Technology factors in 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.
* C and D: 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.