France - Science and technology Photo by: Ludmila Galchenkova French inventors played a pivotal role in the development of photography and the internal combustion engine; to French ingenuity the world also owes the first mechanical adding machineparachuteelectric generatorrefrigeratorand neon lamp
Posted by Learning E Business Initiative Technological factors affecting businesses all over the world Remember the traditional office full of clutter? Surprisingly we are quite slow to the adoption of all things Digital. About time we closed the door to an ancient set-up and look towards evolving ways to succeed in business.
Technological factors affecting businesses all over the world demands a changing behaviour with regard to traditional marketing. The rapid development of technology requires quick reaction by businesses in order to survive in an emerging competitive environment and keep up with new trends and innovative services which other competitors might be offering.
These technological factors can include both products and processes and can present opportunities and threats but it is vital for competitive advantage and is a successful driver in globalisation.
Products can be marketed in new ways and processes present immense Value to the business.
Some of the following points should be considered: Some companies seriously invested in certain type of equipment only to see a more innovative and cost-effective technology emerge.
Other technological factors affecting businesses and their environment: It is recommended to inform employees in advance and keep them up to date encouraging feedback when making such change.
These changes should benefit the company and the consumers. Traditional models are changing and advantages can be achieved by investing in modern technology but just purchasing technology for the sake of having it is not enough, implementing a strategic plan is the key in order to succeed.
Businesses should take into account the rise in data breaching and various cyber-crime elements and must invest in effective ways of preventing or combating these factors. Imagine if an important process becomes unavailable suddenly or a system is hacked.
Businesses must have these contingency plans in place in order to protect their valuable assets. Mostly, technology is beneficial and businesses should try to counter the negatives in order to find the beneficial impact in its adoption.
It transforms the economy, schools, consumer habits, the very character of modern life. Investors pour money into it; parents urge their children to study it; communities vie to attract its factories; decorators adopt it as a style; politicians push it as a panacea.France is still a high roller when it comes to technology, they are constantly teaching and training new scientists which are working on a medley of technology from high speed rail to .
The technological factors relate to the application of new inventions and ideas such as R&D activity, automation, technology incentives and the rate of technological change. The PEST Analysis is a perfect tool for managers and policy makers; helping them in analyzing the forces that are driving their industry and how these factors will influence .
France scores above average in technology component, thanks to strong government support for research and development. France’s performance is weakened by its immigration record, with few immigrants entering France from poor countries and by.
In conclusion, technological factors are one of many external factors that can affect businesses, and are an integral part of PESTLE analysis. They can be defined as factors which relate to the presence and development of technology, on either a local or global scale.
The pace of technological change, particularly in the fields of information, communication, nano- and bio-technologies, is unprecedented. This provides opportunities to reduce humanity’s impact on the environment and reliance on non-renewable natural resources, while improving lifestyles, stimulating innovation and .
France Technological Factors Technological factors can lower barriers to entry, reduce minimum efficient production levels, and influence outsourcing decisions.
Some technological factors include: * R&D activity * automation * technology incentives * rate of technological change Environmental factors: environmental factors include the .