Final answer:
The last decade of the twentieth century experienced significant changes in business practices, moving away from conservatism towards innovation, driven by technology and globalization. This period saw the rise of the Internet and B2B websites, redefining markets and increasing global competition.
Step-by-step explanation:
The last decade of the twentieth century was indeed a period of rapid change for organizations, especially businesses. This era was marked not by conservatism but by innovation and significant shifts in how markets operate due to two interconnected factors: technology and globalization.
Technological advancements, particularly in communications, transformed the corporate landscape. The emergence of the Internet revolutionized how consumers and businesses interact, leading to increased competition, especially for local retailers. Consumers gained the ability to purchase goods from all over the world, not just locally.
Parallel to the rise in consumer power was the advent of 'business-to-business' (B2B) websites. These platforms have enabled companies to seek suppliers or buyers globally, intensifying competition and pushing businesses towards innovation to survive.
6.6: The rise of the Corporation lesson illustrates that the pace of technology development has significantly impacted the growth of corporations since the nineteenth century. Similar to the Industrial Revolution, the changes in the late twentieth century were drastic and led to new market definitions and economic structures.
In summary, while the 1920s were a time of social, economic, and political changes, the 1990s were characterized by a shift towards globalization and technology-driven markets. This period required businesses and government policies to be innovative rather than conservative to adapt to the changing economic environment.