Technological developments

What can improvements in technology result in (4)

- Improved speed and efficiency
- Improved quality by reducing human error
- Reduced waste due to more precise measurements
- Improved health and safety of employees

Six Strategies related to Tech development

- Automated production lines
- Robotics
- Computer-aided design
- Computer-aided manufacturing techniques
- Artificial Intelligence
- Online Services

Automated Production Lines

Machinery and equipment arranged in sequence, adding components at each step. The process is computer-controlled, monitored and maintained by humans.

Strengths of Automated Production Lines (4)

- Produce at a faster rate, increasing productivity
- More precise and accurate
- Reduced costs due to lack of human labour
- Can operate for prolonged periods of time due to no labour

Weaknesses of Automated Production Lines

- High Setup cost
- Costly to maintain, repair and replace
- Loss of Human labour, worsening CSR

Robotics (2)

- Highly specialised form of technology that can complete complex tasks
- works longer than human labour and do not need to be paid wages

Strengths of Robotics (3)

- Improved efficiency relative to human labour
- Higher level of accuracy and safety, minimising defects
- Can perform certain tasks that human labour can't

Weaknesses of Robotics

- High setup costs
- Costly to repair, maintain and replace
- Loss of Human labour, worsening CSR

computer-aided design (CAD)

A computerised design tool used to create product possibilities, calculating materials used and time taken

Strengths of CAD (3)

- Provides info regarding the cost and time taken, which assists in planning
- Designs can be easily shared throughout the business
- Redesigns and adjustments can occur quickly

Weaknesses of CAD

- High set up costs
- Costs and time taken to train employees on using new software
- Loss of Human labour, worsening CSR

Computer-Aided Manufacturing

the use of software to direct and control manufacturing processes

Strengths of CAM

- Produces products at a faster rate
- Minimise defects and errors
- Higher quality products

Weaknesses of CAM (3)

- High set up costs
- Software can crash and be unreliable
- Loss of Human labour, wosening CSR

Artificial Intelligence

Ability of a computer to simulate problem solving capacities of a human using programmed algorithms

Examples of AI

- Chatbots on websites to answer commonly asked questions
- Grammar Autocorrect

Strengths of AI

- Staff can focus on core business operations
- Can work for prolonged periods of time

Weaknesses of AI

- Highset up costs
- Potentially Inhuman and annoying experiences for customers
- Loss of Human labour, wosering CSR

Online Services

Internet content allowing a business to interact with its customers, suppliers and employees

Ways online services can be used by a business

- Selling goods and services on an online store
- Market research through social media
- More efficient payment methods such as Paypal

Strengths of Online Services (3)

- Can be used to ensure communication with customers and suppliers
- Accessing a worldwide market can increase sales
- Gaining customer feedback through reviews and surveys

Weaknesses of Online Services (3)

- High Setup Costs
- Operating websites requires a team of staff which can divert time away from the core business
- Websites can crash and go down resulting in lost sales