Impact Of Technology Flashcards
Information and Communications Technology (ICT)
is the term used to describe the use of technology to send, receive, store, analyse, gather and communicate information
Digital Technology
is the terms used to describe the use of digital resources like computers, tablets and smartphones to create, store, manage and share information.
Uses of Technology in a Business
To communicate with customers, other businesses and staff
To train staff
To design and produce products and services
To conduct market research
To promote and sell their products online
To prepare budgets and accounts
Technologies used by a Business
Word Processing e.g Google Docs, Microsoft Word Spreadsheets e.g Google Sheets, Microsoft Excel Databases Email Internet Wi-Fi Video Conferencing Social Media Apps
Benefits of Staff:
Job vacancies and applications can be viewed and completed online.
Email can be used to communicate with staff
Training of staff can be completed online
Benefits for Market Research and Marketing:
Field research can be gathered and analysed quickly
Desk research is made easier and quicker
Products / Services can be sold online around the world
For Production:
Suppliers can be researched and contacted online ensuring businesses get the best price for materials
Digital machines can be used to produce goods & services
For Finance:
Accounts and budgets can be prepared using spreadsheets
Graphs and charts can be created to show financial information
For Administration:
Customer information can be easily stored on databases
Decision making is much faster due to ease of communication
Letters and reports can be easily written using word processing packages
Costs may increase because:
Businesses must pay a lot of money for new technologies like laptops, tablets and databases
Businesses are more at risk of being hacked and therefore must pay for expensive security packages
Businesses must pay for the design and maintenance of a website. The must also pay for the website address.
Businesses may have to pay large sums of money to repair their technology if it breaks.
Costs may decrease because:
New technologies can reduce the number of staff needed in a business
Emails can be sent out to customers and staff more quickly and cheaply than letters
Using Video Conferencing (e.g Skype) means that business do not have to pay for their staff to travel to a certain location - it can be done from their office
Opportunities of using digital technologies
Increased sales due to mass production
Allows a business to identify their target market
Improved customer service through social media and online forums
Threats of using digital technologies
Risk of technology failing
Increased risk of hacking
Increased chance of business reputation being questioned based on online comments from customers
