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Technological Environment

Definition of Technological Environment :-


“Technological Environment means the development in the field of technology which affects business by new inventions of productions and other improvements in techniques to perform the business
 work. "


Explanation


We see that in 21st century, technology is changing fastly. Now, all work is done online and business shops are using machinery at high level. There are following technological environment factors which affects business.


• New inventions to produce the products.

• New inventions relating to marketing like BPO for selling online in international market.

Status of Technological Environment or Technology in India :-


After Independence, India had basic problems like poverty , unemployment and development of India . Indian Govt. has taken many following steps for technological development.


1. Establishment of technological and research institute

Indian govt. has established 500 technological institutes for providing education to Indian students. It has also established 1080 research institutes. In these institutes major names like space research centre, medical research centre and agricultural research centre have developed India technically.


2. Positive Technical policy

India has strong and positive technical policy for technological development. This policy opens door to import technology from foreign countries for increasing agricultural and industrial developments.


3. High Growth Rate of Information Technology in India


In India, IT sector is developing with 35% growth rate, India is second country after China who is using internet at large scale for e-commerce , e-education and e-accounting .


4. Incentive for promoting Technology in India


• Indian Govt. has given 100% income tax exemption for expenses incurred in research of technology in India.

• State financial corporation is uplifting domestic technology by supporting finance to domestic Industries.

Comments

  1. hello Mr. Vinod
    Nice blog as well as nice writting. I am happy knowing the all article. I want to be follower of ur blog. Please add me.

    Thanks N Regards
    Vedika

    ReplyDelete

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Objective of Business Environment

Following are main objectives of business environment:
1. Knowledge of Information 
By studying the business environment, we can know the changes of business. This information is very useful for our business. Every businessman should aware current environment of business. With this, he can think the future of his business in such environment. 
2. Basis of Decisions 
One of main objective of the study of business environment that it can provide all the information which is needed for taking good decisions. Suppose, you completed your internal business environment study. With this study, you can take decision relating to purchase, sale, salary and price because you know your competitor, you know your suppliers and you know your customers. 
3. Helpful in making of Policies 
For making good business policies, we need to know and scan business through business environment. 
4. Technological Planning 
Today, technology is changing very fastly. 3 years ago, I have to search software for downloading …

Limitation of Business Environment Analysis

Following are main limitation of business environment analysis:

1. Unexpected and Unanticipated Events 

We can not tell unexpected and unanticipated events in business environment analysis. Sometime, business has to face unexpected happenings. So, there will no benefit of business environment in these cases.

2. No sufficient Guarantee

Business environment analyst does not give any guarantee whether all events will happen as per estimation in business environment.

3. Uncritical Faith 

Sometime data may be incorrect. So, decisions on basis of these analysis may be risky for business.

4. To much information

Sometime too much information relating to business environment analysis will create the doubt in businessmen.

Introduction to Business Environment

Business environment may be defined as the set of external and internal factors which affects the decisions of business. We can divide business environment into two parts

A. The Micro Environment of Business

These are powers which are deeply related with company and company can control these type of environment by improving its capacity and efficiency.

1. Suppliers

Suppliers are the persons who supply raw material to company.

2. Customers

Customers are the persons who buy goods from company.

3. Market Intermediaries

Market intermediaries are those person who helps company to sell its products.

4. Financial Intermediaries

Financial intermediaries are those institutions who provide loan, credit and advance to company.

5. Competitors

Competitors are those who also sell same product of company.

6. Public

Public is those group of people who can buy or who can show their interest to buy the products of company.

B. The Macro Environment of Business

Macro environment of business means all exte…