Final answer:
a) Social. b) Cultural. c) Technological. d) Political. A firm must consider social, cultural, technological, and political changes to avoid obsolescence and promote innovation.
Step-by-step explanation:
The type of changes crucial for a firm to consider in order to avoid obsolescence and promote innovation include social, cultural, technological, and political changes.
Social changes refer to shifts in society's norms, values, and behaviors. For example, changes in consumer preferences or demographics can greatly influence the industry.
Cultural changes involve changes in the beliefs, customs, and habits of a society. For instance, changes in cultural trends or attitudes towards certain products or services can impact the industry.
Technological changes pertain to advancements in technology. These can range from new inventions to improvements in existing technology. Technological changes can disrupt industries by introducing more efficient ways of producing or delivering products or services.
Political changes involve shifts in government policies and regulations. For example, changes in taxation or trade policies can have a significant impact on businesses and industries.