technological developments Flashcards
1
Q
impact on business
A
- home working can be taken advantage of - removing cost of office space
- remote meetings reduce cost of travel
- communication is possible on a global scale in an instant
- staff more aware of announcements and changes through staff portals and intranets
- technology increase speed and efficiency of employees
- technology allow staff to be deployed somewhere else in the business
- productivity/ quality may decrease due to lower ability to supervise whilst working flexibly
- employees may become redundant due to positions becoming obsolete
- tech may require a substantial capital investment- impacting profits and shareholder satisfaction
2
Q
impact on customers
A
- shops without cashiers- minimises social contact which could be considered social trend of young people choosing to not interact
- negative impact on customers who enjoy social interaction- putting them off the business
- avoiding checkout queues speed up shopping experience making them more satisfied with experience
- apps help customers track orders- allows them to track spending and make adjustments
- more shops online so customers can compare prices to get best deal
- access to product online reviews- can see positives and negatives so can see if their needs will be met with the product
- online retailers can recommend products based on shopping habits - needs met as personalised experience
3
Q
developments in information and communication technology
A
- video conferencing
- AI
- EPOS
- simulation software
- tablets
- internet banking
- mobile apps
- smart phones
- internet
- touch screens
- social media
4
Q
technological developments in retail
A
- app based ordering
- self scan hand scanners
- app based loyalty schemes
- contactless payment
