the dynamic nature of business Flashcards
1
Q
changing technology
A
as new technology develops, new business opportunities arise/innovation becomes accessible.
products can:
- become safer/cheaper
- make products/services faster
- make products compact (smaller)
2
Q
changing consumer needs
A
society is constantly changing (due to state of economy, fashion trends, national demographics, changes in lifestyle + changes in tech)
3
Q
obsolescene (obsolete)
A
out of date/no longer in use
