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... In order to assess their environment, a business may use a PEST analysis structure
to evaluate the external influences or macroenvironmental ...
... Analysis of the External Environment of Business -Technological- A ?business' is
commonly defined as an organisation which provides goods or services in ...
... macroeconomic and microeconomic analysis does interlace, but ... dimension of the business
environment is extremely ... then the external environment would certainly ...
... BUSINESS METHODS PEST (Political, Economical Social and Technological environment )
Analysis The external environment of any organisation / university ...
... analysis step by step and analyze the external, internal and customer environment
systematically. ... 1) Fahey & Narayanan, Macro-environmental Analysis, p. 105 ...
Submitted by nixonc on January 4, 2006
Category: Business
Words: 1591 | Pages: 7
Views: 284
Popularity Rank: 40,523
Average Member Grade: N/A (Add a Comment / Grade this Paper)
Analysis of the External Environment of Business
The Technological Environment
The external business environment consists of four elements, they are as follows: Political, Economic, Social and technological. It would be impossible to analyse the whole environment in one essay, I have therefore decided to focus my essay on the technological environment. I have chosen this area to focus on because as Palmer and Hartley point out, it is one area that is forcing immense change in the external business environment.
The business environment is at present moving through a dynamic and turbulent phase driven by technological change, globalization and increasingly competitive markets' (Palmer and Hartley 2002).
I will be researching and analysing the major changes that have taken place in the technological environment over the last ten years and explore how they have affected business practice. I will also be discussing how these changes have implicated on the Public Relations Industry.
Technology is defined as:
the sum of knowledge of the means and method of producing goods and services' (Bannock et al 2003).
This authoritative definition of technology assumes technology only refers to the artifacts themselves rather than the way they are used and the theories governing their application. Human knowledge however, is an essential ingredient of technology and I therefore prefer the following definition:
The application of available knowledge and skills to create and use materials, processes and products' (Needle 2004)
This wider definition relates the application of knowledge to the wider processes of business practices i.e. the production and promotion of goods and services. Further it indicates how technological developments are relevant to public relations.
Technology refers to the organisation of production as well as the actual techniques of production itself....
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