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Introduction to the Theories of Technological Development

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Added on  2020-06-04

Introduction to the Theories of Technological Development

   Added on 2020-06-04

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Introduction to the Theories of Technological Development_1
Table of ContentsINTRODUCTION...........................................................................................................................1Theories of technological development......................................................................................1Technological development and tourism....................................................................................2key concepts................................................................................................................................2Changing nature of tourism industry...........................................................................................3Competitiveness in the industry..................................................................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
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INTRODUCTIONIn the modern business of travel and tourism many contemporary issues exist. There arevarious types of technological development that are taking place in this industry (Buhalis andDarcy, 2011). Taking use of these makes the business process easier. In this study I havereflected on the ways technological development has changed the tourism industry and alsoadvantages and disadvantages associated with it. I have checked the possible technologies thatare felicitating this industry. Technological developmentsThere are many technological developments that is experienced in this industry which hasresulted in handling more number of persons at the same time. One of the basic changes thathave been made is in the information and communication technology (Granados and et. al.,2011). This technology helps in making internal and external communications better which isessential for the bringing smoothness in the work. I have studied that the technology such asmanagement information system has helped company in managing its business in many parts ofthe world. This is because of the fact that the information that is generated at many places if theworld can be stored centrally and can be accessed from any parts of the world through the use ofmodern gadgets. I can say ICT has transformed the way of doing business as companies areshifting towards digital marketing along with the traditional marketing strategies. One singleclick off the users to their online sites they can sell advertise thousands of tour packagesavailable to them. It has not only empowered the customers but also gave power in the hands ofusers to select from the thousands of options available to them. Costumed travel packages arealso available to them according to their choice. Theories of technological developmentThere are several ways in which this can be understand one of the best possible way that Ifound was porters five forces. Since in the tourism industry the external environment is dynamicand up to a large extent it is affected by these factors. There is large amount of competition thatis faced by the companies in this industry while operating in any market (Molz, 2012). Due tothis throat cutting competitiveness one of the most important pattern change was noticed inpricing strategies. They have been on the lower sides which has reduced the company's profitmargins. Threat of substitute is on the lower side as the use of technology has empowered the1
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