Read the summary and the most important questions on Business in Canada & Across the World: A Student's Guide

• 1 Technology & Industry

  This is a preview. There are 1 more flashcards available for chapter 1
  Show more cards here

• What is the second stage of a business industry which is also known to be the DOMINANT DESIGN and SHAKEOUT stage?

  The Growth Stage

• What is the third stage of a business industry which is known to be A CRITICAL TRANSITION in a business industry during its lifetime?

  The Maturity Stage

• What is the LAST STAGE of the business industry that includes Changes in Demographics and Consumer Needs?

  The Decline Stage

• List the four Technological Innovations given in industry and businesses that define its INNOVATIONS through continual technology advances?

  • Discontinuous
    
  • Continous
  • Component
  • Architectural Innovations

• List the three reasons as to why an industry would suffer from a declining stage at the end of the business lifecycle with coming change? Start with "Changes in..."

  • Changes in the demographics
    
  • Changes in consumer needs
  • Changes in technology

• List the four factors that would define a business industry when they reach the Maturity stage (A Critical Transition) in their lifetime.

  • Slow growth
    
  • Lots of advertising
  • Competition intensifies / Fierce Rivalry
  • Incremental improvements

• List the four factors that would define a business industry when they reach The Growth Stage (Dominant Design and Shakeout). Think of UberEats.

  • Dominant design established
    
  • Shakeout occurs
  • Products appeal to a wider market
  • Focus shift from innovation to sales and market.

• List 3 factors about a business industry when it first begins its industry phase as the Introductory Stage (Emergence and Creation Stage) as New Innovations emerge following innovations.

  • Small, entrepreneurial competitors
    
  • A high degree of Technological innovation
  • Quest for dominant design

• 2 Global Market

  This is a preview. There are 5 more flashcards available for chapter 2
  Show more cards here

• List all four Economic Areas that have to do with globalization and economic integration.One has to do with "All barriers to trade among members are removed" and think of freedom, another has to do with "Less freedom about interacting with non-members " as a union, the next one has to do with "Barriers among members are removed and a common trade policy exists with respect to non-members" as a market and the final one has to do with "Coordination of economic policies including high levels of integration" as a Union.

  • Free Trade Market
    
  • Custom Union
  • Common Market
  • Economic Union

• What does Trade Protection protect through import restrictions which include Tariffs and Importing Quotas?

  • Domestic Economies