Technological Environment

 

The technology has a major impact on the business.  It affects the business prospects, cuts down the profits and forces the management to change the course of the business operations. Any change in technology changes the work cultures, the methods and the systems.  It affects the speed of the operations and gives a boost to the productivity of the production systems.  Examples of technological changes are seen in aviation, electronics, energy, communication, consumer goods industry, optics, medicines and manufacturing.