Systematic application of scientific or other nonionised knowledge to practical tasks
 The important feature of technology is its exchange and then more change
2.1. Define what is the Technological Environment
* Fast move and changing environment.
* An environment with far reaching offsprings on businesses and their products/services.
* Technological advances can affect materials, components and products, manufacturing business processes, administration and distribution systems.
2. Impact of Technology
* Increased Productivity :
The most fundamental effect of technology isgreater productivity in terms of both case andquantity.
As a result of productivity, prices of someproducts decline, which spreads the beneficialeconomic effects of technology throughout thewhole loving system.
* need to spend on R& angstrom unit;D :
R&D assumes considerable relevance intechnological advances.
To gain competitive edge and market share inthe spheric market, technological advancement isnecessary. To achieve technologicaladvancement company has to spend on the R&Dby introducing new innovations.
* Demand for Capital:
at presents technology necessitates investment of money on acquiring or discovering of new ideasand their adoption; education, training andmaintaining of the managers and several otherrelated areas.
short letter organizations should raise huge fund,to adopt new technological advancements.
* favorable Change:
There is the change in social biography which resultsfrom a change in a technological process.
Changes the patterns of social life.
Status differences are likely to be created bytechnological advancement in developingcountries.
3. Advantages of the Technological Environment for the Society
* COMPETlTlVE ADVANTAGE
* Increased Reach
* Technology has helped market look for - complex sets of data can be input and analysed promptly and safely.
* Database technology allows the...If you want to get a full essay, golf club it on our website: Orderessay
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