Final answer:
The most challenging external environment for businesses is the political environment due to issues like trade wars and unstable regulations. The technological environment, on the other hand, is presenting significant opportunities through innovation, aiding businesses in creating new models and improving efficiency.
Step-by-step explanation:
The external environment currently presenting the most challenges for businesses is likely the political environment. This environment includes trade policies, political stability, government regulations, and geopolitics. Contemporary problems such as trade wars, fluctuating tariffs, sanctions, and shifting regulatory landscapes make it difficult for businesses to forecast and plan long-term strategies. Political relations between nations, especially during periods of tension, can lead to sudden changes in the business environment, affecting supply chains, access to markets, and the overall climate for international business.
Conversely, the technological environment may present the greatest opportunities for businesses. The rapid pace of technological innovation can lead to new business models, processes, and products. Companies that are agile and able to adapt to technological changes can outperform their competitors and tap into new markets more effectively. For example, advancements in artificial intelligence, data analytics, and communication technologies have opened up new possibilities for remote work, personalized marketing, and efficient operations.