Technological Factorthe Rapid Development Of Technology
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Technological factor The rapid development of technology requires a fast reaction by the company in order to survive in an environment that is competitive and in line with the new trends and new innovative services that other competitors can offer.
These factors may include both products and processes and can provide opportunities and threats. It is important to have a competitive advantage and a driver who succeed in a globalized world. The product is sold in a new format and a procedure for the powerful in business.
Some of these factors have an impact on business technology proved much for some people, some companies aggressively investing in certain types of equipment only to see the most innovative technology and cost effective…show more content… Cultural factor Changes in the population is also an important factor in the business world. As the population ages, as the market for popular music and fashion can shrink and luxury goods market and health care products may increase. Furthermore, changes in sex ratios, race, religion and ethnic groups and different societies may also have a significant impact on the way companies do business.
Ads can be a business area that is closer in touch with the changing social culture. The ads are always trying to be hip and trendy and to do this, departments and advertising agencies cannot lose track of the pulse of society involved in the business. The change in moral values and all the fashion to consider when creating an extrovert advertising.
Apart from the interaction of enterprises with market and customer social-cultural issues also affect the decision-making process within the company, for example, by changing their gender roles and increasing the focus on family life have led to. There has been increased attention for maternity and paternity leave, even the organization. Moreover viewing habits of racial discrimination and sexual harassment that has changed dramatically in recent years as a result of changing social culture.
E-commerce factor The liberalization of world trade and technological advances have opened the domestic market and abroad. Trade liberalization is the elimination of trade barriers that prevented previously free trade in