Fundamental Question

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Fundamental Question

Category: Article Review

Subcategory: Economics

Level: College

Pages: 1

Words: 275

Brynjolfsson, Erik, and Michael Schrage. “The New, Faster Face of Innovation.” The Wall Street Journal. 17 August 2009 11, 2017
Promoting Progress through Adoption of New Technology
In the article, Brynjolfsson and Schrage address how new technology is renovating the concept of innovation in the marketplace encouraging adoption of the new initiatives by firms. It explores how advanced technology is making innovations in companies much cheaper and efficient than it was previously. The article points out that digital technologies are enabling businesses to get a better idea of consumer behaviors and wants subsequently creating marketing efforts that serve the purpose efficiently CITATION Bry09 l 1033 (Brynjolfsson and Schrage). The new face of innovation within companies has boosted productivity, especially in web-based enterprises as change becomes easier, faster, and cheaper CITATION Bry09 l 1033 (Brynjolfsson and Schrage). It states that the competitive markets and the low price of failure have impacted retailers and more industries to try these new systems for experiments, eventually benefiting the consumers too. The new digital systems that are designed to suit various industries in the marketplace are gradually spreading due to economic pressure for companies to adopt the new strategies to increase their efficiency too. The article further explores how the digita…

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