BU111 Lecture Notes - Lecture 5: Risk Aversion, Information Overload, Switching Barriers
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BU111 Full Course Notes
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Document Summary
Elements: internet affects buying, selling, communication, information technologies affect information access, inter-firm cycle, not limited to computers and information times. Business implication: affects what we produce/what it can do, affects how we produce and sell. Advancements in equipment and its uses: often substitutes for/magnifies human efforts, includes human knowledge, work methods, equipment, business processing systems. Includes information technology: various devices for creating, storing, exchanging, using information, consumers use it daily (ex. Atm, shopping: companies use it to gather and share information and execute activities. Applied r&d specific problem in mind. Technology transfer out of the lab and into the world. Management and organizational processes: instant access to information, better service through coordination, leaner organization, improved operations efficiency (ex. Cad- computer aided design: greater independence of company and workplace, create barriers to entry; cooperation with other firms; reduce cycle. Competitiveness: times (ex. customize product online and order online) Communication and collaboration within firm and with customers.
