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Of all the forces in the macro environment, technology continues to be a new constantly changing force on our economy. The term “macro environment” denotes all forces external to the business entity itself. Technology will be closer to, and have a greater impact on the operation of firms than firms that lack this technology. I believe that technology has had the greatest influence on our macro environment.
Technology is a major macro-environmental factor that influences our daily lives and the development of goods and services. Of all the macro environmental factors discussed, the changing technological environment might have the biggest impact on consumer spending and corporate spending.
The growth of electronic business is another example of technological innovation and its importance in the macro environment. ... Society has prospered from improvements in computer technology in a number of ways, but many people choose to see only the negative outcome from this application. ... Let us assume there is a net reduction in the total number of people employed as a consequence of adopting this technology, certainly this does have an impact on society. However, looking at these technologies from a macro economic standpoint we would find that using either of these technologies reduces the resources needed to deliver goods and services. In the case of the grocery store bar code scanner, the grocery store has to hire fewer ‘checkers’ because the technology is faster and more efficient than entering a price for each product purchased manually. ...
The use of computer technology allows employers not only to monitor work, such as the number and frequency of incoming and outgoing calls made by or received by the company, but also can be used to monitor individual workers.
Approximate Word count = 1277
Approximate Pages = 5.1
(250 words per page double spaced)
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