Evaluate the effect of the technological change on the business Essay

Evaluate the effect of the technological change on the business environment of ''TOYOTA IN THE EU'' - Essay Example Notably, technological environment is interlinked with other attributes of an economic environment, such as regulatory policies, GDP growth rate and demand of national as well as international market. These components have been recognised to be changing in the European economic environment. For instance, technological environment of the European Union (EU) has been noticed to favour nanotechnology and communication technology rather than other technological innovations. Consequently, this shall have a great impact on the performance of businesses which are entirely based on the technological environment, e.g. Toyota. With this concern, objectives of the paper shall be to assess various changes occurring in technological environment of the EU economy and its impact on the performance and/or organisational operations of Toyota in EU. The discussion of the paper will be thereby focussed on identifying opportunities and challenges which are likely to be witnessed by the company due to th e technological change in its business environment. Subsequently, the paper shall also intend to recommend few significant measures for the company. 2.0. Changes in Technological Environment of EU In modern day perspective, economic environment and its components possess a crucial role in influencing the growth of an economy. Few major components of economical environment of an economy are its political, economical, social and technological environment. Most economies, along with the EU have become largely depended on its technological growth which defines environmental aspect as one of the most crucial phenomenon of 21st century. Evidences reveal that technological environment of the EU is changing rapidly with a strong influence on social and economical environment at large. For instance, the member countries which are part of the European Union, such as Denmark, Germany and Poland are recognised to be largely depended on coal industry. Consequently, these economies release higher amount of greenhouse gases and generate larger amount of heat than other economies in the union. On the contrary, technological trends of the union are recognised to be focussed on NBIC technology, i.e. biotechnology, nanotechnology, information and communication technology and cognitive science. This forced the countries to set up end-of-pipe technologies, which in turn shall reduce hazardous impact of technological development on natural environment of the union (Eurostat, 2010). Another major trend of the technological environment of the European Union was the enforcement of tax on NOx in Sweden and similar taxation policies on technological practices which are harmful for environment in other countries. Remarkably, almost 7% of technology based firms of Sweden initiated to imply the available ‘abatement technologies’ in 1992 and one year later, number of firms using these technologies increased to 62%. Thus, the taxation policies also had a great influence on busin ess sector of the economy (OECD, 2010). With a growing concern of eco-friendly technology, regulatory framework of the union is also promoting eco-technology and innovations. Due to this fact, most technology based companies are tending to incorporate renewable technologies in their organisational operations. Governing bodies of the union also enforced

Budgeting Essay Example | Topics and Well Written Essays - 750 words - 2

Budgeting - Essay Example Robert Worley, a criminal justice professor at Texas pointed out that cutting prison’s amenities would have staggering impacts on the way everything would run in the prison system (Jennings, 2011). Based on the report Worley emphasized that a well fed and inmate that is happy for instance is the one that would have more positive drive to cooperate, making it easy on the part of the prison administrator to manage everything as smooth as possible. The federal government and specifically the states wrestle with the country’s challenging economic times and the criminal justice system has evidently struggled to create the necessary adjustment, so as not to compromise the standard quality service in ensuring the maximum safety of the society (Justice Policy Institute, 2013). One particular initiative in order to maximize the chance of survival is to consider allocating the right budget plan for the associated cost of incarceration. Policies are trying to balance everything, c reating a way and meeting halfway the relevant needs of every concern. Although it is not an assurance that all needs will be well considered, the government is trying to create the most efficient way on how to implement the allocated budget for the prison system without trying to create a high value for discontentment. The above report is of important consideration because it concerns many significant issues. One particular point is the issue about savings and the associated changes with this initiative. This means the government has to understand the value of sacrifice and the advantages and disadvantages linked up with it. It is a matter of understanding whether the associated costs would be far below the advantages to be generated. In the present time by which the US economic standing is currently recuperating, it is definitely hard to keep everything in order just as the way when everything from the past would run smoothly for everyone. Another significant concern is the idea o n how to implement the budget without creating a substantial impact on the entire prison system in Texas. This is a way too hard to employ as some prison experts and advocates would try to promote the idea of humanitarian cause. For instance, Worley tries to point out the idea of small changes and turnover concerns. In issues like this, it is therefore important to come up with a remarkable basis and to weigh things as remarkably as possible for the benefit of everyone and not only for the chosen few. The issue of budget cuts in the prison system is very controversial as there are other relevant issues that could relate in it that in the long run would also create some necessary impacts on the society. The article tries to conclude the report by showing the amount already set up for budget implementation and the associated savings that were generated so far. In other words, the author tried to showcase both sides of the coin and fairly have given the readers the opportunity to asses s the government’s prevailing initiative concerning the associated financial management in the prison system particularly in the state of Texas. Furthermore, the readers would have a better way to grasp the relationships between the small changes and turnover concerns. The author was trying to give us a clear perspective so as to direct us to the appropriate and necessary things to do. The ongoing move to go for budget cuts in th