business ,technology

Do Now Activity

  • Instruction: Complete the task regarding technology usage today.

  • Duration: Complete in 5-10 minutes.

  • Requirement: List all different types of technology used today and state their purposes.

  • Environment: Maintain silence while completing the task.

How Technology Impacts a Firm

Chapter 87 Overview

  1. Usage of New Technology by Businesses
       - Information Technology (IT): Utilization in various business operations.
       - Computer-Aided Design (CAD): Advanced design processes using software.
       - Computer-Aided Manufacturing (CAM): Software to control machines in production.
       - Robotics: Use of machines to enhance production capabilities.

  2. Evaluating Impact on Stakeholders
       - Assess how new technologies affect different stakeholders within a business, such as employees, customers, and shareholders.

  3. Importance of Technology in Operations
       - Analyze how technology contributes to the efficiency and effectiveness of business operations.

Importance of Technology in Business Models

  • Objective: Reflect on the significance of technology while watching assigned videos about its applications in various business models.

Case Study: Pizza Delivery Robots

  • Description: Robotics being tested for pizza delivery.

  • Current Status: 150 delivery robots, with 20 deployed in London.

  • Challenges: Logistical issues affecting delivery reliability.

  • Consideration: Will robotic deliveries replace human interactions?

Case Study: Automation in Cadbury's Mondelez International

  • Background: Mondelez acquired Cadbury for £11 billion.

  • Stakeholder Concerns: Initial fears about job losses among stakeholders.

  • Outcome: Successful integration of automation leading to productivity increase.

  • Production Capacity: New line produces 1 million bars/day, highlighting efficiency.

  • Investment: £75 million capital expenditure focused on automation for enhanced competitiveness.

Case Study: BMW Manufacturing

  • Overview: Examination of a BMW factory producing 1,400 vehicles per day.

  • Human vs. Robot Roles:
       - Robots: 500 robots performing various manufacturing tasks.
       - Human Workers: 450 employees collaborating with robots.

  • Question: What specific roles do humans have compared to robots in this setup?

Key Technologies in Modern Production

  • Artificial Intelligence (AI): Enhancing automation and decision-making.

  • Computer-Aided Design (CAD): Streamlining design processes.

  • Computer Modelling: Using data to create physical models.

  • Technology: General technological integration within operations.

  • Robotics: Employing machines to perform tasks.

  • Information Technology (IT): All encompassing technological functions in business.

  • Computer-Aided Manufacturing (CAM): Automating the manufacturing process.

Computer-Aided Design (CAD)

  • Functionality: Generates, stores, and utilizes computer graphics for design.

  • Primary Users: Design engineers.

  • Advantages:
      - Reduces time from design conception to production.
      - Allows quicker market entry, enhancing competitiveness.

Computer-Aided Manufacturing (CAM)

  • Definition: Automation of manufacturing using software and computer-controlled machinery.

  • Applications: Used in various industries including automotive and food processing.

  • Benefits:
      - Reduces labor costs by minimizing the number of staff required.
      - Enhances production efficiency by programming machines to optimize output.

Computer Modelling

  • Explanation: Utilizing computers to create realistic models of products.

  • Benefits:
      - Enables various 'what if' scenarios to optimize products.
      - Improves production efficiency through enhanced planning.

Robotics

  • Definition: Machines that perform tasks autonomously or semi-autonomously.

  • Characteristics:
      - Capability to work continuously without rest.
      - Higher precision compared to manual labor reducing waste and errors.

Information Technology (IT)

  • Scope: Encompasses everything from simple tasks (e.g., letter writing) to complex functions (e.g., database management).

  • Marketing Role: Effective use of IT enhances marketing strategies.

  • Customer Service: Communication technology improves customer interactions and satisfaction.

  • Stakeholder Perception: Advanced technology fosters a positive image among stakeholders, aiding competitive advantage.

Technology Backlash Discussion

  • Source: Reference to iPlayer episode "Al Confidential (Episode 2) - Waymo".

  • Time Marks: Critical content discussed from 33:45 mins and onwards at 40 mins.

Presentation Assignment

  • Objective: Choose an industry to analyze the effects of innovation and research & development.

  • Format Tips:
      - Keep slides concise with key points only. Avoid excessive text.
      - Use diagrams, facts, and statistics effectively.
      - Focus on major changes rather than every minor detail.

  • Industry Options: Car manufacturing, food production, clothing production, agriculture, etc.