Identify the statements that best describe the 'Technological Environment'.
(A) Scientific improvements
(B) Innovations in medicines and telecommunication
(C) New ways of Producing goods
(D) New Techniques of operating a business
(E) Stock index
Choose the correct answer from the options given below :
(
This question was previously asked in
Shift 13/06/2023 12:00 PM - 2:00 PM
Correct Answer
Detailed Explanation
Technological Environment: Technological environment includes forces relating to scientific improvements and innovations which provide ways of producing goods and services and new methods and techniques of operating a business. . In addition, continuing innovations in different scientific and engineering fields such as lasers, robotics, biotechnology, food preservatives, medicine, telecommunication and synthetic fuels have provided numerous opportunities and threats for many different enterprises
Economic Environment: Interest rates, inflation rates, changes in disposable income of people, stock market indices and the value of rupee are some of the economic factors that can affect management practices in a business enterprise.
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