grimpe & Sofka, 2009). At the same time, through assembling technology, a country's organizations enable to differentiate their products and services and reduce cost of producing these from other countries' firms that create competitive advantages for an economy in different industries by facilitating economies of scale.
In order to establish competitive advantages, technology helps the companies to develop their production capacity with high quality products and services. It helps to improve their value chains by accessing information through using technology, which is beneficial to establish competitive advantages in the markets and consequently develop strong market share of a country in particular industry (Wang, He & Mahoney, 2009). The IT can be used to facilitate such ...
Effective use of Information technology is an important resource for achieving competitive advantage for countries and firms. This response discusses how countries achieve competitive advantage using technology, risks associated with using technology for competitive advantage, and achieving competitive advantage primarily through innovation in technology.