How Do Technological Factors Affect Business? Acasestudy.com © 2007-2019 All rights reserved. On the flip side though, a global rise in internet connectivity might mean less interest in traditional communication means, which is a negative consequence for some — telephone service providers will have to change their offerings to stay relevant, while paper-and-ink printing companies might receive less business. This can reduce costs for manufacturers, distributors, supermarkets, and many other different businesses. Specifically, these are the Political, Economic, Social (sometimes socio-cultural), Technological, Legal, and Environmental ones, hence the acronym ‘PESTLE’. This presents an even larger market for many companies who use the internet to connect with their customers. See the full PESTLE analysis of Starbucks here. In case you haven’t already seen our previous articles in this series, we’ve already covered Political factors, Economic factors, and Environmental factors. Growing demand for mobile technology will make the personal computer a less attractive product. Growing demand for mobile technology will make the personal computer a less attractive product. It falls under the category of. Specifically, these are the Political, Economic, Social (sometimes socio-cultural), Technological, Legal, and Environmental ones, hence the acronym ‘PESTLE’. In PESTLE analysis, technological factors are variables which relate to the existence, availability, and development of technology. Technology hugely dictates the way many things are done, in business or otherwise. On the flip side, the gradual increase in job automation might not be such a great thing for job search firms. Competitors find little struggle in recreating many of Apple’s products. One of the handy things about PESTLE analysis in particular (as opposed to other business management/analysis tools) is that it is very easy to conduct, as long as you are familiar with the six categories. Apple’s quite restricting native Operating Systems can limit the scope of what is possible on their devices. Technological factors can be broadly divided into two areas: manufacture and infrastructure. This presents an even larger market for many companies who use the internet to connect with their customers. On the flip side though, a global rise in internet connectivity might mean less interest in traditional communication means, which is a negative consequence for some — telephone service providers will have to change their offerings to stay relevant, while paper-and-ink printing companies might receive less business. The growing desire for internet connectivity has given Starbucks an opportunity to rebrand their coffeehouses and stand out from the competition by providing free WiFi. from kenya. These days, he spends his time flipping domain names, writing articles and pursuing other interesting business ventures. Would you like to get a custom case study? There are many different examples of technological factors which affect business, visible in companies from Apple to Starbucks. There are many different examples of technological factors which affect business, visible in companies from Apple to Starbucks. Everyday our market is changing the way it is. It might be unclear how technological factors can directly affect business, unless you take a step back and look at all of the technology that’s used in day-to-day life. PESTEL or PESTLE analysis, also known as PEST analysis, is a tool for business analysis of political, economic, social, and technological factors. In conclusion, technological factors are one of many external factors that can affect businesses, and are an integral part of 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. Specifically, these are the Political, Economic, Social (sometimes socio-cultural), Technological, Legal, and Environmental ones, hence the acronym ‘PESTLE’. Mobile payments are slowly being introduced, which might make a morning cup of coffee more attractive to many customers (and in doing so increase their potential market). Got other good examples of technological factors which affect business? See the full PESTLE analysis of Starbucks, PESTLE Analysis: Business Environmental Analysis, https://pestleanalysis.com/pestle-analysis-of-south-africa/, Tips On How To Manage Your Finances and …, Gucci SWOT Analysis: 3 Weaknesses Undermining Gucci’s Strengths, COVID-19 SWOT Analysis: The Complete Picture, Belgium SWOT Analysis: 6 Strengths and Weaknesses. In case you haven’t already seen our previous articles in this series, we’ve already covered. In case you haven’t already seen our previous articles in this series, we’ve already covered Political factors, Economic factors, and Environmental factors. Technological factors create scopes for new products, markets, and demands. PESTLEanalysis.com is an educational website collecting all the information and resources related not only to PESTLE but also SWOT, STEEPLE and other analysis that will come useful to business owners, entrepreneur, and students alike. Thomas Bush is an English-born writer, entrepreneur, and fitness enthusiast. Apple’s quite restricting native Operating Systems can limit the scope of what is possible on their devices. , which is to say that it revolves around identifying the various external variables that affect a business’s performance. Our website is made possible by displaying online advertisements to our visitors. PESTLE analysis can be an extremely effective tool in business, if used correctly. By continuing we’ll assume you board with our, PESTLE Analysis: Legal Factors Affecting Business, PESTLE Analysis: Environmental Factors Affecting Business, PESTLE Analysis: Economic Factors Affecting Business, Analysis of Factors Affecting the Demand of Google Products, Analysis of the Different Factors Affecting Consumer Decision Making Process of Makati Residents When Purchasing Electronic Gadgets, How to secure financing as a small business owner, How to Make a Business Plan for Any Business, 7 Crucial Macro Environment Factors to Include in Your Analysis, Macro Environment Examples in the Real World. Internet connectivity —  It’s undoubtable that in recent years global internet connectivity has been on the rise. It falls under the category of ‘environmental analysis’, which is to say that it revolves around identifying the various external variables that affect a business’s performance. Technological Factors Affecting Starbucks. Got other good examples of technological factors which affect business? The growing desire for internet connectivity has given Starbucks an opportunity to rebrand their coffeehouses and stand out from the competition by providing free WiFi. Mobile payments are slowly being introduced, which might make a morning cup of coffee more attractive to many customers (and in doing so increase their potential market). They have already teamed up with Apple to use their devices as a platform for presenting ads/discounts. What Is the Macro Environment in Business Analysis? PESTLE analysis can be an extremely effective tool in business, if used correctly. On the flip side, the gradual increase in job automation might not be such a great thing for job search firms. They can be defined as factors which relate to the presence and development of technology, on either a local or global scale. I would like to know how can social factors, technical factors, economic factors, environmental factors and political factors may affect businesses in South Africa please. Life cycle of technology. Let’s look at how these can affect business in some more depth: Automation — The automation of many unskilled tasks can allow companies to replace human production lines with entirely machine ones. This can reduce costs for manufacturers, distributors, supermarkets, and many other different businesses. Think about the machines which are used to print on the t-shirts you buy, the computer servers which are used to keep up the website(s) you own, or the fuel used to power the car(s) you drive. Here, at ACaseStudy.com, we deliver professionally written papers, and the best grades for you from your professors are guaranteed! Be sure to leave them below along with your questions and comments. 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