1.5.2 Technology and Business

• Information Technology (IT) improves communication, data management, and decision-making in business.


  True
• Using technology can help businesses gain a competitive advantage in the market.


  True
• Order the types of business technology based on their primary impact on business operations:

  1️⃣ Production Technology: Automates manufacturing processes

  2️⃣ Financial Technology (FinTech): Provides digital banking services

  3️⃣ Information Technology (IT): Improves data management

  4️⃣ Communication Technology: Enables remote work
• Communication Technology enables remote work
• How does Information Technology (IT) improve business processes?

  Better communication, data management
• E-commerce platforms allow direct online sales and secure transactions.


  True
• Social media facilitates two-way communication and feedback collection
• The initial cost of implementing new technology can be a significant challenge for small businesses.


  True
• Cybersecurity risks are a major concern when adopting new digital technologies.


  True
• What is the purpose of technology in business?

  Improve efficiency, productivity, competitiveness
• What does production technology automate and streamline in business?

  Manufacturing processes
• What is the primary impact of Financial Technology (FinTech) on businesses?

  Digital banking, payment processing
• How does technology improve customer experience in business?

  Better engagement, personalized service
• What are the key components of digital marketing tools?

  Social media, email campaigns, SEO
• Match the type of technology with its impact on business:

  Information Technology (IT) ↔️ Improves communication, data management, and decision-making

  Production Technology ↔️ Automates and streamlines manufacturing processes

  Communication Technology ↔️ Enables remote work, online marketing, and global collaboration

  Financial Technology (FinTech) ↔️ Provides digital banking, payment processing, and financial services
• Information Technology (IT) improves communication, data management, and decision-making
• Digital marketing tools like SEO and social media enable targeted promotions
• CRM systems personalize interactions and manage customer data
• Resistance to change from employees can reduce productivity and efficiency
• Match the strategy for managing technological change with its description:

  Employee Training ↔️ Reduces resistance to change by ensuring employees can use new technologies effectively

  Change Management ↔️ Manages organizational and cultural changes to minimize disruptions

  Cost-Benefit Analysis ↔️ Evaluates the financial and operational impacts of new technology investments
• Effective use of technology can help businesses reduce costs
• Match the type of technology with its impact on business:

  Communication Technology ↔️ Enables remote work, online marketing, global collaboration

  Financial Technology (FinTech) ↔️ Provides digital banking, payment processing, financial services

  Information Technology (IT) ↔️ Improves communication, data management, decision-making

  Production Technology ↔️ Automates and streamlines manufacturing processes
• Technology helps businesses enhance customer experience
• The impact of technology on business operations is always positive.

  False
• Digital marketing tools include social media
• Businesses can gain a competitive advantage by using technology to improve efficiency, productivity, and competitiveness.


  True
• Production Technology increases efficiency and productivity
• CRM systems enhance customer engagement and loyalty through personalization.


  True
• Effective management of technological change is crucial for realizing the full benefits of new technologies.


  True