Technological Factors - The Change, Digital Revolution

Question 1

effects of technology on business

Answer 1

• employees associate technology with unemployment and that their job is threatened for redundancy
• new technology makes it important for workers to learn new skills
• may require employees to move to different departments or work with new collegues/managers

Question 2

benefits of technological change

Answer 2

:) may bring a new increase in employment by increasing demand for the product/service

:) creates new demand among consumers

:) can have positive benefits for business morale of workforce for self-esteem and increased motivation = WILLING TO ACCEPT CHANGE IN THE FUTURE

:) need for change is least of the riskiest move of all as theyre not just doing the same thing

Question 3

implementing technological change

Answer 3

need to time it right
^^^ holds back too long then it may begin to lose markets and share and run the risk of being out of date
=== can happen when if a business wants to wait for the new technology to become cheaper or until the technology has proved how worthy it is of having

^^^ moving too soon may mean business having to pay hgiher prices and thatit becomes involved in the inevitable roubles of new equipment

need to look at where it fits into the overall business situation - need to decide if its really necessary or buying it for the sake of it

changing wont bring benefits unless the right training or organisational changein prep

may make sense for a small/new business to not invest in the new tech and use external business resources instead - the benefits arent justified the expenses required to get them

Question 4

rapid tecnological change

Answer 4

key factor in buisness world

its existance creates a situation of uncertainity as well as the possibility of dealing with a complex market - need for strategic plannign and cost-benefit analysis

shouldnt assume that new tech will always better and improve the business BUT cant ignore the possibilities it would bring improving business performance

Question 5

using computer software advantages disadvantages

Answer 5

ADVANTAGES

• faster systems
• easy storage and reduced storage costs
• easier communication
• internet has increased the availability of knowledge
• home working and off-site working is now possible
• new tech i.e. click + collect
• can analyse large amounts of data to aid business processes

DISADVANTAGES

• money needs to be spent on effective training for all involved in new systems
• public may be resistant to changes i.e. direct callers
• system breaking down can affect the whole business
• new computer technology is costly
• systems need to be carefully tested before theyre unleashed to the public
• security of the data is still a problem when storing information in computer systems

Question 6

digital revolution

Answer 6

encompasses the shift from mechanical technology to digital technology

• cost savings as communications and data access is easier
• use of the ‘cloud’ has advanced searches and access to services in the business environment

Question 7

impact on businesses because of the digital revolution

Answer 7

• the type of buisness
• the business market
• the level or amount of digital technology
• the type of consumer
• business budget to get the technology

Question 8

the digital revolution evidence

Answer 8

• use of robotics and digital control systems in production
• mobile phones, video calls, emailing and texting for communication
• now widespread intenret use
• digital storage methods i.e. patent records in GP surgeries

Question 9

digital revolution opportunities

Answer 9

• cost savings as information is more readily available and accessed quickly
• increased range of website access
• better access to a wider market of potential customers
• market research can be carrieres out using a larger samples for responses
• customer feedback can be better accessed so customer convienence to respond
• more employment opportunities in this particular economic sector

Question 10

digital revolution threats

Answer 10

• relatively new and constantly changing and improving at a fast rate so to keep up with technology may be expensive
• increased access to information allows consumers to make informed choices so businesses need to be more competitive
• adverse publicity will travel more quickly so business goodwill will be damaged
• buisnesses have to spend large sums of money installing protective systems to save fraudulent acitivity on their sites/systems
• loss of jobs in certain sectors of the economy
• both customers and employees may not want to keep up with the digital revolution
• training employees which adds to costs, buisness needing to spend money on educating its customers in the use of digital technology