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See the full PESTLE analysis of Starbucks here. PESTLE analysis can be an extremely effective tool in business, if used correctly. How about receiving a customized one? In case you haven’t already seen our previous articles in this series, we’ve already covered Political factors, Economic factors, and Environmental factors. Technological factors create scopes for new products, markets, and demands. Thomas Bush is an English-born writer, entrepreneur, and fitness enthusiast. In the present scenario, utmost dependence on equipment, technological factors can have more effect on business operation and success globally than ever before. 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. Technological factors can be broadly divided into two areas: manufacture and infrastructure. Organizations that fail to keep up with technological advances leave opportunities for a smaller producer or new entrant to enter their market. Internet connectivity — It’s undoubtable that in recent years global internet connectivity has been on the rise. Life cycle of technology. Internet connectivity —  It’s undoubtable that in recent years global internet connectivity has been on the rise. The development and adoption of mobile technology presents many opportunities for Starbucks. This could include things from computational power to engine efficiency. 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. Benefits of Automation. 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. Growing numbers of cybercriminals could jeopardize Apple’s reputation for safety and security. This could include things from computational power to engine efficiency. 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. Welcome to the world of case studies that can bring you high grades! 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. In PESTLE analysis, technological factors are variables which relate to the existence, availability, and development of technology. Market awareness & acceptance. 6 Effective Content Marketing Strategies You May Have Overlooked, Market Analysis Definition (With Explanation and Examples). Everyday our market is changing the way it is. 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. 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’. They can be defined as factors which relate to the presence and development of technology, on either a local or global scale. 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. There are many different examples of technological factors which affect business, visible in companies from Apple to Starbucks. Here, at ACaseStudy.com, we deliver professionally written papers, and the best grades for you from your professors are guaranteed! In case you haven’t already seen our previous articles in this series, we’ve already covered. The table below lists just some of the topics that you might want to consider when evaluating technological factors: Cost – Benefit of new technology. 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. 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). Despite Gucci's strong presence in the fashion industry, it needs to avoid serious financial implications, as examined by our Gucci SWOT analysis. General examples of Technological Factors affecting business include: The ability of computers to create truly ‘random’ numbers. 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. 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). General examples of Technological Factors affecting business include: The ability of computers to create truly ‘random’ numbers. Please consider supporting us by disabling your ad blocker. 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