3.1.1a Industry and Enterprise

• New and emerging technologies: Manufacturing, Tools + Equipment, Offices, Enterprise
• Robotic automation offers significantly greater consistency, accuracy, reliability and productivity than human workers
• Automation: Robots Replace human operators to carry out repetitive tasks
• modern Factories: ALAS (access to transport, large warehouses, assembly-line, shops)
• ➡ Machines that can be controlled by computers, computer numerically controlled (CNC) machines, among others can provide flexibility when making batches of products
• Enterprise is based on effective innovation → innovation is made possible through new and emerging technologies
• Crowdfunding raises money through the internet where many many people contribute small amounts of money → this is made possible through social media
• Virtual Marketing uses social marketing to raise a brands awareness → this increases the brands visibility and the effect of their mission
• Retail can be adapted to use virtual showrooms and using augmented reality (AR) to ‘try before you buy’.
• Co-operatives are businesses that are owned and self-managed by its workers.
• Fairtrade is about better prices, decent working conditions and being fair in terms of trade for famers working in less economically developed countries.
• Mobile technology, broadband, wi-fi and tools such as video-conferencing mean that people can work from anywhere at anytime and can interact with people all over the world
• State two examples of crowd funding websites

  Kickstarter and Patreon
• What is virtual marketing?

  Virtual marketing uses social networks and websites to increase brand awareness, by getting websites or users to pass on marketing messages to other websites and users.
• The rise in online shopping has led to the trend of showrooming. What is showrooming?

  where shoppers visit shops to look at a product before buying it online at a lower price
• 1. What is a co-operative?

  A business owned and self-managed by its workers.
• What is crowd funding?

  Crowdfunding raises money for a project by using the internet to get lots of people who believe in a companies idea to contribute small amounts of money