Competition can be a good thing for you, your competitor and particularly your customer. What are the ways in which competitors can benefit you? Competition may seem threatening at times, but the fact is that it comes with numerous benefits. This article discusses some of the benefits that competitors can offer to your business.
Sophisticated information technologies permit instantaneous communication among the far-flung operations of global enterprises. New materials are revolutionizing sectors as diverse as construction and communications. Advanced manufacturing technologies have altered long-standing patterns of productivity and employment.
Improved air and sea transportation has greatly accelerated the worldwide flow of people and goods. All this has both created and mandated greater interdependence among firms and nations.
The rapid rate of innovation and the dynamics of technology flows mean that comparative advantage is short-lived. To maximize returns, arrangements such as transnational mergers and shared production agreements are sought to bring together partners with complementary interests and strengths.
This permits both developed and developing countries to harness technology more efficiently, with the expectation of creating higher standards of living for all involved.
Rapid technological innovation and the proliferation of transnational organizations are driving the formation of a global economy that sometimes conflicts with nationalistic concerns about maintaining comparative advantage and competitiveness.
It is indeed a time of transition for firms and governments alike. This book provides a broad overview of these issues and seeks to shed light on such areas as the changing nature of international competition, influences of new technologies on international trade, and economic and social concerns arising from differences in national cultures and standards of living associated with adoption and use of new technologies.
Page 2 Share Cite Suggested Citation: The National Academies Press. On the one hand, their assessment made clear that though most technological advance occurs in industry, there are too few mechanisms for exchange of views on international technology and cooperation that involve both private and public sector representatives in a forum not constrained by the formal policies and stands of national governments.
There is great need for improved and more open lines of international communication on topics where engineering and technology intertwine with trade and economic growth. The second includes relationships at the institutional level, that is, the impact of technology on the management of businesses and industries.
The fourth relationship occurs at the international level.
Here information flows, trade frictions, and alliances characterize technological development, its diffusion, global competition, and economic advance. At the human level a key area of change is the invisible contract between a manufacturing company and its customers and employees.
In the factory, we are seeing a movement away from the expectation that workers should be organized to fit the technologies and a movement toward networking and Page 3 Share Cite Suggested Citation: As a result of this phenomenon, organizations that pursue single objectives may be less suited for survival than those that consider a broader range of issues that optimize the human, organizational, and technological elements.
At the institutional level, private enterprises are the principal instruments in many countries for developing and using technology, although governments play an important enabling role.
The task of private enterprises is to be knowledgeable about the current state of science and technology, to understand the needs of the marketplace, and then to create technologies, products, and services that best meet those market needs.
Morris Tanenbaum pointed out that this endeavor embraces many disciplines basic science, engineering, production, distribution, marketing, and finance and individual motivations.
Many participants and observers of the contemporary technological scene propose that we are going through a period of discontinuous change as the breadth of technological applications expands and the time scale of change becomes shorter.
This is particularly true with regard to the information technologies—the one technology most rapidly changing other technologies. It achieves its greatest power when it is most global; where it provides the means to obtain access to the information systems of other countries and establish arrangements that promote the transfer of technology.
Government plays a central role in technology issues at the national level.
Technology has now become a part of almost every political discussion as politicians have realized the impact of technology on world events. Public attitudes among various countries also differ, and these differences can affect governmental technology policy. In this respect, multinational corporations, responsibly managed and sensibly treated by the countries in which they invest, Page 4 Share Cite Suggested Citation: From an international perspective, the main issue is to sustain and improve world growth and improve growth per capita.
This breaks down into the problems of Western Europe, Japan, the United States, Eastern Europe and the Soviet Union, and the problems of the more and less advanced developing countries. Robert Malpas noted that it becomes essential for all these players to harness technology for growth; however, this effort is frequently constrained by protectionism, concerns about intellectual property, the demands of international marketing and finance, and, of course, national security.Competition in business is always a challenge.
Understand, and use, the definition of strategic planning by using business and sales plan examples. Understand, and use, the definition of strategic planning by using business and sales plan examples.
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Sprinting, in fact! At least during stressful times of business, business people think that it would have been better if there is no competition in business. But, this thought arises because of lack of knowledge on how to utilize competition for the growth of your business. In highly competitive markets, many firms are likely to bend the rules if doing so will keep their customers from leaving for a rival, according to new research by professor Michael W.
Toffel and colleagues. Case in point: service stations that cheat on . Technology -- and we mean the advances in communication and information technology -- has changed the face and the pace of business. As communication and information travels faster and faster, the world seems smaller and smaller, and this has large implications for the way we conduct business.
The business environment is greatly influenced by global forces and trends that tend to define how organizations interact with customers and respond to competition.
From advances in technology to.