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 â€œshort head.â€ 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 â€œlong tailâ€ 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 companyâ€™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.