Question

Please explain the difference between traditional and high-tech businesses.

Please explain the difference between traditional and high-tech businesses.

Homework Answers

Answer #1
  • Traditional companies do not utilize the internet properly while high tech companies properly utilize the internet in terms of customer relationship, customer engagement, promotions etc.
  • High tech business invests in technology to lower their cost, waste and increase the efficiency but traditional companies consider it as a cost to company. They do not expand their market and traditionally offer their products to limited market only.
  • High tech companies always search for a new market because they have good offerings, lower cost but traditional companies are happy with their current market.
  • High tech companies has a collaboration with larger companies and this leads to them being more efficient than traditional companies
  • High-tech companies gets prestige because customers prefer them to know about the current happenings of the companies while traditional companies do not get such attention.
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