Q> Identify the dimension of business environment in the following cases
1. Importing machinery with new techniques to meet the requiement
of pollution control regulations
Answers
Answer:
Technological Environment
The primary forces that are responsible for the improvement in the scientific field and new innovations being introduced in the market for improving the quality of goods and services and techniques for operating business more efficiently are known as technological factors in the business environment.
Just like two sides of the same coin, technological changes are threats to some organisations and opportunities for other. The introduction of Television was a major blow to the industry of Radio and Cinema industry. Mobile phones have snatched the market from Telephones.
These days, the online food delivery businesses are emerging in the market which is using smartphone technology that is ‘Apps’ to order food online. This is a major change in the food.
industry business and has affected the restaurant industry tremendously.
New innovations are occurring in medicine, telecommunications and biotechnology. Recent advancement in the market of Autonomous cars i.e Driverless cars is proving to be a major threat to the business of self-driving car industry.
Hope this will help you....