Podcast
Questions and Answers
Match the following benefits of technology with their corresponding explanations:
Match the following benefits of technology with their corresponding explanations:
Finance = Reduces defects and product returns Production = Improves speed, quality, and efficiency Staff = Enables remote work through laptops and apps Marketing = Accesses new markets through e-commerce
Match the following disadvantages of technology with their corresponding impacts:
Match the following disadvantages of technology with their corresponding impacts:
Finance = Requires capital for new technology Production = Need for investment in training staff Staff = Potential redundancy due to automation Communications = Risk of unencrypted files being shared
Match the following benefits of technology with their corresponding examples:
Match the following benefits of technology with their corresponding examples:
Security = Reduced physical storage of files Customers = Easier complaints via web forms Communications = Devices like mobile phones for contact Marketing = Websites promoting special offers
Match the following impacts of technology on staff with their outcomes:
Match the following impacts of technology on staff with their outcomes:
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Match the following statements about communications with their effects:
Match the following statements about communications with their effects:
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Match the following production benefits of technology with their characteristics:
Match the following production benefits of technology with their characteristics:
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Match the following technology impacts with their respective fields:
Match the following technology impacts with their respective fields:
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Match the following statements regarding marketing technology with their challenges:
Match the following statements regarding marketing technology with their challenges:
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Study Notes
Benefits of Technology for Businesses
- Finance: Computer Aided Manufacturing (CAM) can reduce defects and product returns, leading to cost savings.
- Production: Technology can increase speed, quality, and efficiency in production processes. Businesses can benefit from economies of scale and reduce costs per unit.
- Staff: Employees may have increased job satisfaction with remote work options using laptops, virtual logins, and apps like FaceTime. Efficient file sharing between staff is also possible.
- Communications: Businesses can make quicker decisions due to readily available data. Employees equipped with laptops and mobile phones are more accessible.
- Marketing: New markets can be accessed through e-commerce, and websites can promote offers and provide information. Online booking apps provide convenience for customers.
- Security: Physical storage of files is reduced, minimizing the risk of theft by employees or rivals. Less space is needed, leading to cost savings.
- Customers: Customers have convenient options for complaints through webforms or social media messaging. Technology can improve quality, service, value, and customer support. Online bookings for hotels, flights, or services like haircut appointments are available worldwide, increasing flexibility and providing quicker responses.
Disadvantages of Technology for Businesses
- Finance: Significant capital investment is required for purchasing, installing, and maintaining new technology and systems.
- Production: Businesses must invest in new machines, technology, and training for staff to operate the new equipment.
- Staff: Technology can replace some jobs, leading to potential redundancies. Training costs for staff are necessary.
- Communications: Secure file encryption and protected passwords are crucial to prevent unauthorized access to sensitive data when using email or file-sharing platforms.
- Marketing: Online advertising campaigns like Google Ads can be inefficient if not targeted correctly. Website maintenance and upkeep require financial investment.
- Security: Businesses must invest in security measures, virus protection, and data breach mitigation strategies, as failures can damage reputation and trust. Facebook lost customer trust due to data breaches.
- Customers: IT breakdowns, website crashes, or malfunctioning reservation systems can result in customer dissatisfaction, missed orders, failed bookings, and negative social media posts. This can damage a business's reputation.
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Description
This quiz explores the various ways technology impacts businesses across different sectors, including finance, production, staff management, communications, marketing, and security. It delves into how modern tools enhance efficiency, reduce costs, and improve employee satisfaction while opening new market opportunities.
