Final answer:
Technological influences affect business by improving efficiency and productivity, enabling new business models, and intensifying competition in the global market.
Step-by-step explanation:
Technological influences affect a business in multiple ways, significantly transforming how companies operate and compete in the market. First, technology improves efficiency and productivity, allowing businesses to streamline their operations and get more done in less time. Second, it enables new business models and revenue streams, often through innovative products or services that can disrupt traditional marketplaces.
Lastly, technology intensifies competition by breaking down geographical barriers, enabling global marketplaces where consumers can easily find alternative suppliers or products. Advancements in areas like communication technologies have allowed businesses to reach customers across the world, creating a more competitive environment while also fostering new opportunities for growth and expansion.