Question

Explain how technical progress can disrupt oligopolistic competition.

Answer 1

The main factor which onset diruption of oligopolistic competition is adapting with the technical progress.But generaly the huge companies which are the creamy layers show unwilligness to go with this progress.The key indication that firms could be disrupted is the dominance by some economic equations.The reason behind the unwilligness of adopting new trends is that to preserve the past instead of innovation for future.If newtechnologies are adopted some times those big companies collapse.But startups have their capacity to work quickly and bringing up innovation for future.Huge companies might be having complex system so that keep them backward to use new technologies.So inorder to lightenup the progress of world with utilisation of technologies it would be better spend money on reearches .while doing the research keep in mind to focus on what really needed, who all are on the main stream ,what new ideas are to be implemented to overwrite the past.for the what you need is the confidence to plan and execute and ofcourse to implement.