Impact Of Technological

Environment On Business

By Siddharth Awasarmol
Roll No:- 3
 What is Technological Environment

 Technological Environment include the methods, Techniques and Approaches

adopted for production of goods and services.
 Technological factors are one of various external environment factors that affect
businesses greatly and are also an integral component of the PESTLE analysis.
 In the present scenario, utmost dependence on equipment, technological factors can have
more effect on business operation and success globally than ever before.
 Features Of Technological Environment

 Technological environment is a component of macro or indirect action environment.

 Technological environment changes very fast.
 Technological environment affects the manner in which the resources of the economy are
converted into output.
Advantages of Technology To Business

 Cost Efficient
 Security Systems
 Improved Customer Services
 Improvement in Efficiency and Productivity
 Better Climate
Disadvantages of Technology

 Fear of New Responsibilities

 Fear of Losing Job
 Fear Of Losing Customer Relationship
 Lack of Training
 Lack of Privacy
Impact of Technological Environment

 Diminish security risks

 Business growth
 Improved Communication Processes
 Increased Employee Productivity
 Broaden Customer Bases
 Cost Efficient
Example: Banking Sector

The technological advancement has made banking very easy, time and
cost effective.
The internet Banking, Mobile Banking, ATMs have greatly affected the
industry.
Conclusion

 Technological Environment is an external factor that affect business and is a part of Macro
Environment .
 It is an Integral part of PESTLE analysis.
 Technological Factors keep changing.
 Technology plays an important role in the growth of a firm.