Emerging Industries & Management Technology
SCHOOL OF BUSINESS AND ECONOMICS
STRATEGIC MANAGEMENT & INNOVATION
MGT 611
EMERGING INDUSTRIES & MANAGEMENT TECHNOLOGY.
DATE: 15TH JULY, 2011
INTRODUCTION
Technology is a greatly dynamic field. Tools and systems of technology are constantly and ever changing. New ideas and innovations are coming up every other hour. The think tank of new technologies never sleeps. Needless to say, users of the same are always on the lookout for newer, better, cheaper and easier to use systems and tools of technology; those that offer faster and more convenient services than the previous. In view of this, technology based industries have no much choice but to keep abreast with the new and emerging changes in the industry. The growth in the technology industry brings with it a sharp rise in competition just as may be the case in all other growing industries. Technology based industries therefore need to determine and build on their competitive advantage as a way of ensuring sustainability in their dynamic environment of operation. ‘’In the expanding global economy, emerging technologies are creating and transforming industries at an unprecedented rate’’ (Mack Centre for Technological Innovation)
This paper attempts to discuss the emerging industries and management of technology in light of the following three issues:
1. Determining the competitive advantage in technology based industries
2. The role of technology in sustainable strategy development
3. The appropriate strategies which should be exploited in the age of 21st century .
DETERMINING THE COMPETITIVE ADVANTAGE IN TECHNOLOGY BASED INDUSTRIES
As stated earlier in the introduction, determining a competitive advantage becomes extremely important for technology based industries in order to attain sustainability in the ever changing environment of technology. The competitive advantage in technology based companies can be determined as outlined below.
Competitive Advantage
Is defined as the set of
STRATEGIC MANAGEMENT & INNOVATION
MGT 611
EMERGING INDUSTRIES & MANAGEMENT TECHNOLOGY.
DATE: 15TH JULY, 2011
INTRODUCTION
Technology is a greatly dynamic field. Tools and systems of technology are constantly and ever changing. New ideas and innovations are coming up every other hour. The think tank of new technologies never sleeps. Needless to say, users of the same are always on the lookout for newer, better, cheaper and easier to use systems and tools of technology; those that offer faster and more convenient services than the previous. In view of this, technology based industries have no much choice but to keep abreast with the new and emerging changes in the industry. The growth in the technology industry brings with it a sharp rise in competition just as may be the case in all other growing industries. Technology based industries therefore need to determine and build on their competitive advantage as a way of ensuring sustainability in their dynamic environment of operation. ‘’In the expanding global economy, emerging technologies are creating and transforming industries at an unprecedented rate’’ (Mack Centre for Technological Innovation)
This paper attempts to discuss the emerging industries and management of technology in light of the following three issues:
1. Determining the competitive advantage in technology based industries
2. The role of technology in sustainable strategy development
3. The appropriate strategies which should be exploited in the age of 21st century .
DETERMINING THE COMPETITIVE ADVANTAGE IN TECHNOLOGY BASED INDUSTRIES
As stated earlier in the introduction, determining a competitive advantage becomes extremely important for technology based industries in order to attain sustainability in the ever changing environment of technology. The competitive advantage in technology based companies can be determined as outlined below.
Competitive Advantage
Is defined as the set of
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