10 Questions
What is business technology comprised of?
Hardware components and software applications
What is ICT concerned with?
Storage, retrieval, and transmission of digital data
What is the main element of technology?
The idea of change
What is an example of how ICT can be used in business?
Virtual collaboration
What is a benefit of using ICT in inventory management?
Enabling staff to access real-time stock records
What is a benefit of Automatic Teller Machines (ATMs) and Automated Banking Machines (ABMs) as mentioned in the text?
Enable customers to withdraw and deposit funds without visiting a bank
What is a primary function of E-commerce mentioned in the text?
Buying, selling, and paying for goods and services online
Which software is specifically mentioned in the text that aids in data visualization?
Microsoft PowerPoint
What is the primary purpose of Microsoft Access according to the text?
Managing and analyzing large amounts of data
How does On Line Banking benefit customers according to the text?
It allows access to accounts from various locations
Study Notes
Business Technology
- New business technology is being invented and employed by organizations to gain competitive advantage
- Business technology comprises a range of hardware components and software applications to ensure efficiency and smooth operation of daily business activities
- Business technology refers to applications of science, data, engineering, and information for business purposes, such as achieving economic and organizational goals
Role of Information Communication Technology (ICT) in Business
- ICT refers to all uses of digital technology to help individuals, businesses, and organizations use information
- ICT involves storage, retrieval, manipulation, transmission, or receipt of digital data and how these uses work together
- ICT applications include:
- Inventory management, enabling staff to access real-time stock records
- Virtual collaboration, enabling team members to work together online from different locations
- Reducing production costs, enabling more efficient production and supply chain management
Impact of Technology on Banking and Commerce
- Automatic Teller Machines (ATMs) and Automated Banking Machines (ABMs) have facilitated deposit and withdrawal of funds without needing to go into a bank
- On-line banking enables customers to access their accounts, check balances, pay utility bills, and transfer funds from home
- E-commerce (electronic commerce) enables buying, selling, and paying for goods and services online without visiting a physical store
Types of Technology Used in Business
- ICT technology used in business includes:
- Productivity tools (e.g. Microsoft Word, Microsoft Excel)
- Database software (e.g. Microsoft Access)
- Presentation software (e.g. PowerPoint, Prezi)
- Graphics software (e.g. Adobe Photoshop)
- Specialist applications (e.g. Accounting QuickBooks, Computer Aided Design (CAD), and Management Information Systems (MIS))
- Digital communication technologies (e.g. Internet and Mobile)
Microsoft Productivity Tools
- Microsoft Word: a word processing software for creating official documents, resumes, letters, business cards, eBooks, and newsletters
- Microsoft Excel: an electronic spreadsheet for calculations, research, and data visualization
- Microsoft Access: an information management tool for storing and analyzing large amounts of information
Explore the concept of business technology, including hardware components, software applications, and its various applications for achieving competitive advantage. Learn how business technology contributes to the efficiency and smooth operation of daily business activities.
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