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Essay text:
Our chosen innovation is the digital camera, or DigiCam; a relatively recent advancement in the camera/photography industry. Throughout this report we will use our knowledge of competition to analyse the impact this innovation has had on the industry, explore the nature of competition prior to the innovation of this invention, and examine and critically analyse the effects this innovation has had on the camera/photography industry.
In an information society where technology seems to be driving our society forward, it is essential for multinational corporations to spend vast sums of their supernormal profits on research and development, with the glimmer of hope that they will stumble upon the next significant innovation in their chosen industry...
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