Technological Environment (AQA A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Technology as double-edged sword means?
Technology as double-edged sword means?
Creates opportunities AND challenges/risks
What is mass customisation?
What is mass customisation?
Adapting products to individual preferences at large scale
How does tech affect barriers to entry?
How does tech affect barriers to entry?
Reduces them, making markets easier to enter
Key e-commerce benefit for market reach?
Key e-commerce benefit for market reach?
Wider market access and 24/7 selling availability
What is risk of obsolescence?
What is risk of obsolescence?
Technology becomes outdated before investment recovered
E-commerce growth impact on physical shops?
E-commerce growth impact on physical shops?
Forces store closures and job losses
Risk of over-reliance on digital tech?
Risk of over-reliance on digital tech?
Decreased productivity when systems break down
What is ERP software?
What is ERP software?
Enterprise Resource Planning - centralises departmental data
ERP software drawback?
ERP software drawback?
Encourages decisions without consulting specialists
CAD and 3D printing benefits?
CAD and 3D printing benefits?
Reduce costs, improve efficiency, rapid prototyping