Industries

In business we learned about industries, industries are economical activities concerning on the materials used and classifying businesses based on what they sell or what services do they provide. So this helped me further understand the Statement of Inquiry which is Understanding that entrepreneurs must innovate in order to remain competitive over time because industries can be created or changed based on time, for example 50 years ago, the smartphone industry wasn’t created until the 1990s when cellphones could do more then a normal cell phone. Like I said from the SOI, orientation in space and time can change industries or create new ones because of new technology invented which fills in new wants from the public. This helped me enrich the SOI because it would help me understand that time is a key factor for businesses and that when changing time can alter businesses and their identity. For example Apple changed its identity from Apple Computers to just Apple because they decided they should focus of MP3 players and the iTouch which was a huge success, this was because of new technology created that changed their company identity.

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