Technology factorsin an organization's external context include technological developments and innovations outside the organization that affect its competitive environment.
Examples of Technology Factors:
Research and Design Activity: Innovations in materials and engineering that impact product development.
Rate of Technological Change: Rapid advancements that require businesses to adapt to remain competitive.
Relation to External Context:
These factors originate outside the organization and influence strategic decision-making and innovation adoption.
Why Other Options Are Incorrect:
A: Market segmentation and pricing are marketing-related factors.
CandD: These describe internal applications of technology, not external influences.
References:
PESTEL Analysis: Includes technology as a critical external factor.
ISO 31000: Considers external technological developments in risk evaluations.
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