Running head: WILL BURY'S
Will Bury's
University of Phoenix
Economics
ECO 561
Professor Daniel Puente
October 16, 2008
Will Bury's
How technology influences how the business is run. How technology influences how the business is run. If one can manage these components of the business favorably, then the business can perform healthier.
Will Bury’s is an inventor that has developed a technology that allows the digitally copying of hardcopy materials. Will’s technology gives the audio version of hardcopy materials the sound of being read by a real voice even though the process is done by machine. Will’s problem though is what to charge for this technology and what kinds of revenue will this produce.
Before Will can look at revenue and talk about the price for which he is going to sell his product at he must first determine his cost of producing the product. The reason for this is that if his cost is higher than his selling price of the product then the revenue generated will not cover the operational cost of running the business. Not generating a profit for a company is the fastest way for a company to fail. A company can only exist so long on the initial investment put into the company. So therefore, Will needs to determine what is the total cost of digitally producing a page of a book. It does not matter what the size of the book is what matters is how much it cost to produce that book in digital form.
From this point the next step is to determine where the demand for the audio book is going to come from? The educational field for blind students for instance. Outside sales persons where a company would give audio material for sales people to listen to as they ...