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CMN 140 Exam 2 - C MN 140 Exam 2 notes Drucker 1 E-commerce...

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CMN 140 Exam 2 notes Drucker 1. E-commerce fuels the impact of the information revolution. 2. E-commerce/Internet = explosive emergence of the Internet as the major worldwide distribution channel for goods, services, and for managerial and professional jobs. - Change economies, markets, industry structures, products, service flow - May be even GREATER n societies and politics, and on the way we see the world and ourselves in it 3. New industries that are emerging - Biotechnology - Fish farming - Few industries will come out of computer and information technology - Each will emerge from its own unique and unexpected technology [These predictions are based on assumptions that the Information Revolution will evolve as Industrial Revoltuion have evolved over the past 500 years. Second assumption would be that the Information revolution will be likely to be like the Industrial Revolution.] 4. The information Revolution has been just like the Industrial Revolution during its first fifty years. The Information Revolution is now at the point at which the Industrial Revolution was in the early 1820s. And the steam engine was to the first Industrial Revolution what the computer has been to Information Revolution-its trigger. 5. Moore’s Law asserts that the price of the Information Revolution’s basic element, the microchip, drops by 50 percent every eighteen months . 6. Social consequences of the earlier revolution - Gave rise to the factory and the “working class” - Created “entrepreneurs” - Explosive growth of the steam-engine-based textile industry revived SLAVERY
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- Created a huge demand for low-cost labor and made breeding slaves America’s most profitable industry for some decades - Family: The factory took workers and work out of the home and moved them into the workplace, leaving family members behind 7. How did the Industrial Revolution change products? - Mechanized the production of goods that had been in existence all along - Tremendously increased output - Decreased cost - Created both CONSUMERS and Consumer products - Uniform, with fewer defects 8. The unprecedented product of earlier revolution - The steamboat (have little impact) - The railroad 9. Mental geography - For the first time in history, human beings had true mobility -
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