5.6 Technological and global issues Flashcards

(14 cards)

1
Q

Why is it important for businesses to respond to technological advancements?

A

It’s important because it will allow businesses to enhance their goods or services produced, administration and marketing strategies. If a business is to slow to adapt than they will be left behind by their competitors.

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2
Q

Define 3D printing

A

Is the production of a physical object from a digital design. These objects are commonly produced through the use of CAD software.

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3
Q

Define robotics

A

Is the engineering behind the design, construction and application or robots. Robotics today have a large influence in the production process of a good or service as it achieves the task cheaper and more precise than labour.

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4
Q

How can a business implement technology in administration?

A

They can create a smartphone application which can view live security cameras and achieve web-based conferencing.

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5
Q

Define Social media advertising (SMA)

A

Is a form of online advertising that uses social media service to deliver their message. These social media services include Facebook, Twitter and YouTube.

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6
Q

(SMA) positives

A

Inexpensive
Easy to monitor
Effective way gaining exposure

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7
Q

(SMA) disadvantages

A

The business doesn’t have control over customer reviews

It’s difficult for the business to accurately measure frequency of SMA

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8
Q

Define frequency

A

Is the measurement of the average number of time someone is exposed to the social media advertisement. It’s important a businesses is aware of this as it will indicate how effective the marketing is.

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9
Q

Define customer database

A

Is the information on existing and potential customers. This information includes personal details, previous interactions and habits.

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10
Q

What was the effect of the removal of trade barriers?

A

It has allowed Australian businesses access to a wider range of suppliers, resources, customers and competitors.

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11
Q

Define quota

A

Is the restriction of the number of imports from overseas. This restricts businesses from importing large sums of resources from overseas suppliers.

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12
Q

Define tariff

A

Is a tax on goods that are being imported from overseas to Australia.

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13
Q

Define exporter

A

Is a local business that manufactures goods for overseas customers. This has been achieved by many Australian farmers who sell off their goods to overseas businesses for an income.

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14
Q

Define globalisation

A

Is the process of businesses operating internationally. Businesses may begin doing so to expand.

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