1.5.2 Technology and business

Cards (54)

  • What is technology in a business context?
    Scientific knowledge for practical purposes
  • Social media is an example of technology that enhances communication in businesses.

    True
  • Match the business area with an example of technology used:
    Operations ↔️ Robotics
    Marketing ↔️ Social media
    Finance ↔️ Online banking
    Human Resources ↔️ Virtual training
  • What are the two broad categories of sources of technology affecting businesses?
    Internal and external
  • Government initiatives can include grants for cybersecurity compliance laws.
    True
  • Match the source of technology with its example:
    Internal Research and Development ↔️ Creating a proprietary CRM system
    External Suppliers ↔️ Purchasing SaaS accounting software
    Industry Collaborations ↔️ Joint ventures for technology development
    Government Initiatives ↔️ Cybersecurity compliance laws
  • Government initiatives include funding, grants, and regulations supporting technology adoption.
  • Match the impact of technological advancements with their examples:
    Efficiency and Productivity ↔️ Automation, robotics, ERP systems
    Communication and Collaboration ↔️ Email, video conferencing, social media
    Innovation and Competitiveness ↔️ 3D printing, artificial intelligence, e-commerce
    Data Insights and Decision-making ↔️ Business intelligence tools, data analytics, cloud computing
  • What are four key areas where technological advancements can significantly impact businesses?
    Efficiency, communication, innovation, data
  • What are some technological tools that enhance business communication?
    Email, video conferencing, social media
  • Automation, robotics, and enterprise resource planning (ERP) systems improve efficiency and productivity
  • Cloud computing has made data storage and processing more accessible and scalable
  • What are the four primary impacts of technological advancements on businesses?
    Efficiency, communication, innovation, data insights
  • Technology improves efficiency by automating and streamlining business processes
  • What is one way technology enables innovation in businesses?
    Developing new business models
  • What type of technology is used in business operations to reduce costs and increase productivity?
    Automation
  • Internal research and development involves a business's own activities to develop new technologies
  • What is an example of a government initiative that supports technology adoption in businesses?
    Cybersecurity compliance laws
  • External suppliers provide technology solutions and services to businesses.

    True
  • Enterprise resource planning (ERP) systems can integrate and optimize various business functions to reduce costs.
    True
  • Emerging technologies like 3D printing and artificial intelligence can help businesses stay competitive in the market.
  • Enterprise resource planning (ERP) systems can improve business efficiency by integrating and optimizing processes.
  • Emerging technologies like 3D printing and artificial intelligence enable businesses to develop innovative products, services, and models
  • Cryptocurrencies facilitate more secure financial transactions in businesses.
    True
  • Technology refers to the application of scientific knowledge for practical purposes.
    True
  • Business intelligence tools, data analytics, and cloud computing provide valuable insights
  • What is one challenge businesses face when implementing new technology?
    Cost of implementation
  • Technological obsolescence refers to the rapid aging of existing systems and infrastructure.
    True
  • Data privacy concerns arise from collecting and storing customer data without adherence to data protection laws.

    True
  • Providing ongoing support is a key component of effective change management strategies.
    True
  • Robust security measures, such as firewalls and encryption, help protect against cyber threats
  • Enterprise Resource Planning (ERP) systems are used to integrate and optimize business processes
  • Match the area of business with an example of technology used:
    Operations ↔️ Enterprise resource planning (ERP) systems
    Marketing ↔️ Social media platforms
    Finance ↔️ Online banking
    Human Resources ↔️ Applicant tracking systems
  • Increased reliance on technology exposes businesses to cyber threats like data breaches and hacking
  • Technological obsolescence occurs when rapid advancements make existing systems and infrastructure outdated
  • Businesses should conduct thorough assessments of their technology needs
  • Match the area of business with a technology example:
    Operations ↔️ Automation and robotics
    Marketing ↔️ Social media platforms
    Finance ↔️ Online banking systems
    Human Resources ↔️ Applicant tracking systems
  • Data analysis and business intelligence tools provide businesses with valuable insights
  • Cryptocurrency is an example of technology used in the finance area of business.

    True
  • What is an example of an external supplier providing technology solutions to a business?
    IT consulting firm