Managing Microprocessor Opportunities

Recent developments in micro‐electronics, in particular Large‐Scale Integration (LSI) and the microprocessor, have already begun to have an important impact on the consumer product market. The first applications of micro‐electronic devices in products, calculators and digital watches, virtually wiped out two long established industries almost overnight. While this gives some impression of the potential effect of micro‐electronics on individual industries, it does not explain what is really crucial—that microprocessors can be substituted for nearly all mechanical and electro‐mechanical devices often at a fraction of the cost. It is much more efficient to move electrons around than mechanical parts.