Using Technology to Improve Efficiency (AQA A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
CAM definition
CAM definition
Using robots & computer-controlled machinery in production
CAD definition
CAD definition
Technology allowing businesses to design products digitally
Electronic data interchange (EDI) purpose
Electronic data interchange (EDI) purpose
Share info quickly & accurately with suppliers and customers
EPOS systems function
EPOS systems function
Record sales/prices automatically & adjust stock levels
How technology reduces unit costs
How technology reduces unit costs
Lowers cost per unit, enhancing competitiveness
Price skimming strategy
Price skimming strategy
Charging premium price when launching new high-tech products
CAM quality benefit
CAM quality benefit
Guarantees consistent quality standard across all products
Internet benefit for market access
Internet benefit for market access
Allows businesses to reach previously inaccessible markets
Capital drain from new technology
Capital drain from new technology
Significant drain on organisation's financial resources
Employee opposition to technology
Employee opposition to technology
Resistance when job security threatened by automation