Discuss how technology affects industry structure and competition

In the era of the new technology, every business and organization sector is believed in the use of technology for the growth of the business. Those products that have a short time for the production of its products can be avail more competitive advantage in the entire market. The technology is the best source that can be easily used to achieve the competitive advantage of the products. Organization which are producing its products fastly these can easily avail the efficiency in the markets. The efficiency of the organization can be improved with the use of new and innovative technology. In this robotic world, everyone loves to spend his life with the full of facilitation. The production of the manufacturing industry can be easily improved and fast with the use of the latest technology. Such as due to the invention of the computer makes the life of the organizational work quicker.  The chance of the error has been reduced by using technology in the industrial sectors (Cusumano, 2015).

When does diversification create value? Give examples from the domestic or foreign market

              Diversification is referred as the one the major trends in the topic of the business of the new and current world due to the variances in the culture of the employees of the organization who are engaged in working at one spot. These employees belong to the different culture according to the race, gender, background and age the can create diversity in that organization. Diversity is also considered as the cause of the waste and problem meanwhile according to the perspectives of the few one researchers’ diversity is the good thing that is the source of creating peace in the organization by explaining the rights of the people. It plays vital for the growth of the business, such as if the management of the organization is established with the employees of the different background of the culture. It means this organization can produce mulita tasking and different ideas with good perspectives (Kuppuswamy, 2015).