Creative destruction
Describe meaning of the term “creative destruction”? How does the emergence of MP3 (iPod) technology relate to this idea?
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Creative destruction refers to the procedure by which the creation of new products and production techniques destroys the market positions of firms committed to generating only existing products or by using outdated methods. The capability to download and store a great number of songs, and the superior quality of MP3 is causing a decline in the CD industry, just as CDs once replaced cassette tapes, which had beforehand replaced phonographs (records).
Describe how to measure the firm risk of any capital budgeting project. The firm risk of a capital budgeting project measures the effect of adding a new project to the present projects of the firm.
Describe the decision rule for accepting or rejecting proposed projects while using net present value? While using the net present value decision rule any project along with a net present value greater than or equal to zero would be acceptable.
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