Question

Large investments in old technology and incompatiblility of new and old technologies with each other are the main reasons companies and consumers are reluctant to switch to a different technology during a(n)__________.

Answer 1

Answer:

Design competition

Explanation:

Competition is said to occur when there is rivalry between business organisations that offers the same product and services. This results in struggle for profit, market share growth as well as revenue achievement.

Design competition is employed by the organization who wants to have a cutting edge advantage over rival companies that produces the same product. This dine by changing production line, technology, product size and quality e.t.c.

However, various barriers hinders Design competition. For instance, large investment in old technology will make decisions to take up new technology a hard one to take.