Question

Describe the basics of traditional business and high-tech business.

Answer 1

Traditional business is a local store offers local services or products to local customer; customers visit the store physically to purchase the products. In traditional business infrastructure cost is very high, cost of hiring staffs, accounts and management. For traditional business location is very important aspect, store should be located near to customer easily visit. Traditional business runs morning to evening from Monday to Saturday.

High tech business growing fast and earns huge revenue through rapidly changing technology. They present globally, and runs 24x7. For example IBM, Apple, Microsoft etc.