Question

DefenseSolutions is updating its automated contracting/ordering system. Kent Truvale, CEO of Defense Supply Corporation, told his chief information officer, "Travis, you must lead an effort to re-engineer our computer infrastructure to remain compatible with that of DefenseSolutions. This will be a complex effort but, if we can get this done before our competitors can, we will pick up a lot of new business worldwide. That's the nature of ________ —it complicates things and creates opportunities."

A) planning
B) technological change
C) emotional intelligence
D) social capital
E) controlling

Answer 1

Kent Truvale, CEO of Defense Supply Corporation, refers to 'technological change' as the nature that complicates things and creates opportunities. Technological advancements influence company operations and market competition, presenting both challenges and opportunities for businesses of various sizes.

Step-by-step explanation:

The nature of technological change is what complicates things and creates opportunities, according to Kent Truvale, CEO of Defense Supply Corporation. In the context of the evolving business landscape, technological advancements are transforming the way companies operate and compete. These changes provide a two-edged sword: on one hand, they allow smaller firms to expand their reach and market presence, potentially leading to a greater number of nimble competitors. On the other hand, they can facilitate the creation of 'winner-take-all' markets dominated by a few large entities, such as Microsoft or Amazon, that leverage technology to manage vast networks of operations and garner significant market shares.

Moreover, improved information and communication technologies also enable businesses to manage multiple plants and global operations more effectively, which potentially promotes the growth of larger firms. These dynamics spur significant interest among economists, businesspeople, and policymakers as they assess the ongoing tug-of-war between market forces favoring both small and large enterprises. Kent Truvale's statement encapsulates this challenge and the strategic importance of staying ahead in the technological curve to seize emerging business opportunities.