Technological Environment

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Assignment on
“Technological Environment”
Management of Technology
Course: SIM 516

Prepared by:
Tahmina Binte Rahman
MBA ID 240
Department of Management Studies
University of Dhaka

Prepared For:
Mr. Md. Ali Akkas 
Professor
Department of Management Studies
University of Dhaka

Submission Date: 10th of October, 2012

Table of Contents

Elements| Page No.|
1.Introduction| 2|
2.Definitions of Technological Environment| 2|
3.Types of Technology| 2|
4.Functions of Technological Environment in Business| 3|
5.The Advantages and Disadvantages of Technology| 4-5|
6.Components of Technology which Has Changed the Business Environment| 6| 7.Technological impact on the Global Business Environment| 7| 8.Impact of Technological Changes in Business| 8|
9.Transfer of Technology| 9|
10.Technological environments of Developing Countries| 10| 11.Conclusion| 11|
12.References| 12|

Technological Environment
Introduction:
Technological environment is one of those environments which have a direct impact on business but business has nothing to control over technological change perhaps it has to take prompt action to cope up with the changing environment of Technology. How management reacts to the influences of the technological environment is the key to its business success. Management can monitor the changes in technological environment and plan accordingly, or can just react as each situation develops and hope to survive. Successful companies are the ones who see trends developing and plan in advance to deal with the anticipated changes. And it needs the proper utilization of efficient and effective managerial skill. Definitions of Technological Environment:

Technological Environment means the development in the field of technology which affects business by new inventions of productions and other improvements in techniques to perform the business work. In other word, External factors in technology that impact business operations. Changes in technology affect how a company will do business. A business may have to dramatically change their operating strategy as a result of changes in the technological environment.

Types of Technology:
General Perspective:
Technology can be classified in several ways. For example, blueprints, machinery, equipment and other capital goods are sometimes referred to as hard technology while soft technology includes management know-how, finance, marketing and administrative techniques. When a relatively primitive technology is used in the production process, the technology is usually referred to as labor-intensive. A highly advanced technology, on the other hand, is generally termed capital-intensive. Business Perspective:

The way that businesses function both in and out of the office has changed drastically. Thanks to advances in computer, information and communication technology. Companies now use a variety of mobile devices, software and various applications that employees can use for marketing and networking, as well as research and development, for their goods and services. * Internet- the Internet, perhaps more than any other factor, has changed the way that companies do business. Most companies have websites, which allow them to reach a larger audience and attract customers and employees from all over the world. In addition, businesses are now utilizing social-networking websites such as Facebook, LinkedIn and Twitter, enabling them to communicate directly with customers with news and updates. These websites are interactive, which means that companies can also receive immediate feedback on new products from customers, speeding the process of research and development. Email, video conferencing and online chat rooms have also made it easier for businesses to become more globalized, communicating quickly and easily with clients and co-workers regardless of their location. * Mobile Devices- The Internet resources listed above...
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