Question

Anna recently left a large insurance firm and opened a home-based business preparing medical transcriptions for doctors. Based on recent statistics, she can expect:

A. a negative reaction from friends and family who wonder when she will get a real job.
B. the emergence of affordable technology will make it less challenging for her to compete with larger firms offering the same service.
C. the government will discourage her attempts to create a home-based business in the hopes that she will opt for locating in an enterprise zone.
D. to find security, routine and a paycheck from her new enterprise.

Answer 1

Anna can expect advancements in technology to level the playing field with larger firms and should consider the inherent challenges of balancing between small business agility and large firm competitiveness in her new venture.

Step-by-step explanation:

Based on recent statistics and the discussion regarding the impact of new information and communications technologies on business sizes, Anna can expect that:

• The emergence of affordable technology will make it less challenging for her to compete with larger firms offering the same service.
• There will be an ongoing battle between small and large firms due to technological improvements.
• Technological disruptions may cause some firms to lose money or go bankrupt, but they are generally seen as a necessary cost for progress and innovation.

During Anna's venture into a home-based business, she will likely need to navigate through the changing landscape of industry competition fueled by technology, but it is possible for her to find success if she can leverage new technologies to her advantage.