The Effects of Technology on the Accounting Profession The boom of the computer age has completely changed accounting information systems by the way that the age of the calculator and pencil has ended. In the past, an accountant had to crunch numbers but today they primarily use computer programs to do the bulk of the work. With the advancement of accounting technology, the accountant and the accounting profession will have to strive to keep pace the modern tools ever changing technologies. Although the changes may take time to put into effect for larger corporations the benefit of faster reporting and an increase in productivity will more than pay for time it takes to change to the new systems. There are numerous companies that have and will continue to compete with one another in developing accounting software that have permanently changed the face of accounting and the way an accountant attacks his or her responsibilities to advance their careers.
The equipment has changed with all the technological improvements and advancements. The quality of some of the printers in the past was not adequate for many customers who required high quality output. This is why most printers produced collateral the old fashioned way because it was the only way to get the quality the customers demanded but at a high cost. With the newest inks and consumables available today the quality coming out of a store bought printer is extremely acceptable to most customers today. This has dramatically changed the way we produce photographs, printed pages, books and other printed collateral.
Paintings and antiques are often very expensive and require a significant amount of cushioning and foam to provide the best protection. • Shipping companies - Various shipping companies such as UPS, FedEx or the U.S. Postal Service would be great customers to target for Sealed Air Corporation. Sealed Air is known for providing packaging equipment and the companies aforementioned could benefit by increase customer's satisfaction by providing various packaging solutions. • Moving companies - Many of us
1. Bargaining Power of Buyers In Porter’s Five Forces Model, the bargaining power of buyers (customers) reduces firms’ profits through price reduction by forcing companies to compete, demanding higher quality, more services and lower prices. With tremendous competition in garment industry, Benetton is facing extremely high buying power from its highly informed and price sensitive customers that can easily switch for competitors’ brands. The following characteristics of Benetton’s customers increase their buyer strength and, thus, influence company’s ability to achieve profitability: * Buyers are represented by an enormous size of consumers; * Consumers are price sensitive; * Consumers are well educated about the products; * Substitutes are available; * Buyers’ switching costs are very low; * Consumer purchases comprise very large portion of Benetton’s sales. The fact that Benetton has created a unique image associated to its brand (mainly through unconventional advertising that created specific buyer profile for open-minded people) and created lines of differentiated products, has allowed the company to become competitive in its industry.
This tends to strengthen buyer power in the airlines market. However, airlines easily defend themselves against this by highlighting the key services they offer that surpasses the service of the lower priced competitor. Overall, buyer power in the global airline industry is moderate. Threat of Rivalry The competitive landscape has several large companies, such as, Air France and British Airways, alongside smaller competitors. Rivalry in the industry has greatly increased due to the increase of low-cost carriers in the market, as these companies compete intensely on
The prices of these technology advances have increased from a couple of hundred thousands of dollars to multi-million dollar pieces of equipments. In this rough economy, it is challenging to keep up with these types of technologies. It puts a financial strain on the healthcare institution, but many times they have proved to be worth the cost. So I believe as healthcare administrators, we must find a balance for the need, use, and maintenance of technology used in the healthcare
Cost advantage also contributes to success in what could be considered a mature industry. The overhead for Ebay is extremely low, Amazon on the other hand could show tremendous profit if it did not reinvest in infrastructure (need to discuss this point w/ Derron, he seemed to think differently here) Concept #3 – Dynamic capabilities (Ch 8 pg 227) the e-commerce industry provides the ability to “integrate, build, and reconfigure internal and external competences to address rapidly changing environments.” The fact that Ebay and Amazon primarily do not have brick and mortar locations provide flexibility to adapt to reconfigure its resources. Ebay and Amazon were essentially brought about by the “need” concept for e-commerce across the globe. 2. What are the key drivers of profitability in eBay’s business model?
However print media, like many things in life is not perfect and has some disadvantages. Cost for print media is highly expensive, considering the vehicle that is choosen, and shelf life is very limited especially with newspapers, which lose value the next day. Although print media is an excellent avenue to go about expanding your horizons, everything, including the bad must be taken into consideration. The most important thing advertisers look for or want is the ability to target a specific audience. The easiest methods to do this is putting ads in magazines and newspapers.
New entrants face a steadily increasing minimum efficient scale of production, meaning that more and more of a niche is required to achieve any economies of scale. Rivalry among established companies: Rivalry is high evidenced by the small number of competitors. Demand conditions are volatile based on economic and global issues. Bargaining power of buyers: Where large corporations and distributors can force price concessions, this can be considered a threat in the steel industry. Consumers themselves have a high level of bargaining power as they can be particularly pricesensitive in the volatile industry.
Since these contracts are highly profitable and tend to run for long periods of time, Infosys is missing out on lucrative business. Added to this is the fact that its competitors do well in terms of securing the same Federal business (and one should also take into account that many of its competitors are domiciled in the US and there could be political pressure on the US Government to award contracts to domestic organizations). * It is sometimes argued that it is weaker when it comes to high-end management consultancy, since it tends to work at the level of operational value creation. Competitors such as IBM and Accenture tend to dominate this space. Opportunities * At a time of recession in the global economy, it may appear that some companies will reduce take up of services that offers.