Create two essay questions and associated answers. Wharton…
Create two essay questions and associated answers. Wharton Managing Emerging Technologies – . Need two pages answer with APA standards with appropriate References. Answer should be according to the text book Wharton Managing Emerging Technologies. No plagiarism and on time delivery. Purchase the answer to view it
Answer
Essay Question 1:
In what ways can technological innovations disrupt established industries? Illustrate your answer with examples from the Wharton Managing Emerging Technologies textbook.
Answer:
Technological innovations have the potential to significantly disrupt established industries in various ways. These disruptions can occur through the introduction of new products or services, changes in business models, and shifts in consumer behavior. The Wharton Managing Emerging Technologies textbook provides numerous examples of such disruptions.
One example of technological disruption highlighted in the textbook is the impact of e-commerce on the retail industry. With the rise of online marketplaces and increased consumer preference for online shopping, traditional brick-and-mortar retailers have experienced significant challenges. Companies like Amazon have transformed the retail landscape by offering a wide range of products at competitive prices, convenient shopping experiences, and fast delivery options. This has led to the closure of many physical retail stores and a shift in consumer behavior towards online shopping. It is clear that e-commerce has disrupted the retail industry by changing how products are sold and consumed.
Another example of disruption discussed in the textbook is the impact of digital music on the music industry. The emergence of digital technologies, such as mp3 files and streaming platforms like Spotify, has revolutionized the way music is consumed. This has disrupted the traditional model of selling albums and physical copies of music. The digitization of music has not only changed the distribution channels but also the business models employed by artists and record labels. The textbook highlights how the industry had to adapt and find new revenue streams, such as live performances and merchandise sales, to compensate for the decline in album sales. This disruption in the music industry illustrates the transformative power of technological innovations.
Furthermore, the textbook explores the disruption caused by Artificial Intelligence (AI) in various industries. The implementation of AI technologies can automate repetitive tasks, improve efficiency, and enable new capabilities, thereby challenging the traditional workforce and business operations. For instance, AI-powered chatbots have disrupted customer service by providing instant and personalized support to customers, reducing the need for human agents. In addition, autonomous vehicles are disrupting the transportation industry by eliminating the need for human drivers. These examples show how AI is reshaping industries and creating new opportunities and challenges.
Overall, the examples provided in the Wharton Managing Emerging Technologies textbook demonstrate that technological innovations can disrupt established industries in various ways. Whether through the introduction of new products or services, changes in business models, or shifts in consumer behavior, these disruptions pose both challenges and opportunities for organizations. Understanding and effectively managing these disruptions is crucial for businesses to thrive in an ever-changing technological landscape.