Developments in technology lead to new products and services and improve how they are produced and delivered to the end user. Innovations can create entirely new industries and alter the boundaries of existing industries. Technological developments and trends include genetic engineering, Internet technology, computer-aided design/computer-aided manufacturing (CAD/CAM), research in artificial and exotic materials, and, on the downside, pollution and global warming. Petroleum and primary metals industries spend significantly to reduce their pollution. Engineering and consulting firms that work with polluting industries derive financial benefits from solving such problems.
The Global Segment
More firms are expanding their operations and market reach beyond the borders of their â€œhomeâ€ country. Globalization provides both opportunities to access larger potential markets and a broad base of production factors such as raw materials, labor, skilled managers, and technical professionals. However, such endeavors also carry many political, social, and economic risks. Examples of key elements include currency exchange rates, increasing global trade and international production, outsourcing and off-shoring, trade agreements among regional blocs (e.g., North American Free Trade Agreement, European Union), and the World Trade Organization (lowering of tariffs). As an example of the impact of globalization, increases in trade across national boundaries also provide benefits to air cargo and shipping industries but have a minimal impact on service industries such as bookkeeping and routine medical services.
Relationships among Elements of the General Environment
In our discussion of the general environment, we see many relationships among the various elements. For example, a demographic trend in the United States, the aging of the population, has important implications for the economic segment (in terms of tax policies to provide benefits to increasing numbers of older citizens). Another example is the emergence of information technology as a means to increase the rate of productivity gains in the United States and other developed countries. Such use of IT results in lower inflation (an important element of the economic segment) and helps offset costs associated with higher labor rates. The effects of a trend or event in the general environment vary across industries. Governmental legislation (political/legal) to permit the importation of prescription drugs from foreign countries is a very positive development for drugstores but a very negative event for U.S. drug manufacturers.
PLEASE ANSWER THE FOLLOWING QUESTIONS: ANY REFERENCES/SOURCES CAN BE FROM THE INTERNET. NO WIKI
What factors in the socio-cultural segment can significantly impact the Electronics Stores Industry (NAICS 443142)? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the industry? Please list any references you found to support your findings following APA format.
What factors in the technological segment can significantly impact the Electronics Stores Industry (NAICS 443142)? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the industry? Please list any references you found to support your findings following APA format.
What factors in the global segment can significantly impact the Electronics Stores Industry (NAICS 443142)? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the industry? Please list any references you found to support your findings following APA format.
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