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Question
Explain any two components of the Technological Environment.
Solution
- Pace of Technological Changes: Technological changes influence organisations in the following ways:
- It has the potential to render traditional industries obsolete.
- It can revitalise (revitalise) established sectors by improving products or lowering costs.
- It has the potential to spark completely new industries.
- It may boost government regulation.
- Technological Transfer: technologies transfer refers to technologies imported from technologically advanced foreign countries. Technology transfer can occur through:
- Globalisation (MNCs)
- Turnkey projects are ready for immediate usage and operation.
- Trade (the sale of equipment by the manufacturer).
- Training assistance (technical support provided by bilateral and multilateral donors)
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