Explain ways in which Improvement in technology has affected business activities indirectly/ directly.

      

Explain ways in which Improvement in technology has affected business activities indirectly/ directly.

  

Answers


Lellah
i) Computer Aided Design Systems has revolutionized product formation and testing, thus affecting the planning and design phases of many products in terms of :
• Design, technology allows ideas to be visualized, tested and quickly accepted or rejected much more quickly than if paper plans were used.
• Simulation of how the proposed products will behave under real life conditions can be done to highlight probable problem areas.
• Consequently, this advancement in technology allows products to get to the market much more quickly and may be cheaper and more reliable.
ii) Computer Aided Manufacturing : Use of computer controlled robotics and mechanized systems to perform tasks much faster than human operatives with greater consistency and accuracy . Customers benefit by getting more reliable, consistent and potentially cheapest products .
iii) Quality Assurance and Control (QA&QC): - Technology has improved methods used for testing samples taken from the production line and the capacity to detect faults during the production process .This benefits customers through reduced costs and reliability of products as fewer products will be produced with faults. This also improves the reputation and relationship of the firm with its customers
iv) JIT: Just-In-Time production system have improved the quality and reliability of materials entering into the production process . This means supplies arrive at the right time in the right amounts to enter production process.
v) Material handling - through computerized planning models known as materials requirement planning (MRP) that has improved efficiency in material handling , minimizing wastage through time, restock, transportation costs etc.
vi) Electronic commerce is any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of goods and services. Many companies have adapted Internet-based technology to internally support their electronic business strategies.
• An intranet is an Internet-based network used within the boundaries of an organization.
• Extranets, which use Internet-based technologies used to permit communication between a company and its suppliers, distributors, and other partners
Lellah answered the question on November 3, 2021 at 12:27


Next: The Function of Consumer Attitudes
Previous: Ways in which people form attitudes

View More Principles of Marketing Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions