Technological Segment

• Pervasive and diversified in scope, technological changes affect many parts of societies.
• Technological effects occur primarily through new products, processes, and materials.
• The technological segment includes the institutions and activities involved in creating new knowledge and translating that knowledge into new outputs, products, processes, and materials.
• Given the rapid pace of technological change and risk of disruption, it is vital for firms to thoroughly study the technological segment.
• early adopters of new technology often achieve higher market shares and earn higher returns
• both large and small firms should continuously scan the general environment to identify potential substitutes for technologies that are in current use, as well as to identify newly emerging technologies from which their firm could derive competitive advantage
• As a significant technological development, the Internet offers firms a remarkable capability to anticipate how it allows them to create more value for customers and to anticipate future trends.
• The explosive growth in the demand for mobile Internet access has significant implications for businesses.
• In spite of the Internet’s far-reaching effects and the opportunities and threats associated with its potential, wireless communication technology is becoming a significant technological opportunity for companies to pursue.