When Zaprogs, a start-up, used the e-wallet system to develop an application for easy cashless transactions, a majority of people completely switched to online banking. As a result, a number of organizations that relied on hard cash transactions began to lose their business. In the context of the general environment, this scenario best illustrates the effect of the _____ on organizations.
A) technological component
B) sociocultural component
C) political component
D) economic component

Question

Quizplus · Accepted Answer

The scenario demonstrates how the technological component, in this case e-wallet system, can significantly impact organizations and cause a shift towards online transactions. This shift has put pressure on businesses that rely on hard cash transactions and may cause them to lose revenue.

When Zaprogs, a Start-Up, Used the E-Wallet System to Develop