Market awareness & acceptance. See the full PESTLE analysis of Starbucks here. How Do Technological Factors Affect Business? 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. Having freelanced for years, Thomas has appeared on various online publications numerous times, but recently set up his own website 'TalkSupplement' about the world of sports nutrition. 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. 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. Growing numbers of cybercriminals could jeopardize Apple’s reputation for safety and security. In PESTLE analysis, technological factors are variables which relate to the existence, availability, and development of technology. Technological Factors Affecting Starbucks. Technological Factors of PESTLE Affecting Businesses by Fahmina Ahmed Papia The way businesses around the world are improving and changing; technology played a significant role in that. Life cycle of technology. Read the entire PESTLE analysis of Apple on our website here. How about receiving a customized one? 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. There are many different examples of technological factors which affect business, visible in companies from Apple to Starbucks. from kenya. 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. Using social media. Despite Gucci's strong presence in the fashion industry, it needs to avoid serious financial implications, as examined by our Gucci SWOT analysis. Would you like to get a custom case study? Internet connectivity —  It’s undoubtable that in recent years global internet connectivity has been on the rise. Technological factors create scopes for new products, markets, and demands. Growing demand for mobile technology will make the personal computer a less attractive product. Got other good examples of technological factors which affect business? Read the entire PESTLE analysis of Apple on our website here. Technology hugely dictates the way many things are done, in business or otherwise. In the present scenario, utmost dependence on equipment, technological factors can have more effect on business operation and success globally than ever before. Read the entire PESTLE analysis of Apple on our website, Technological Factors Affecting Starbucks. In case you haven’t already seen our previous articles in this series, we’ve already covered Political factors, Economic factors, and Environmental factors. That’s why we are writing this set of articles about each of the categories, from P to E. We’ll be providing definitions, in-depth explanations, and relatable examples. 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. Specifically, these are the Political, Economic, Social (sometimes socio-cultural), Technological, Legal, and Environmental ones, hence the acronym ‘PESTLE’. — The automation of many unskilled tasks can allow companies to replace human production lines with entirely machine ones. 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. They can be defined as factors which relate to the presence and development of technology, on either a local or global scale. Everyday our market is changing the way it is. On the flip side, the gradual increase in job automation might not be such a great thing for job search firms. This could include things from computational power to engine efficiency. You may also be interested in: Introduction to PESTLE Analysis, PESTLE Factors, Political Factors, Economic Factors, Social Factors, Technological Factors, Legal Factors, Environmental Factors and Advantages and Disadvantages. There are many different examples of technological factors which affect business, visible in companies from Apple to Starbucks. 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. On the flip side, the gradual increase in job automation might not be such a great thing for job search firms. Technological factors can be broadly divided into two areas: manufacture and infrastructure. PESTLE analysis can be an extremely effective tool in business, if used correctly. In conclusion, technological factors are one of many external factors that can affect businesses, and are an integral part of PESTLE analysis. We’ve gathered the most important tips that can help you safely manage your online business’s finances and profits. General examples of Technological Factors affecting business include: The ability of computers to create truly ‘random’ numbers. , which is to say that it revolves around identifying the various external variables that affect a business’s performance. Got other good examples of technological factors which affect business? PESTLE analysis can be an extremely effective tool in business, if used correctly. In case you haven’t already seen our previous articles in this series, we’ve already covered. Apple’s quite restricting native Operating Systems can limit the scope of what is possible on their devices. In case you haven’t already seen our previous articles in this series, we’ve already covered Political factors, Economic factors, and Environmental factors. PESTEL or PESTLE analysis, also known as PEST analysis, is a tool for business analysis of political, economic, social, and technological factors. Organizations that fail to keep up with technological advances leave opportunities for a smaller producer or new entrant to enter their market. 