BU111 Lecture Notes - Lecture 1: Airbnb, Complementary Good, Information Overload
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Document Summary
Back in the day, due to a lack of tools, communities were rather more connected. There was a bonding created when there was no tech. 5 industries that have changed by technology: http://www. companydebt. com/5-industries-radically-changed-by-the-internet/ Internet, it, and not limited to computers and information. Devices & software for creating, storing, exchanging, and using information. Smart tech: electricity, steam, assembly line, trains, planes, cars, mass media, telecommunications, computers, internet, collect, analyze, learn, connectedness; action. Access to information (better service, efficiency, independence, big data/better decisions. Competitiveness (create entry barriers, cooperation with other firms, reduce cycle times) Communication and collaboration (within firm and with customers) Imitation (information costly to develop but cheap to share) New technologies in unfamiliar areas (challenge organizational capabilities & resources) Technology standards (enables compatibly of complementary goods) Target: mainstream, high-margin customers with enhancements in product functionality. Different performance attributes not valued by mainstream. Starts in lower performance segment, improves rapidly; enters mainstream market.
