ADMS 4900 Chapter Notes - Chapter 8: 3D Television, Process Engineering, Radical Change

• School: York University
• Department: Administrative Studies
• Course: ADMS 4900
• Professor: Jon Kerr

Document Summary

The emphasis on various basic strategies, functional areas, value-creating activities, and overall objectives varies over the course of an industry"s life cycle. In general, the industry life cycle implies a gradual progression from one stage to the next. However, sometimes rapid and discontinuous change takes place, leading to unpredictable industry transformations. Industries are transformed by innovation or major shifts in the external environment, such as regulation, globalization, and dramatic changes in the economy. Frequently, though, the change comes from within, as competitors fight for position and develop different competitive advantages; customers" preferences shift; or suppliers use technology, regulation, or consolidation to gain bargaining power. Radical change occurs when core activities and core assets both face the threat of obsolescence. Industry life cycle: strategies in the introduction stage. = in the introduction stage, products are unfamiliar to consumers, market segments are not well defined, and product features are not clearly specified.