Technological influence on business activity Flashcards
How can changes in technology affect businesses?
by enabling businesses to create new products
by allowing new methods of production
by changing the ways in which goods and services are bought
How is technology used in administration?
spreadsheets
databases
word processing packages
financial accounting packages
The use of technology in the workplace:
Administration
Communication
Recruitment
Stock control
Information and communications technology
the computing and communication systems that a business might use to exchange information with stakeholders.
How is technology used in communication?
Video-conferencing
Computer networks
Advertising and promotion
Website design packages
Intranet
private communication networks that are only accessible by the business’s employees
Extra-net
private communication network for selected stakeholders as well as employees
Recruitment
the process of finding and hiring new employees
How can technology be used in recruitment?
Advertising jobs
Online tests
Databases for applicants
Online interviews
Stock
raw materials that have not yet been used or products that have been made, but not sold
EPOS (electronic point of sale)
When a product is sold it is recorded electronically. The system will read the barcode on the product and adjust the stock level automatically.
How can technology be used in stock control?
Just-in-time manufacturing (JIT)
Prediction of sales
Managing suppliers and supplies
Computer-aided Design (CAD)
uses modern technology to design products
Advantages of CAD
ideas can be drawn and developed quickly
easier to design and test a range of ideas
reduces costs of design
some testing and consumer feedback can take place before mass production
designs can be viewed from all angles
Disadvantages of CAD
Computers can fail
Expensive to set up
Needs a skilled workforce
Difficult to keep up with constantly changing and improving technology
Computer-aided manufacture (CAM)
uses computers as part of the process of producing products
Advantages of CAM
Less material wastage
Fast and accurate production
Machines can run constantly on repetitive tasks
Good for flow production
Disadvantages of CAM
Computers and machines may fail
A skilled workforce of engineers is necessary
Machines need downtime to be repaired
Expensive to set up
M-commerce
is the buying and selling of products through wireless handheld devices such as smartphones
E-commerce
is the act of buying or selling a product using an electronic system such as the internet
