Analysing The Technological Environment Of Your Business

The technological environment consists of the science and technology available to an organisation (and its competitors), and changes and developments in science and technology that occur regularly.
Some aspects of technology and technological change affect virtually all organisations. Developments in Information Technology (IT) and computer technology in recent time, including the Internet, are the most obvious example. Business entities that do not respond to changes in IT and computerisation of risk, loses their share of the market to competitors.

However, technological change might also affect particular industries. Scientific developments in food, drugs and emerging industries, for example, are having a continual impact on companies in these industries.

For strategic planning, IT managers, companies need to be aware of current technological changes and the possible nature of changes in the future. Technology could have an important influence, for example, on investment decisions in research and development, and investment in new technology.

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