Question

1. Identify three technological forces and three global forces in the general environment.

Answer 1

TECHNOLOGICAL FORCES:

1. Increased leisure time: with improved technology one may have more leisure time which can be utilize effectively in other processes of productions

2. Improvced communications: By improved technology communication among various stakeholders improved that ease the system of grivance and feedback which is requried to enhance the quality of product cycle.

3. Better management System: Managing the operations of the business is the sole key to attain the economies of scale to increase the profitability of the business. And management system can be improved by technological upgradation.

Even though there are some negative aspect as well like unemployement and information abuse.

GLOBAL FORCES:

1. Government Regulations: the force that effect the productivity of economic activities as well as it may influence the stakeholders to change their behaviour regarding current and future demand supply pattern.

2. Raw material availability: Globally some exterrnal forces may hampers the working of prodcution activities and availability of raw material is one of these. by this producer may become concious for his demand pattern of raw material.

3. Worker's expectations: Another Global force that an externality for a business is Worker's expectations from the producer that may be in the term of wages or benefits from the firm, that also effect the production cycle and profitiblity of the economic activity.