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Risk Factors and Challenges in the Technology Industry - Essay Example

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Risk Factors and Challenges in the Technology Industry

Moreover, business enterprises are very concerned about "outsider" company having access to the sensitive commercial information.
Escalating complexity of the products and solutions: It is hard to test all the scenarios for the applications involving extremely lengthy and complex code, which sometimes leads to "bugs" and malfunctioning.
Growth of in-house IT: Many non-computer firms joined the industry by adding divisions or by acquiring computer services companies. Banks, publishers, airlines, and telecommunications companies were among those whose information technology divisions were involved in this industry (SIC Computer Related Services n/p).
Dependability on the readiness of the customers to engage in electronic interactions or networking: Value of network grows in line with the number of participants. If the market does not successfully adopt the new technology on a wide scale, it will not exist long.
The wave of year-2000-related new equipment purchases that took place at the end of the 1990s, as well as the availability of quality used equipment from bankrupt Internet companies in the early 2000s, had a negative impact on the corporate market for new electronic devices and computers. (Electronic Computers n/p)
From 1998 to 2000, reported IDC, ave...
2. Communications and Networking
Changes in the industry-related regulations: For example, adoption of the Telecommunications Reform Act of 1996 greatly influenced operations of the telecommunication industry players.
Standardization and adoption of new protocols.
Emergence of many competing formats, offering lower costs and improved services to the customers: for example emergence of PCS systems as strong competition to wireless phone systems.
Integration of different services (e.g. mobile phones with PDA -functions, text and multimedia messages services, WAP-internet access).
Transformation of the industry structure: mergers and acquisitions in the industry (for example, recently approved acquisition of Skype VoIP-operator by the EBay Corporation).
Reaching saturation in the developed-countries markets and challenges of global expansion.
Dependability on the readiness of the customers to engage in electronic interactions or networking: Value of network grows in line with the number of participants. If the market does not successfully adopt the new technology on a wide scale, it will not exist long.

3. Electronics and Computer Hardware:
Temporary slowdown of early 2000s in the technology spending in both corporate and private sectors caused by economic conditions and changes in the consumer behavior:
The wave of year-2000-related new equipment purchases that took place at the end of the 1990s, as well as the availability of quality used equipment from bankrupt Internet companies in the early 2000s, had a negative impact on the corporate market for new electronic devices and computers. (Electronic Computers n/p)
High R&D costs and consequently high break-even volumes.
Increasing competition of low-cost Asian electronic ...Show more

Summary

Decline in customers' spending on IT and decreasing budgets : After spending more than $1.2 trillion in the US alone on information technology products and services during the late 1990s, companies are slashing their IT budgets (Mattern 4).
Pressuring competition and increasing sophistication of customers' needs: More customized solutions and additional services, including IT consulting and technical support are required by the market…
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Risk Factors and Challenges in the Technology Industry essay example
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