SA.1 New & Emerging Technologies Flashcards
What is automation
Enables repetitive tasks to be performed by mechanised assembly lines rather than by humans.
Automation & robots adv
Increased efficiency & speed of production
Accurate & consistent output
Reduced labour costs (work 24/7)
What are robots
Robots can be controlled to automatically perform series of complex movements. Used to substitute humans in hazardous env
Automation & robots disadv
Replaces workforce leading to job loss
No human input
Expensive
Place of work, manufacturing stages
Delivery depot - raw mats arrive
Production line - raw mars processed assembled into prod
Packaging & distribution - prods packaged, shipped to customers
What is enterprise
Enterprisev is the ability to identify a business opportunity, develop it & make it commercially successful.
Crowd funding (+adv)
The use of small amounts of capital from many individuals to finance a new business.
The use of websites & social media enables broad range of investors to invest in an idea, usually in return for shares should the venture succeed.
Provides platform for businesses to reach a large audience of funders
Crowd funding (disadv)
If the venture doesnt reach a funding target, any finance pledged is usualky returned to investors
If project fails, can damage company reputation
Virtual marketing
Use of websites, social media, email & digital marketing to reach wider audience to promote product
Relies on hits, clicks & likes
Ads
Cooperative
An enterprise commonly owned & run by its members.
Formed to enable group of ppl w the same business interests to have stronger voice
Fair trade org
Better prices, working conditions & fair terms of trade for farmers & workers in less economically developed countries.
Ensures companies pay a fair/sustainable prices for their produce so farmers imrpove QoL
Sustainability meaning
Protecting/maintaining needs of present w/o compromising future needs
Finite resources
Limited supply, used faster than replaced
Eg, fossil fuels, metal ores
Non-finite resources
Resources in abundant supply, replaced at same rate as used
Eg. Solar, wind
Life Cycle Assessment LCA
way for companies to assess the environmentak impacts of a product during diff stages of its life