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Term of the Day environmental factors

Term of the Day

environmental factors

External elements (economy, politics, regulations, climate, geography,technology, cultural trendssupplierscompetition) and internal elements (financial stabilitystakeholder relationships, company culture) which can negatively impact a company’s performance or profitability. In businessplanning, environmental factors must be considered and contingenciesdeveloped to counter their influence on future performance.
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Usage Example
While many economic factors directly impact the stock market,environmental factors such as hurricanes and tornadoes have also been known to drastically affect the stock market.

Term of the Day technology

 
Term of the Day

technology

The purposeful application of information in the designproduction, andutilization of goods and services, and in the organization of humanactivities.Technology is generally divided into five categories

  1. Tangibleblueprintsmodels, operating manualsprototypes.
  2. Intangible: consultancy, problem-solving, and training methods.
  3. High: entirely or almost entirely automated and intelligent technology that manipulates ever finer matter and ever powerful forces.
  4. Intermediate: semiautomated partially intelligent technology that manipulates refined matter and medium level forces.
  5. Lowlabor-intensive technology that manipulates only coarse or grossmatter and weaker forces.
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Usage Example
Due to the continual innovation of technology tasks that used to be difficult and time consuming are now considered quick and easy.