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BY MOHAMMED MAJEED-0244366156-MBA PGSM
Technology's Impact on Businesses
The impact of technology has been most evident on business within the last 20 years with the growth of the microchip and the adoption of personal computers, as well as the retooling of old systems and the development of new systems that rely on computer technology.
Globally, we are in the Age of Technology, a time that history will no record as a period of when businesses made giant strides in creating smart machines, smarter processes, and perhaps even smarter business people.
Technology in the OfficeMass adoption of the word processor and, later, the personal computer brought office productivity out of the dark ages. Gone were the days of using carbon paper and mimeograph machines to make a few duplicates. High-speed printers are capable of producing hundreds of pages of collated and stapled documents in 256 colors. Technology Out of the OfficeCell phones beam from satellites positioned in a geostationary orbit 22,300 miles above our heads, allowing sales professionals on the road to communicate with customers, the office, or home. Wireless internet lets businesspeople access their mailbox from a cell phone or manage their calendars. PDAs (personal data assistants) now keep contact numbers and appointment dates, and provide the latest updates on the Stock Market.Technology in Manufacturing
The impact of technology on business is especially evident in the manufacturing sector. There are few mass-produced products that are manufactured without the aid of computer automation. Computers integrated with processing machines in manufacturing companies have greatly increased the number of widgets a company can produce. Computer sensors can scan finished products and detect defects that might be missed by the human eye. Technology Expands MediaMedia outlets for business marketing have increased as both broadband and wireless Internet adoption has exploded among all consumer groups. The fear that multicultural groups were being left behind in a so-called digital divide was only recently refuted when an April 2009 study by Pew Internet and American Life revealed that minorities were using wireless devices like mobile phones to access the Internet rather than through broadband access. Technology in BiotechTechnology in the science sector has revolutionized biotech and pharmaceutical industries as they peer deeper into the cause of diseases like cancer and HIV. Patents for new drugs and additional indications for existing drugs have been a boon to industry and have positively affected people's health and life expectancy.Environmental Scanning & Monitoring- Techniques
SWOT (Strength-Weakness-Opportunity-Threat)Identification of threats and Opportunities in the environment (External) and strengths and Weaknesses of the firm (Internal) is the cornerstone of business policy formulation; it is these factors which determine the course of action to ensure the survival and growth of the firm.
PEST Analysis
A scan of the external macro-environment in which the firm operates can be expressed in terms of the following factors:
Political
Economic
Social
Technological
1.Political Factors:-
tax policy
employment laws
environmental regulations
trade restrictions and tariffs
political stability
2.Economic Factors:-
economic growth
interest rates
exchange rates
inflation rate
3.Social Factors:-
health awareness
population growth rate
age distribution
career attitudes
emphasis on safety
4.Technological Factors:-
R&D activity
rate of technological change
Porter's Approach to Industry Analysis:-
*A corporation is most concerned with the intensity of competition within its industry.
*The level of this intensity is determined by basic competitive forces.
*In scanning its industry, the corporation must assess the importance to its success of each of the six forces.
Competitive Structure of Industries:
*Threat of substitutes.
*Threat of new entrants.
*Rivalry among existing firms.
*Bargaining power of suppliers.
*Bargaining power of buyers
What else can I help you with?
What are the four external environmental factors that help organizations achieve optimal function?
Economic factor, Technological factor,Political/professional factor, and Sociological factor are the four.
What is external factor?
External factors are factors beyond your control that could significantly affect your ability to achieve your goals and objectives. ...
What are the different components of organizational behavior?
The four main components of organizational behavior (OB) are people, structure, technology, and the external environment: People The employees who work in the organization, either individually or in groups. Some say that people are the most important factor in a business. Structure The roles and relationships of people in the organization, which are defined by hierarchies and the division of labor. Technology The resources that people use to perform tasks, which can influence relationships. External environment The internal and external factors that affect the organization, including government, society, family, and other organizations. These factors include competition, regulations, and social trends. FOR MORE INFORMATION GO THROUGH OUR WEBSITE : SPEAKSAGA WE ARE PROVIDING INTERNSHIP FOR FRESHERS AND STUDENTS WE ARE PROVIDING SKILLS FOR GROWTH THROUGH A INTERNSHIP NO NEED TO PAY ANY AMOUNT FOR INTERNSHIP
What factor is used to describe and forces outside marketing that affect marketing management?
A company's marketing environment.
What is important in business?
Making money is an important factor of having a business. Having enough products for the public is also important in business.
What external factor triggers a specific immune response?
an invasion of a microorganism from the external environment
What factor was most important in determining the cultural traits of hunter-gatherers?
The environment they lived in, such as the availability of resources and the climate, was the most important factor in determining the cultural traits of hunter-gatherers. This influenced their social organization, technology, and belief systems.
Would you not classify as a political or legal factor in the external environment?
A political or legal factor in the external environment typically includes government policies, regulations, and political stability that can influence business operations. Factors such as cultural trends, technological advancements, or economic conditions do not fall under this classification. These elements are more aligned with social, technological, or economic factors, respectively, in the broader analysis of the external environment. Therefore, they do not directly relate to the political or legal landscape.
What factor besides technology are important for winning a war?
Determination.
What is shoprite's external macro environment?
Shoprite's external macro environment includes factors such as economic conditions, industry regulations, technological advancements, socio-cultural trends, and environmental concerns. These external factors can significantly impact Shoprite's operations, strategy, and overall performance in the retail industry.
What does environment factor means?
An environment factor refers to any external element that can impact an organism or system. This can include physical factors such as temperature, humidity, and light, as well as biological factors like predators and competition. Overall, environment factors play a crucial role in influencing an organism's behavior, development, and survival.
What type of barrier to communication is an environmental factor?
It depends on which environment factor you are referring to. There are internal and external environmental factors. Internal refers to factors within an organization and basically under the organizations control. External environmental factors refers to those factors outside of the organization and by in large not under the control of the organization.
Why do you study business environment?
The Business Environment is affected by various factors like: Economical factor,Demographic Factor, Ecological factor, Geographical factor etc etc.we have to study a business so that we all know the weakness and strength of it, and to know what is the advantage and disadvantage of it.To become a good businessman it is very important to know about business environment. BY HADIUZZAMAN
Explain the importance internal and external factors to be considered when drawing up the five year human resource plan?
Internal factors to be considered would be the company and how it will be changing in the next five years, how much money they will have, and what kind of staff training is available. External factors might be the climate of the economy.
What are the internal and external factors in market factors?
Market environment consist of all factors that in one way or another affect or affected by the organization desicion.there are external and internal factors. Internal factor , these involve (5M's)ManagementManpowermachinematerial andmoney.External factors , these includeMacro factor and micro factors.Macro factors are the one that affect the organization indirectly, these are (pestel)Politicalenviromentsocia-culturaltechnological andEcologicalleagalwhile micro factors are those which affect the organization directly it involvecustomerscompetitorssuppliers andpublic
Which factor is not important in determining an organism's chances of survival?
One factor that is not important in determining an organism's chances of survival is the color of its eyes. Eye color does not impact an organism's ability to survive in its environment or adapt to changes.
Is selective permeability important to cell membranes?
Yes, it's a major factor in maintaining the internal environment of cells.
