5 Questions
Give an example of how technology is changing the publishing industry.
Digital publishing, such as electronic books.
What is one way the retail industry is adapting to technological changes?
Moving from brick and mortar stores to Internet sales.
Why must firms in all industries become more innovative?
To survive.
What type of information system do most firms need to support their new product development efforts?
Sophisticated information system.
What type of support do countries offer to increase the success rate of new technology ventures?
Development of technology business incubators.
Study Notes
Impact of Technology on Industries
- Technology is changing the publishing industry, for instance, with the rise of e-books and online publications.
Adapting to Technological Changes
- The retail industry is adapting to technological changes by integrating e-commerce capabilities to stay competitive.
Innovation in Firms
- Firms in all industries must become more innovative to remain competitive in a rapidly changing market.
Information Systems for New Product Development
- Most firms need a product lifecycle management (PLM) information system to support their new product development efforts.
Support for New Technology Ventures
- Countries offer various forms of support, such as funding, incubators, and tax incentives, to increase the success rate of new technology ventures.
Quiz: Test Your Knowledge of Technology and Innovation in Today's Changing Industries
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