This complexity can be attributed to four primary causes which are directly impressed on global marketing procedures.
1.THE TECHNOLOGICAL REVOLUTION:-
We need only look around the home and workplace to witness the fantastic changes wrought by the technological revolution of the past 20 to 25 years.We have walked on the moon and returned. Time and space have dwarfed.Transportation, communications,agriculture and manufacturing are among the many industries undergoing vast changes in products,techniques,output and productivity.The "technological revolution" is not a continuation of the Industrial Revolution ,it is a vast and fundamental change in its own right,as advanced mechanization and automation techniques are adopted and improved across a broad range of industries.Thus the technological revolution will require a managerial revolution.
2.RESEARCH AND DEVELOPMENT:-
The breathtaking rate of the technological change racing through all types of industry is due in large part to increasing expenditures for research and development.Despite the fact that relatively few firms engage in research and development and that these concentrate in a few areas,the impact of these expenditures is felt by all.Not only are products and supporting operations becoming more complex but the life cycle of products is being shortened.
3.PRODUCT CHANGES:-
Technological advances resulting partly from research and development,partly from growing customer sophistication,have resulted in the third cause of complexity-product changes. Whereas the manager of the past could depend upon a high percentage of his or her product ideas becoming marketable,today's manager must deal with an enormously high product mortality rate.Today's automobile manufacturer must offer more than a thousand combinations of model, color and power selections.Today the head start of many chemical fabrics is measured in months. It is a point of pride with many companies that over half their income today is derived from products that did not exist 5 to 10 years ago.
4.THE INFORMATION EXPLOSION:-
Finally,the information explosion has profound impacts upon the complexity of management and organizations.As a decision maker,the manager is essentially a processor of information. The modern manager knows that the ability to obtain,store,process,retrieve and display the right information for the right decision is vital.This is after all the basic reason for an information system--better decisions.
Conclusion:-
The technological revolution and its impact on the firm's products or services the manager must keep abreast of selected information and organize it for decision making.
We need only look around the home and workplace to witness the fantastic changes wrought by the technological revolution of the past 20 to 25 years.We have walked on the moon and returned. Time and space have dwarfed.Transportation, communications,agriculture and manufacturing are among the many industries undergoing vast changes in products,techniques,output and productivity.The "technological revolution" is not a continuation of the Industrial Revolution ,it is a vast and fundamental change in its own right,as advanced mechanization and automation techniques are adopted and improved across a broad range of industries.Thus the technological revolution will require a managerial revolution.
2.RESEARCH AND DEVELOPMENT:-
The breathtaking rate of the technological change racing through all types of industry is due in large part to increasing expenditures for research and development.Despite the fact that relatively few firms engage in research and development and that these concentrate in a few areas,the impact of these expenditures is felt by all.Not only are products and supporting operations becoming more complex but the life cycle of products is being shortened.
3.PRODUCT CHANGES:-
Technological advances resulting partly from research and development,partly from growing customer sophistication,have resulted in the third cause of complexity-product changes. Whereas the manager of the past could depend upon a high percentage of his or her product ideas becoming marketable,today's manager must deal with an enormously high product mortality rate.Today's automobile manufacturer must offer more than a thousand combinations of model, color and power selections.Today the head start of many chemical fabrics is measured in months. It is a point of pride with many companies that over half their income today is derived from products that did not exist 5 to 10 years ago.
4.THE INFORMATION EXPLOSION:-
Finally,the information explosion has profound impacts upon the complexity of management and organizations.As a decision maker,the manager is essentially a processor of information. The modern manager knows that the ability to obtain,store,process,retrieve and display the right information for the right decision is vital.This is after all the basic reason for an information system--better decisions.
Conclusion:-
The technological revolution and its impact on the firm's products or services the manager must keep abreast of selected information and organize it for decision making.
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