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. Be sure to leave them below along with your questions and comments. This could include things from computational power to engine efficiency. Welcome to the world of case studies that can bring you high grades! This presents an even larger market for many companies who use the internet to connect with their customers. Thomas Bush is an English-born writer, entrepreneur, and fitness enthusiast. What Is the Macro Environment in Business Analysis? The table below lists just some of the topics that you might want to consider when evaluating technological factors: Cost – Benefit of new technology. Intellectual property. 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. In conclusion, technological factors are one of many external factors that can affect businesses, and are an integral part of PESTLE analysis. A PESTLE analysis is a strategized framework or tool that is predominantly used by the marketers to analyze as well as monitor some of the macro environmental factors that leave behind an impactful difference on the progress of the organization. We use cookies to give you the best experience possible. In PESTLE analysis, technological factors are variables which relate to the existence, availability, and development of technology. These days, he spends his time flipping domain names, writing articles and pursuing other interesting business ventures. Be sure to leave them below along with your questions and comments. 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. 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. 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. Growing demand for mobile technology will make the personal computer a less attractive product. Benefits of Automation. [email protected] 804-506-0782 350 5th Ave, New York, NY 10118, USA. This can reduce costs for manufacturers, distributors, supermarkets, and many other different businesses. Competitors find little struggle in recreating many of Apple’s products. 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. On the flip side, the gradual increase in job automation might not be such a great thing for job search firms. Specifically, these are the Political, Economic, Social (sometimes socio-cultural), Technological, Legal, and Environmental ones, hence the acronym ‘PESTLE’. That’s why we are writing this set of articles about each of the categories, from P to E. We’ll be providing definitions, in-depth explanations, and relatable examples. PESTLE Analysis: Technological Factors Affecting Business, PESTLE analysis can be an extremely effective tool in business, if used correctly. Many …, There are many companies the world over, that conduct PESTLE …. Specifically, these are the Political, Economic, Social (sometimes socio-cultural), Technological, Legal, and Environmental ones, hence the acronym ‘PESTLE’. This can reduce costs for manufacturers, distributors, supermarkets, and many other different businesses. Acasestudy.com © 2007-2019 All rights reserved. It falls under the category of. https://pestleanalysis.com/technological-factors-affecting-business This can reduce costs for manufacturers, distributors, supermarkets, and many other different businesses. 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. Internet connectivity — It’s undoubtable that in recent years global internet connectivity has been on the rise. How Do Technological Factors Affect Business? How Do Technological Factors Affect Business? This presents an even larger market for many companies who use the internet to connect with their customers. In PESTLE analysis, technological factors are variables which relate to the existence, availability, and development of technology. Growing numbers of cybercriminals could jeopardize Apple’s reputation for safety and security. Technological factors are one of various external environment factors that affect businesses greatly and are also an integral component of the PESTLE analysis. 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). See the full PESTLE analysis of Starbucks here. Our website is made possible by displaying online advertisements to our visitors. 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). Apple’s quite restricting native Operating Systems can limit the scope of what is possible on their devices. 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. 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. They have already teamed up with Apple to use their devices as a platform for presenting ads/discounts. 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. They can be defined as factors which relate to the presence and development of technology, on either a local or global scale. This could include things from computational power to engine efficiency. Technology hugely dictates the way many things are done, in business or otherwise. Please consider supporting us by disabling your ad blocker. 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. General examples of Technological Factors affecting business include: The ability of computers to create truly ‘random’ numbers. This presents an even larger market for many companies who use the internet to connect with their customers. —  It’s undoubtable that in recent years global internet connectivity has been on the rise. Here, at ACaseStudy.com, we deliver professionally written papers, and the best grades for you from your professors are guaranteed! Check out our newest article: https://pestleanalysis.com/pestle-analysis-of-south-africa/, HI, I would like to know some of the social external factors that would affect an empty container storage and transportation company. 6 Effective Content Marketing Strategies You May Have Overlooked, Market Analysis Definition (With Explanation and Examples). The development and adoption of mobile technology presents many opportunities for Starbucks.

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