Technology & Global Issues

Question 1

What is does technological issues include?

Answer 1

Technological Issues could include:

Manufacturing: 3D Printing and robotics are changing how goods are manufactured, creating opportunities for some businesses but making others obsolete (e.g. Tesla)

Administration: the owner of a business can now practically operate their business from a smart-phone – e.g. viewing live security footage, email correspondence, web-based conferencing.

Question 2

What is Customer data base

Answer 2

Customer Data-Base: is a organised collection of information on existing and potential costumers, including details such as their contact information, personal details, previous interactions with the business, buying habits and preferences.

Question 3

Why and what things should you consider

Answer 3

Why?
Allows the business to easily communicate with customers  improving customer relationships and supporting the business in providing better service  remaining in contact with customers builds loyalty and repeat business.

Things to consider:
Cost – time consuming if owner builds their own, $$ if purchased
Privacy – businesses need to consider that details are well protected from hackers
Legislation when handling personal information – Privacy Act 1988 (Cwth) governs the way that businesses can gather, use, keep sercure and disclose personal information.

Question 4

Global issues
Talk about it
Give as much details as you can about it

Answer 4

The removal of trade barriers has allowed Australian businesses access to a wider range of suppliers, resources and customers, as well as competitors.

Global Issues could include:
Supplier opportunities world-wide, but loss of control over their CSR practices
New customer markets are available for exporters
Increased competition from international businesses