Industry - Strategic Analysis Research Paper Example | Topics and Well Written Essays - 1750 words

Industry - Strategic Analysis - Research Paper Example Industry-Strategic Analysis This industry comprises of a number of establishments known as ‘Home Centers’ that are primarily engaged in retailing of products relevant to the repair and maintenance of homes. Such goods include lumbers, plumbing, electrical goods, hardware, tools, and lawn and garden supplies. Home centers also provide building materials and other consumer goods relevant with the repair and maintenance (census.gov). These goods are either purchased from domestic or international manufacturers of suppliers. Operators then retail these goods to the ultimate consumers through their stores (IBISWorld, 2006). Industry’s Dominant Economic Features This industry has a vast market size which is the dominant economic factor of the industry. Other economic factors are significantly affected by the market size in the industry. The annual sales of the industry are estimated at $135.4 billion. As the products offered by home centers are utilized by consumers in all the segments of the market, therefore the market size is extended to all the levels of the market. The business conducted in the industry is comparatively easy to operate therefore the industry is growing at a very fast pace. This scenario has initiated a stiff competition within the industry and major home centers are increasing at an unprecedented rate at the expense of smaller entities in the industry (Sinderman, 1997). The number of rivals within the industry is high. Since the goods produced by the industry are not dependent upon technology therefore the abrupt technological changes do not affect the operations of the industry to a significant extent. This allows the industry sufficient time to acclimatize with the changing trends. The products in the industry are mostly of a generic nature therefore there is not much differentiation between the products. The segments within the industry include specialized home stores that retail specialized goods only such as stores speci alized for plumbing, electronic goods etc. Such stores do not retail any other goods other than the specialized goods. Porter’s Five Forces Porter’s Five Forces analysis is conducted to determine whether an industry is attractive for entrepreneurs (Hitt, 2009). In order to analyze the home centers industry, the analysis is being conducted on Home Depot. Home Depot is an American retailer of home improvement products. Home Depot is the largest retailer of home repair and maintenance products in the US therefore it is one of the most important constituents of the industry (Form 10-K, 2010). Following is the Porter’s Five Forces analysis of Home Depot. Threat of Substitute Products Threat of substitute products outside the industry is low because there are no or less substitutes for the home repair and maintenance products. It was determined by the following facts. In case of plumbing, there is not other industry that produces such goods. Similarly, in case of good s like carpets, home decor goods, and other electronic goods for home maintenance, there are no substitute goods produced by any other industry. Therefore home depot has a low threat of substitute products. The main products produced by the company are tools, shelves, indoor and outdoor

Theoretical Perspective Dissertation Example | Topics and Well Written Essays - 750 words

Theoretical Perspective - Dissertation Example Christensen, a Harvard Business School professor. He perceived technologies as falling into two categories, namely sustaining and disruptive. Sustaining technology was viewed as small additional improvements to technology that already exists. Disruptive technology is generally lacking in refinement but given time to develop, they in time replace the technology that is currently prevailing. The implications for business are significant if their products fall within the scope of the existing technology, since the disruptive technology is not immediately manifest and there is a risk that they may be rendered obsolete and lose their competitiveness (Kuzma & Priest, 2010). Technology Acceptance Model The Technology Acceptance Model (TAM) is a theory that tries to describe the internal process undertaken by users in deciding to accept and use a new technology. Developed by Fred Davis in 1989, the TAM is currently gaining popularity among researchers particularly in the field of information systems (IS) development. Presently, not many lay people are aware of nanotechnology, and those who are regard it as too unfamiliar and are therefore suspicious of it. The diagram following shows how TAM perceives the technology acceptance process. In this model, ‘perceived usefulness’ is the extent to which a potential user believes that a particular technology would be advantageous to him or her, while ‘perceived ease of use’ is the extent to which a potential user believes that use of a particular system would be effortless or easy (Davis, 1989). Technology Acceptance Model http://en.wikipedia.org/wiki/File:Technology_Acceptance_Model.png Sociopolitical modernization and postmodernization Modernization and postmodernization refer to the process of social change. The concept of modernization views economic, social and political development to be linked in a coherent manner, and that all societies that undergo modernization tend to follow a consistent pat h. Researchers note that almost all societies that reach an advances state of development experience a shift from ‘modern’ goals of economic and physical security, to post-modern values that emphasize quality of life and self-expression. The development of nanotechnology, because of the enhancement of human lifestyle of which it is capable, will be viewed in terms of post-modernization (Ghazinoory & Ghazinouri, 2009). Diffusion of Innovation The diffusion of innovation theory is the model by which innovation is thought to be communicated through channels over time among the members of a social system. In this model, an innovation may be an idea, practice, or object which the social system views as new, and diffusion is the particular type of communication through which the message associated with the innovation is passed through the system. Diffusion of innovation is comprised of four elements, namely the innovation, communication channels, time, and the social system. The Diffusion of Innovation model is shown below (Rogers, 1997): Biomedical Ethics One of the most contentious theories that nanotechnology may expect to be entangled in is that of biomedical ethics or bioethics. The reason is that much of nanotechnology applications are in the sphere of medicine, where one of the more exciting prospects is the use of nanotechnology for the cure of cancer. Biomedical ethics concerns itself with the