BU111 Lecture Notes - Lecture 11: Information Technology, Switching Barriers, Complementary Good
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Document Summary
Information technologies affects information access, inter-firm cooperation, cycle times: not limited to computers and information. * affects what we produce/what it can do, affects how we produce and sell, how we manage and run organization. What is technology: advancements in equipment and its uses. Includes human knowledge, work methods, equipment, business processing systems. The various devices for creating, storing, exchanging, and using information. Consumers use it daily, i. e atm, shopping. Companies use it to gather and share information and execute activities. Where does technology come from: comes from human ingenuity. Formal and informal research & development (r&d)! Applied r&d specific problem in mind. Technology transfer out of the lab and into the world. Opportunities: products innovation, uniqueness, value, management and organizational processes. Create barriers to entry; cooperation with other firms; reduce cycle times. Within firm and with customers: competitiveness, customization. Information costly to develop but cheap to share: new technologies in unfamiliar areas.
