The Internet may not make companies obsolete, but these companies

| November 24, 2016

Part 1- Just Simple Answers

1. The Internet may not make companies obsolete, but these companies will have to change their business models in order to stay competitive. Do you agree with this statement? Why or why not?

2. The Internet has changed the way we manage our employees. Explain one way how the internet has changed the way we manage people.

3. Social networking has opened the doors to people around the world and provides an enormous amount of content (both good and bad) to consumers and customers and to suppliers. How has social media changed the way companies interact with consumers and customers?

4. Assume the company where you work has a Facebook site. Is Facebook a viable business tool?

5. If you were responsible for coordinating the advertising on a company’s Facebook site, how would you balance the desire to become increasingly profitable with the need to protect the privacy of your users?

Part 2 The firm cannot be WalMart

Think of a firm that relates to your major program of study, where you currently work, or a firm that interests you. This firm can be in the private sector, a government entity, a military unit, or a public sector firm.

Provide some background information on the firm and provide an example of how this firm has instituted technological change. Describe this change. Determine the nature of the technological change, and explain how the change either increased outputs (positive technological change) or decreased outputs (negative technological change). How is the firm operating more efficiently or how has the firm increased production? What economic model might apply? In your opinion, what sort of technological change might take place in the future?

Part 3

Link to video

1. In the video, it is mentioned that Whirlpool provides three different types of appliances that vary in the amount of features that are offered. Discuss the product differentiation across these types. How could this affect production costs negatively? Positively?

2. Discuss how Whirlpool avoids diseconomies of scale. Why might the hourly employees on the manufacturing side come up with cost-saving ideas better than upper management who do not work on the manufacturing line? Define human capital.

3. What role does competition play in technological development?

4. What role does international trade play in technological development?

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