Technology is Changing the Competitive Business Landscape
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Technology is an important component of the business environment.
Describe how technology is changing the competitive business landscape.
Include example(s) of how technology has impacted specific businesses or industries.
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The solution describes how technology is changing the competitive business landscape.
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Please find guidelines and ideas for Technology and Businesses in the attached file.
Running Head: BUSINESS ENVIRONMENT
Technology and Businesses
Introduction
Technology plays an important role in the growth of trade and commerce around the world (Shaikh, 2006). Business environment comprises of all those things that affect the business operations and include internal and external stakeholders, government rules and regulation, social and economic factors and technological development. Business environment includes both internal as well as external factors like, social, economical and technological factors which are beyond the control of the business (Stredwick, 2005). In present scenario, technological environment has a great impact on the business environment. So, it is important for an organization to adopt technological advancement strategies to establish itself in the competitive market.
Impact of Technology
Today, as the business landscape is changing rapidly, so it has become important for the business to recognize the changing environment around the business in the global market (Shaikh, 2006). It is also important for the firm to understand the new technology, which would help the business in increasing technological innovation (George, 2003). Technology has changed the competitive business landscape in terms of technological advancement. It has a great impact on business performance and ensures that the companies which are not following technological advancement are losing their ...
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