Competitive Business Landscape
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Technology is an important component of the business environment. Describe how technology is changing the competitive business landscape. In your answer, include example's of how technology has impacted specific businesses or industries.
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Solution Summary
The solution talks about the effect of technology on geographical barriers, efficiency and customer bargaining power in business. 286 words with references.
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Competitive business landscape has been changed by information technology. The rivalry within industries has intensified. Information technology has increased efficiency by decreasing costs and improving quality. For instance, computer aided designs has reduced the cost of designing fashion clothing and has improved its quality. Further, technology has restructured supplier relationships. The interconnection of the businesses with suppliers increases interdependence but also gave higher bargaining powers to buyers. Consider the example of Wal-Mart it has compelled its ...
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- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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