Technological change is the biggest factor in shaping the radio industry because it provides the innovations for the industry to be modeled around.
Technological change was the initial force that set the radio industry into motion. Without the architecture of technological change, the radio industry would never have been built. Technological change begins with an invention created by an isolated group or person. If this invention can create an industry or improve an already existing one, it has a chance of spreading to a large amount of consumers over time.
From Marconi's invention of the radio telegraph to Sarnoff's concept of the household music box to today's satellite radio, advancements in technology continue to redefine the radio business. New and useful inventions in radio have a tendency to become integrated into the industry. Often times, the original inventor does not see profits or their invention may be popularized after their death. Such an example of the latter is Edwin Armstrong's invention of FM technology.
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