The rapid technological changes which we are experiencing force us to keep our defences up and pay particular attention so as to recognise quickly, developments in industry which could make products less competitive or even obsolete and which directly threaten the company’s business.
Possible technological factors that could exert significant influences on the business environment include:
- government spending on research
- government and industry focus on technological developments
- new discoveries and developments
- the rate of technology transfer
- the technology lifecycle and the speed of technological obsolescence
- energy use and costs
- changes in materials’ science
- the impact of changes in information and communications technologies (ICT)
- the Internet and the World Wide Web.