Technological

Industries have seen many modern advances on the scientific technology, which
requires the key players within the industry to adapt to the markets that they
participate in. This has required increased investment and spending on research and
development in order to encourage innovation. This requires investors, which are
referred to as stakeholders to finance the innovation in the company. Stakeholders
are individuals or organisations that have an interest in, or some kind of stake in, the
firm’s ongoing activities. Stakeholders have a number of attributes the most
important of which are interest and power. Interest is how focused the group is on
the current strategic activity of the organisation; interest can be positive or negative.
Power is ‘the ability of individuals or groups to persuade, induce or coerce others
into following in certain courses of action’.Industry is defined not by the product’s
but by the technology it employ’s. Modern technology has increased the pace of the
industry in which companies must implement as well as keep up with these changes
to avoid becoming venerable.

As an example when we considering about MacDonald’s , it may have many

technological factors include spending on research and development which may be
relatively low due to the roll out of the franchise outlets. MacDonalds's strategy is
reliant on the growth of outlets across the world, which offer regional variations,
but also tend to operate the generic menu. MacDonalds does have a large presence
on social media including Facebook and Twitter. MacDonalds operates a

1. customer loyalty card

2. SubCard

which includes various offerings such as competitions and this provides a useful
data collection for the organization. Technology is also used to collect the
franchise fee of 8% through the use of cash register data.
Changes in technology the quality MacDonalds can offer their customers. The
brand can now showcase their full menu online. They can also provide nutritional
information about each offering, including the calories of individual meats,
veggies, and bread of their meals.

Additionally, MacDonalds can advertise their selection on social media. Many fast
food places put video ads on platforms like Facebook and Instagram. And they
converse with customers on Twitter. Answering questions and showing off new
promos was once only possible through print and commercials. Now it’s easier to
reach new audiences.

It makes it easier for customers to complain. Or leave bad reviews. This amount of
freedom for customers can be troublesome for MacDonalds. Because unhappy
customers are stereotypically the most vocal online. The anonymity of the internet
allows strangers to team up and complain.

Businesses have collapsed due to the influence of social media and consumers
before. MacDonalds has to be wary of how they manage, handle, and treat
customers when it’s so easy to destroy a company’s reputation online.