19-3 Effect of Technological Change o Many products undergo constant change and improvement Electronic products provide a great example This change can be a threat to firms that are slow to improve but provides benefits to firms that adjust o Technological change is both a threat and an opportunity a Smith Corona typewriter company missed out on word processing and is now out of business a Microsoft was quick to embrace graphic user interface programs and now is dominant in the software business " win/MeGraw-HHill CThe McGraw-Hill Companies, Inc, 200019-3 Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Effect of Technological Change ⚫ Many products undergo constant change and improvement. ◆Electronic products provide a great example. ◼ This change can be a threat to firms that are slow to improve but provides benefits to firms that adjust. ◆Technological change is both a threat and an opportunity. ◼ Smith Corona typewriter company missed out on word processing and is now out of business. ◼ Microsoft was quick to embrace graphic user interface programs and now is dominant in the software business