ADMS 1000 Study Guide - Final Guide: North American Free Trade Agreement, De Facto, Natural Monopoly

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Unknown

Document Summary

New industry emergence: new technology, change in regulation. Industrial evolution: the lifecycle of all industries follows an inverted u shape, four phases in the industry lifecycle, introduction. Large firms lag or do not enter the market yet: too risky/large overhead costs, not as flexible, and very bureaucratic. At the end of the introduction stage, a dominant model emerges: de jure gov"t imposed, de facto emerges out of common use. Firms that are unable to follow this model leave the market: follows after the peak of the inverted u. More economies of scale and less innovation: maturity. Competition intensifies and businesses strive to further diversify their products from competition. Technological innovations: discontinuous/radical/breakthrough, continuous/incremental, can be, competence enhancing, competence destroying, modular innovations, architectural innovations. Technological evolution structure: discontinuities appear at rare intervals and can dramatically affect industry, period of ferment (and uncertainty) ends when a dominant design emerges.