2e technological issues

Question 1

What are technological developments?

Answer 1

Technological developments are the invention and innovation of tools that solve problems and enhance processes.

Question 2

What is productivity?

Answer 2

Productivity is the number of goods and services that are produced compared to the number of resources used in the production process.

Question 3

What are some advantages with technological developments in the areas of business, time, employees, and money?

Answer 3

Business
• Greater accuracy and precision results in a consistent level of quality which can improve a business’s reputation.
• Websites can provide consistent information for the
business, such as their prices, sales and policies.
• Businesses can easily connect, listen and respond to
customers, improving customer satisfaction.

Employee
• Removes repetitive and unsafe tasks, for employees,
enabling employees to perform more creative and
challenging tasks.

Time
• Production can run 24/7 as technology does not take breaks, holidays or become unwell.
• Businesses can save time for customer service staff by
publishing information on their website, such as their
returns policy.

Money
• Minimises the number of employees required which reduces wage costs.
• Customers can purchase a good or service online at their convenience which can increase sales.

Question 4

What are some disadvantages with technological developments in the areas of business, time, employees, and money?

Answer 4

Business
• If businesses continually replace employees with technology, they may develop a poor reputation.
• If a business does not adopt technological developments quickly, they may fall behind competitors.

Employee
• Employees may lose their jobs due to technology replacing their roles.

Time
• If technology breaks down it can halt production altogether.
• It can be time consuming to develop and maintain technology.
• Training employees on how to operate technology takes time.

Money
• Technology generally has high initial setup and maintenance costs.
• As technology is rapidly evolving, products can quickly
become obsolete. Therefore, businesses may need to spend money on researching and upgrading technology.