Question

Explain any two components of the Technological Environment.

Answer 1

1. Pace of Technological Changes: Technological changes influence organisations in the following ways:
   • It has the potential to render traditional industries obsolete.
   • It can revitalise (revitalise) established sectors by improving products or lowering costs.
   • It has the potential to spark completely new industries.
   • It may boost government regulation.
2. Technological Transfer: technologies transfer refers to technologies imported from technologically advanced foreign countries. Technology transfer can occur through:
   • Globalisation (MNCs)
   • Turnkey projects are ready for immediate usage and operation.
   • Trade (the sale of equipment by the manufacturer).
   • Training assistance (technical support provided by bilateral and multilateral donors)