3A - Continued

Question 1

To Make A Profit

Answer 1

Implementing technology into the production process
- Reduce the number of employees required in the operation systems, which can reduce expenses associated with labor and therefore increase profit

Question 2

To Increase Market Share

Answer 2

Checking that the products produced aren’t faulty
- Can improve the quality of a business’s product, increasing customer satisfaction and the business’s proportion of sales within its industry

Question 3

To Meet Shareholder Expectations

Answer 3

Creating a website for customers to purchase goods and services online
- Increases online sales, which can lead to higher levels of profit and increase dividends

Question 4

To Fulfil A Market Need

Answer 4

Using technology to design new products
- Can design innovative products to fulfil customer needs that are currently unmet or underrepresented in the market

Question 5

To Fulfil A Social Need

Answer 5

Ensuring that any waste is recycled in the production process
- Reduce the amount of waste produced by a business, allowing it to meet the social need of environmental preservation

Question 6

To Improve Efficiency

Answer 6

Using technology to automate the production process
- Can increase a business’s productivity in terms of production speed, as well as reducing the amount of resources discarded in the production process

Question 7

To Improve Effectiveness

Answer 7

Implement strategies that improve the quality of the business’s product
- Can improve levels of customer satisfaction, which may increase the business’s sales and revenue. Increases financial performance can assist the business in achieving its objectives