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Does Technology change always benefit businesses? Explain your answer with 2 justified answers

User Ecjb
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15 votes

Answer:

No. Technology change can either threaten or make a business. Two exaples are given below where new technology, initially thought benefical to a business, wound up threatening it.

Step-by-step explanation:

Technology change has brought many benefits to society that largely improve health and the standard of living. But for individual businesses, there is as much threat as there is opportunity. Let's look at two examples of how new technology became a threat:

Netflix

The development of DVD technology was initially a boon for rental movie chains such as Blockbuster. Customers liked the new DVD technology and this helped increase their business. But it also woyund up being a threat. DVD's allowed the innovation that movies can be sent by mail, since the small discks were mush less expense to ship than the larger VHS tapes. A new company, Netflix, sprung up quickly and soon overtook Blockbuster with their mail-only DVD movie rental. People found it easier, quicker, and the same price as renting from a brick-and-mortar store. Netflix also eliminated the testy household debates of who should drive back the rented movie on a rainy Sunday night. Netflix also implemented AI programs to predict what movies individual customers might enjoy most, based on previous rentals and ratings.

Travel Agents

The travel industry relied on informed agents who could book travel for customers, meeting their individual needs. Their experience, training, and participation in travel conferences helped prepare them for the occupation. The advent of personal computers and travel websites did make their job easier, but it also led to a major disruption in the occupation. Many agencies have gone out of business as consumers found it just as easy to research and book their own travel via online websites, at generally a lower cost.

User UltimoTG
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