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Posted By Admin @ Mar 02, 2022


PESTLE
ABC
Institute
PESTLE
Technological Factor
Technological factors in PESTLE analysis show technology-related factors from the external environment which can draw an impact on the outcomes of a business organization in a positively or negatively. Technological factors include technological incentives, levels of innovation, technological awareness, technological change, automation, and R&D activity.
Technology Innovation Level:
According to market analysis, China is a leading country in technology innovation. Chinese are producing and selling highly innovative and technologically advanced products which cause to produce threats for other competitor companies (Waugh, 2018).
Technological Awareness:
Chinese people are familiar with the use of advanced technology and they are eager to jump on new technologies as something new comes in the market. Such dynamic market because of technological innovation can cause issues for many local organizations in case they fail to meet the requirements of the market.
 Technological incentives:
China is working on a technological incentive program for the advancement of technology related knowledge and products in domestic companies and foreign enterprise (Li & Yu, 2017).
Automation:
In china automation system is getting common. Production system and service sectors are getting the benefit of this automation system because of advanced technology.
R&D Activity:
In China, the research and development process is dependent upon information technology. Big data, data analytics, and customer databases provide support in research and development related activities. Companies working in the manufacturing and service sector of china develop plans and take decisions in the light of R&D activities which are already supported by advanced information technology. Considering the requirement of R&D, China has invested 1.97 trillion yuan in 2018. Although, investment in R&D resulted in an increase of gross domestic product by 21.8% (Asiatimes.com, 2019).
Technological change:
Technology is advancing in china thus it is quite dynamic. Changes in the technology of china result in the change of R&D process, production process, supply chain process and even marketing process.
References
Asiatimes.com. (2019). China’s R&D investment up 11.6% in 201. Retrieved from www.asiatimes.com: https://www.asiatimes.com/2019/03/article/chinas-rd-investment-up-11-6-in-2018/
Li, W., & Yu, S. (2017). China tax incentives for advanced technology service enterprises rolled out to the entire nation: key features. Retrieved from www.dlapiper.com: https://www.dlapiper.com/en/us/insights/publications/2017/11/china-tax-incentives-for-technology-service/
Waugh, R. (2018). How China is leading the world in tech innovation (and what the West can learn from it). Retrieved from www.telegraph.co.uk: https://www.telegraph.co.uk/connect/better-business/business-solutions/china-technology-innovation/