Technological
Technology is consistently changing and a business will need to keep up with new technology so they can satisfy customer demands and increase productivityThe rate at which a company or person produces goods.
Technological factors
| Influence | Impact | Action |
| New production equipment becomes available | Decreased production costs | Business can reduce prices or reinvest increased profits |
| Increased availability of Wi-Fi and mobile technology | Business can be more flexible and have improved communication with customers | Invest in mobile technology |
| Influence | New production equipment becomes available |
|---|---|
| Impact | Decreased production costs |
| Action | Business can reduce prices or reinvest increased profits |
| Influence | Increased availability of Wi-Fi and mobile technology |
|---|---|
| Impact | Business can be more flexible and have improved communication with customers |
| Action | Invest in mobile technology |
The impact of new technology on the working habits of a design company