Environmental Factors Affecting The Autonomous Vehicle Market

2040 Words9 Pages
There are many key environmental factors impacting all of the organizations in the autonomous vehicle market, which can be broken into 2 groups’ task environment and general external environmental factors. The task environmental factors are industry sector, market sector, and international sector. The industry sector of environmental factors is a key factor because it focuses on competitors, industry size and competitiveness. All of these organizations must be aware of their competition and what new technologies they might roll out in order to maintain competitiveness within the market sector. These organizations must always be mindful of the market sector which includes customers, clients and potential users or buyers if they want to keep a competitive edge. An example of this is BMW is launching a new service ReachNow, “The service, to be called ReachNow, illustrates how car companies are expanding their business from manufacturers of automobiles to providers of auto-related services.” (Boston, 2016) International sector is another major environmental factor because of globalization. All of these automotive organizations understand the concept of globalization and what it means to their business models with integrating markets all over the world. The external factors include government sector, natural sector, economic conditions, technology sector, and financial resources. All of these factors will play a role in how the organization plans and operates and executes their
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