Question

Find an example of an industry that has undergone a technological paradigm shift in recent years. What happened to the established companies as that paradigm shift unfolded? This module requires you to analyze the industry environment in which your company is based and determine if it is vulnerable to a technological paradigm shift. With the information you have at your disposal answer the following questions: What is the dominant product technology used in the industry in which your company us based? Are technical standards important in your industry? If so what are they? What are the attributes of the majority if customers purchasing the product of your company? What does this tell you about the strategic issues that the company is likely to face in the future? Did the dominant technology in your industry diffuse Rapidly or slowly? What drove the speed of diffusion?

Answer 1

Paytm is said to be the biggest example which has undergone in a tremendous technological paradigm shift in recent 4 to 5 years. When paytm unfolded the e-payment upi system (Wallet based digital product) many established companies such as , Freecharge, Mobikwik, Paisa pay, Oxy wallet gone in minimum profits, and some went on the loss. But the question arises, what exactly happened, Paytm involved technical marketing into it, and due to this type of paradigm shift, it actually attracted millions of users towards its product due to which other companies, were not in good condition.

My company Iaptris Technology: Information Technology Industry

• 1. My company is a service based and product based company, i.e. provides a website , application and digital marketing services as well as sell products related to ERP i.e enterprise resource planning, CRM (customer relationship management )products.

• 2. Technical standards are very much important in order to build the trust among clients which are need of service. If we are unable to meet technical standards we won't stand in this competitive market where parallel technological paradigm shift takes place.

International Organization for Standardization (ISO), International Electrotechnical Commission (IEC), International Code Council & Information Security Management Systems( ISMS) are few technical Standards.

• 3. Early Majority or customers which provide innovative ideas to get innovative products are the majority of customers purchasing the product or retrieving the services from our company.

Mostly when bulk customers arise and provide ideas they always need quality but due to the overburden of customers and delivery timeline issue, might company face quality and security issues in future which has to be overcome as soon as possible.

• 4. Yes, this dominant technology is spreading rapidly all over the world. Due to increase in demand, this dominant technology is increasing rapidly and also a lot of people are having interest in becoming entrepreneur, which leads to development of product and overuse of technology .