Page 52 - eBook: EXIM for Beginner
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• TECHNOLOGICAL FACTORS
Changes and breakthroughs in technology that may have an
impact on your business are known as technological factors.
Technology is constantly changing, and these developments can be
beneficial or damaging to your company. These aspects include
market technical awareness, research and development, and the
advent of new technologies.
New technologies have the potential to significantly reduce
inflation and recession. New machines have the potential to reduce
production costs. Advances in information technology have enabled
companies to plan global supply chains, allowing them to produce
better products at lower costs and distribute them more efficiently.
