Identify the statements that best describe the 'Technological Environment'.

(A) Scientific improvements
(B) Innovations in medicines and telecommunication
(C) New ways of Producing goods
(D) New Techniques of operating a business
(E) Stock index

Choose the correct answer from the options given below:

(A), (B), (C) and (D) Only

The correct answer is Option (2) → (A), (B), (C) and (D) Only.

(A) Scientific improvements- Technological environment
(B) Innovations in medicines and telecommunication- Technological environment
(C) New ways of Producing goods- Technological environment
(D) New Techniques of operating a business - Technological environment
(E) Stock index- Economic environment

Technological environment includes forces relating to scientific improvements and innovations which provide new ways of producing goods and services and new methods and techniques of operating a business. For example, recent technological, advances in computers and electronics have modified the ways in which companies advertise their products. It is common now to see computerised information kiosks, and World Wide Web multimedia pages highlighting the virtues of products. Similarly, retailers have direct links with suppliers who replenish stocks when needed. Manufacturers have flexible manufacturing systems. Airline companies have Internet and World Wide Web pages where customers can look for flight times, destinations and fares and book their tickets online. In addition, continuing innovations in different scientific and engineering fields such as lasers, robotics, biotechnology, food preservatives, medicine, telecommunication and synthetic fuels have provided numerous opportunities and threats for many different enterprises. Shifts in demand from vaccum tubes to transistors, from steam locomotives to dieseland electric engines, from fountain pens to ballpoint, from propeller airplanes to jets, and from typewriters to computer based word processors,have all been responsible and creating new business.