Explain the technology life cycle.
What will be an ideal response?
Technological innovations typically follow a predictable pattern called the technology life cycle. Early progress can be slow as competitors continually experiment with product design and operational characteristics to meet consumer needs. This stage is where the rate of product innovation tends to be highest. Once early problems are resolved and a dominant design emerges, improvements come more from process innovations to refine the technology. At this point managers gain advantage by finding process efficiencies and lower cost. Eventually the new technology begins to reach the upper limits of both its performance capabilities and the spread of its use. Development slows and becomes increasingly costly, and the market becomes saturated (there are few new customers). The technology can remain in this mature stage for some time or can be replaced quickly by another technology offering superior performance or economic advantage. Life cycles can take decades or even centuries, as with iron- and steel-making technologies. Significant innovations, often entirely new technologies, are followed by many small, incremental innovations. Ongoing development of a technology increases the benefits it provides, makes it easier to use, and generates new applications. In the process, the technology spreads to new adopters.
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Which of the following advantages is the greatest advantage of observation methods?
A) If the observed phenomenon occurs frequently or is of short duration, observational methods may be cheaper and faster than survey methods. B) The data obtained are reliable because the responses are limited to the alternatives stated. C) Observational methods permit measurement of actual behavior rather than reports of intended or preferred behavior. D) Coding, analysis, and interpretation of data are relatively simple.
The mathematical symbols "?" and "p" represent a ________ for the population and the sampling distribution respectively
A) proportion B) standard deviation C) standard error of the mean D) variance
What speaker control tips should you follow when practicing for a presentation?
Which of the following statements is true?
A) Inventories allow manufacturers to operate different work centers at the same output. B) Inventories allow manufacturing to reduce production runs, reducing unit cost. C) Inventories allow manufacturing to level out production and to satisfy peak demand. D) All of the above are true. E) None of the above is true.