Passage Four

　　Questions 36 to 40 are based on the following passage.

　　In many ways, today’s business environment has changed qualitatively since the late 1980s. The end of the Cold War radically altered the very nature of the world’s politics and economics. In just a few short years, globalization has started a variety of trends with profound consequences: the opening of markets, true global competition, widespread deregulation (解除政府對…的控制) of industry, and an abundance of accessible capital. We have experienced both the benefits and risks of a truly global economy, with both Wall Street and Main Street (平民百姓) feeling the pains of economic disorder half a world away.

　　At the same time, we have fully entered the Information Age, Starting breakthroughs in information technology have irreversibly altered the ability to conduct business unconstrained by the traditional limitations of time or space. Today, it’s almost impossible to imagine a world without intranets, e-mail, and portable computers. With stunning speed, the Internet is profoundly changing the way we work, shop, do business, and communicate.

　　As a consequence, we have truly entered the Post-Industrial economy. We are rapidly shifting from an economy based on manufacturing and commodities to one that places the greatest value on information, services, support, and distribution. That shift, in turn, place an unprecedented premium on “knowledge workers,” a new class of wealthy, educated, and mobile people who view themselves as free agents in a seller’s market.

　　Beyond the realm of information technology, the accelerated pace of technological change in virtually every industry has created entirely new business, wiped out others, and produced a Pervasive (廣泛的) demand for continuous innovation. New product, process, and distribution technologies provide powerful levers for creating competitive value. More companies are learning the importance of destructive technologies—innovations that hold the potential to make a product line, or even an entire business segment, virtually outdated.

　　Another major trend has been the fragmentation of consumer and business markets. There’s a growing appreciation that superficially similar groups of customers may have very different preferences in terms of what they want to buy and how they want to buy it. Now, new technology makes it easier, faster, and cheaper to identify and serve targeted micro-markets in ways that were physically impossible or prohibitively expensive in the past. Moreover, the trend feeds on itself, a business’s ability to serve sub-markets fuels customers’ appetites for more and more specialized offerings.