Technology in Business

Technology in Business

Multiple Choice

_______ is a way to increase productivity.

• Talking bad about an employee

• Technology

• Increase the price of a product

Multiple Choice

Producing a desired result without wasting time, energy, money, or other resources.​

• Efficiency

• Productivity

• Input

• Output

Multiple Choice

Producing a desired result without wasting time, energy, money, or other resources.​

• Efficiency

• Productivity

• Input

• Output

Ways in which ICT can be used to improve the efficiency of business operations

• Speed and time

• Easier storage

• Improved sharing of information 

• Automation

Speed and time 

perations can be carried out much quicker using

ICT. For example, an order can be processed and sent to a supplier very quickly.

Easier storage 

Very large quantities of data can be stored on a computer (in its ‘memory’) or in a storage server.

Improved sharing of information 

Improved sharing of information – information can be shared rapidly by many people. One example is viral marketing

Automation

which refers to using automatic systems to

operate or control processes, methods and systems, with very little or no human intervention. For example, in an automated car plant, cars are assembled on a moving production line operated by factory robots.

Benefits of Technology to business

• Reach more potential customers 

• Provide better service to customers 

• Support better relationships with key partners: key partners 

• Allow customers to better guide the business

Reach more potential customers

The term ‘reach’ in a business sense refers to

the number of customers that can be influenced by marketing and sales efforts, and the geographical spread of these customers. The business can build up relationships with potential customers by providing a lot of content on its website, not just details about its products, but additional content like general information.

Provide better service to customers –

Technology makes it possible to improve the customer experience, as businesses can interact directly and immediately with customers, answering queries and complaints.

Support better relationships with key partners

Support better relationships with key partners: key partners are the organisations that develop important relationships with a business.

This includes other businesses, government agencies and non-consumer groups. Businesses build these partnerships in order to access more and better resources, work collaboratively on a larger scale, and work more efficiently. Examples of key partners are: suppliers, other non-competing firms and partners in a joint venture.

Support better relationships with key partners

key partners are the organisations that develop important relationships with a business. This includes other businesses, government agencies and non-consumer groups. Businesses build these partnerships in order to access more and better resources, work collaboratively on a larger scale, and work more efficiently. Examples of key partners are: suppliers, other non-competing firms and partners in a joint venture.

Allow customers to better guide the business

When buying goods and services today, many customers research online to look for the best buys and are more discerning about finding the companies that best fulfil their needs.

Other benefits of technology to business 

It enables the streamlining of operations and reduction of costs. It improves efficiency, maximising profit, minimise waste.

Multiple Choice

What is ICT?

• Information Communication technology

• Integrating communication technologhy

• Information Connecting Technology

• Information communication technique

The following are ethical issues concerning ICT

• security

• Privacy

• Intellectual property infringement 

• Impact on humans 

• Distraction

 Security

Information stored in databases, in social media a communication channels and in company intranet systems is never 100 per cent safe. Company’s information can be leaked from within. It can also be ‘hacked’ from outside (when someone who is not authorised to do so gains access to and/or control over someone else’s computer or computer networks.)

Privacy

Privacy – the records of an organisation’s members and customers have traditionally been stored on paper filed. Today, most of these are held in an electronic format. Private information should be kept away from the public gaze as part of a policy of privacy. A number of countries have passed Data Protection Acts (such as Trinidad and Tobago in 2011, Antigua and Barbuda in 2013 and Bahamas in 2007). These acts are designed to protect personal data, so a company cannot disclose a person’s permission.

Intellectual property infringement

There is a large volume of content on the internet (such as information, images and films) where the copyright belongs to the person or business which created that material. To use that information requires the permissions of the copyright’s owner. Examples of intellectual property include pieces of work such as books, music, photographs and films, as well as designs for product.

Intellectual property infringement

There are many ways of infringing intellectual property rights that are illegal and unethical, for example:

·    Directly copying parts of a book or publication

·    Downloading and sharing music without paying for it

·    Using software on a network without acquiring the licence to use it

Impact on humans

Some fraudsters use the internet to con money out of people, for example by posing as a genuine trader when in fact they have nothing of value to sell. Unethical businesses can invade people’s privacy with unwanted advertising.

Distraction

The distracting effect of ICT can have a major impact on business, for example, a clerk in an accounting office may be reading about the activities of a celebrity or booking a holiday online rather than working.

Multiple Choice

What can be illegally accessed by outside resources?

• privacy issues

• reduces employee retention

• technology maintenance

• distractions

Multiple Select

Organization drawbacks

• creates distractions

• causes confusion

• poses security issues

• assists with making decisions

Multiple Select

Select the technology benefits in a workplace.

• Promotes learning anytime, anywhere

• improves malfunction

• Improves workplace communication

• saves on travel