Knowee
Questions
Features
Study Tools

Which external environment factor includes anything that affects innovation?SocialTechnologicalEconomicEnvironmental

Question

Which external environment factor includes anything that affects innovation?

  • Social
  • Technological
  • Economic
  • Environmental
🧐 Not the exact question you are looking for?Go ask a question

Solution

The external environment factor that includes anything that affects innovation is Technological.

Explanation:

Technological factors encompass advancements, innovations, and trends in technology that can influence how organizations develop and implement new ideas, products, or services. This includes the availability of new technologies, methods of production, information and communication technologies, and the overall speed of technological change.

Innovation is often driven by the need to adapt to new technologies or to leverage emerging technologies to create value. For example, a company in the manufacturing sector may adopt automation technologies to enhance productivity and cut costs, while a tech startup may innovate by utilizing artificial intelligence to improve user experiences.

In contrast, social, economic, and environmental factors certainly influence broader trends and consumer behavior but do not directly focus on the mechanisms and developments driving innovations as significantly as technological factors do. Therefore, while all these categories can impact innovation indirectly, it is the Technological aspect that most directly governs the pace and direction of innovation in a competitive landscape.

This problem has been solved

Similar Questions

Which factor in the external environment IS the customer base?EnvironmentalEconomicSocialNone of these

Which factor in the external environment includes all factors that influence the wealth or buying power of consumers?SocialPoliticalEconomicLegal

What is an example of an external environment force?PoliticalEconomicSocialAll of these

Which of the following forces would environmentalism fit under?A.nature of the workforceB.social trendsC.competition D.economic

The _____ environment includes changes in consumer preferences over time. A. industry B. social C. economic D. global E. retail

1/2

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.