Emerging Technologies and Common Industry Concepts

Concepts of Emerging Markets PowerPoint Presentation

This PowerPoint presentation covers key concepts of emerging markets. It focuses on:

  • Key concepts of emerging technologies, highlighting their use and availability for emerging and developed markets.
  • and common industry concepts including: institutional voids, business groups, technological capabilities, changing income distribution, and bottom of the pyramid. Please be sure that the correlation between concepts and various markets is appropriate.

Definition

Emerging technologies refer to the science-based inventions that have the potential to either transform an already existing industry or to build a new one (Srinivasan, 2008). Experts have also defined emerging technologies as technologies that significantly change the social and business environments, which are currently being developed or those that will be developed in the near future, usually in five years time.

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The Power Emerging Economies

Emerging markets are increasingly becoming a key aspect of the modern business world. From 2008 to 2013, reports show that emerging markets were responsible for about 80% of the recorded global economic growth. Currently, emerging markets maintain their dominance in ownership of natural resources more specifically mineral oils, fertile land and oil. Further than that, more than 80% global foreign exchange reserves are under these markets.

Successful economy firms, like Arcelor, Volvo and Land Rover, have managed to achieve success being driven by the emerging markets investments. Successful firms, such as Nestlé and McDonalds, are growing into empires whose future progress and survival is dependant on emerging markets investors. Emerging markets have a very significant share of the global leading companies. Such companies include those in Smartphones, baked products, solar energy, oil and even gas. Telecommunication gadgets, computers, refrigerators, commercial ports and airlines are also emerging market related to and the happen to be leading industries in the world.

Characteristics of Emerging Technologies

Comparing the current emerging technology with traditional technological changes would yield major differences that can be grouped into three respects. Current technologies are laboratory incepted unlike the traditional ones which were based on basic or pure scientific research. Considering the fact that the current ones are laboratory based it is expected that they require hefty expenditure for research.

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Their complexity requirements for them to gain success requires them to be based upon research from diversified specialist fields all the way from research to production and even their push in the market to achieve that success. These current technologies are generic. These means the final products will have plenty of functions usable and others potentially usable. The applications are also many as compared to the earlier technological capabilities. They are generic solutions in search for issues that need attention (Jamison & Hård, 2003). They have also been referred to as platform technologies (Department of Innovation, Industry, Science and Research, 2011). Finally, these technologies are supply driven rather than demand driven (Jamison & Hård, 2003) unlike the traditional waves of technology change.

Concepts of Emerging Technologies

Uncertainty

There are various forms of uncertainties associated with emerging technology which show unpredictability in terms of value and outcome. These include the standards and maturity specifications, prices, models of business as well as uncertainties in adoption rates. Continuity in time turns ET to increased maturity and diffusion, adopters increment and drops in prices. There is also the rise in concerns ethically and socially as the ET gets adopted in new applications.

ET costs

ET cost is high something that is occasioned by the high cost of owning the technology as well as that of moving from the traditional to the Emerging Technology.

Unobvious ET impact

There is neither prediction nor certainty of the impact of ET. Ethical an social effects from ET use are not known or seen before its application.

ET availability

Availability of ET is limited to the inventing or creating country. There isn’t complete research and investigation of ETs The technology is never given proper academic and scientific research as technical reports and white papers are the only available materials on Ets and they are usually from the manufacturer.

ET network effect

The value of these technology is directly proportional to the users explaining the value gain with the increase in number of users.

Definitions and descriptions of common industry concepts

Institutional voids

This is the inexistence of intermediaries such as credit card systems and market research firms to bridge of create an efficient connection between buyers and users. This creates complex challenges for firms venturing in emerging markets. When a firm learns how to cope with these obstacles in specific markets they are on the road to success.

Business groups

A business group is a set of legally independent firms functioning under a common collection of informal and formal ties or rules that give direction on how to take action. Weak investor protection, enforcement of contracts, disclosure of information and communication are contributors to costly financial transactions especially for emerging investors. Business groups come to the rescue by being internal financial market where they act as capital source channels for affiliated firms during times of scarce or uncertain external financing (Journal of Corporate Finance, 2013).

Technological Capabilities

This is the capacity of the direct producers and decision makers to understand the components of technology in the market, evaluate its value and choose the appropriate or needed technology by a firm, maker use of it, adapt or enhance it and develop own technology.

Changing income distribution:

Change Income distribution is a statistical concept that arises from decisions made by people concerning work, investment and saving as they interact via markets and the effect the tax systems have on them.

Bottom of the pyramid

This is a concept that groups the large segment of the world made up of the poor citizens making an invisible or un-served market occurring from existence of barriers that keep them away from realizing their potential and capabilities. The Bottom of the pyramid is a very large market and a firm that takes measures to invest and serve this section of the population as an emerging market is guaranteed of success.

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