New technology Flashcards
Define technological change
Changes in the range, applications and efficiency of the technology now available to businesses and other important stakeholders
What are some examples of new technology being used in businesses
Robots
Computer aided design (CAD)
Computer aided manufacturing (CAM)
ICT systems
What are the roles of robots in businesses
Used on assembly and production lines and for repetitive tasks with good accuracy
What is the role of Computer aided design
Allows businesses to create accurate models of their products which can be easily, cheaply and quickly altered
What is the role of Computer aided manufacturing
Works alongside CAD feeding information into production machines, automating the process
What are the roles of ICT in business
Allows for marketing and data collection (Wi-Fi)
Internet has enabled e-commerce and m-commerce
What are the benefits of technology
- Reduced unit costs of production
- Improved quality and reliability
- Increased productivity as robots are quicker at some tasks
- Reduces waste as there’s less chance of error
What are the benefits of new technology
- Faster innovations through CAD/CAM
- New jobs in tech
- Improvements in communication and organisation
What are the costs of new technology
- Hugely expensive to implement
- Staff may require training
- Labour relations may suffer
- Potential for unemployment
