How is Technology Changing the Face of Business Today?
The traditional retail model has focused on finding high-margin, high-volume products or services because limited space means reduced space inventory. For example, organizations such as Walmart select the biggest hits from the broadest genres, called the “short head.” The short head means Walmart will only carry a select mix of country, pop, and rock that is calculated to provide the greatest cost/benefit. The business model of Amazon is different. Amazon provides the short head but also provides the “long tail” of more than 100,000 different audio selections. The competition for customers between the Walmart and Amazon marketplace is profoundly changing the face of retail business today.
Using your company or a real-world example from your research, respond to the following:
- Describe how technology is changing the face of businesses today.
- Describe the most critical business processes that utilize information systems in your selected company.
- Explain how IT makes the company’s business processes faster, cheaper, more accurate, and customer-savvy than that of competitors.
- Cite at least three sources found in your online library research.
Give reasons and examples from your research to support your responses.
Write 3 pages paper in Word format. Be sure to use and cite the module readings. Apply APA standards to citation of sources.