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What Are Technological Forces? Explain Their Implications for Managers and Organizations

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Essay

What are technological forces? Explain their implications for managers and organizations. Then provide an example of how technological forces changed management in one industry. Your example can be based on your own experience or on something you have read or seen in news media.


Definitions:

Interest Paid

This is the amount of money paid by a borrower to a lender in return for the use of borrowed money, usually expressed as a percentage of the principal.

Effective Rate

The actual interest rate an investor earns or pays on an investment or loan, taking into account the effect of compounding.

Nominal Rate

Nominal Rate is the interest rate before adjustments for inflation, reflecting the actual monetary cost of borrowing.

Opportunity Cost

Missing out on possible advantages from other choices when a specific choice is made.

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