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Technology is perhaps the most dynamic element of the external environment. It reshapes how businesses design, produce, market and deliver products; how they communicate with customers and employees; and how entire industries are structured. This lesson covers the technological dimension of AQA specification topic 3.7.6.
The pace of technological innovation has accelerated dramatically. It took the telephone 75 years to reach 100 million users; Instagram achieved the same milestone in two years. ChatGPT reached 100 million users in just two months after launch. This acceleration means that businesses face constant pressure to adapt — and that competitive advantages based on technology can be eroded rapidly.
Clayton Christensen (1997) distinguished between two types of technological change:
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