Technological

• What does urbanization refer to?

  Shift in population from rural to urban areas
• How can demographic changes create opportunities for businesses?

  They can lead to extra demand in new areas
• What are some changes in consumer lifestyles mentioned?

  Increased ethics in purchases and fast fashion
• What has contributed to the growth of online businesses?

  Growth of the internet and busier lifestyles
• What is migration in the context of population change?

  Movement of population between countries
• What is the impact of urban areas on the labor force?

  Urban areas have a bigger labor force
• Why is digital marketing important for online businesses?

  It focuses on reaching customers online
• What is CSR in the context of social change?

  Corporate social responsibility
• What does the shift from shareholder to stakeholder concept imply?

  Greater focus on all parties affected by business
• What is Carol's CSR pyramid?

  A model for understanding corporate social responsibility
• What does automation refer to in the context of technological change?

  Switch from labor to capital for tasks
• What is a threat posed by technological change?

  Reduced barriers to entry leading to more competition
• How has the newspaper industry been affected by technology?

  It has been disrupted by social media
• What ongoing costs are associated with keeping up with technology?

  Costs for security and data protection teams
• How can new technologies provide a competitive advantage?

  They can allow for first mover advantage
• What is the impact of technological change on competition?

  It increases competition among businesses
• How has technology improved communication in businesses?

  It allows easier communication with teams and suppliers
• What is one benefit of capital improvement due to technology?

  More choice and better quality
• What are the two types of change discussed in the material?

  Social change and technological change
• What could be a consequence of automation on labor workers?

  It may lead to industrial action and lower productivity
• What role do trade unions play in the context of automation?

  They may advocate for workers affected by automation