Increasing efficiency and productivity part 2 Flashcards
(12 cards)
What are 2 types of technology used by businesses?
Robotic engineering
Computer technology
What is a pro and con of using robots?
Reduces staffing costs but may demotivate existing staff.
What is computer-aided design (CAD)?
Using a computer software to design products before they are made.
What is computer-aided manufacturing?
Using computers and machines to produce a product.
What are advantages of technology?
Improved communication
Increased productivity
What are disadvantages of technology?
High initial costs
Security risks
What is a capital intensive business?
When a business uses more machinery than workers.
What are advantages of a capital intensive business?
24/7 operation
More precise
What are disadvantages of a capital intensive business?
Less flexibility
Machines may break down
What is a labour intensive business?
When a business uses more workers than machinery.
What are advantages of a labour intensive business?
More flexibility
Low initial costs
What are disadvantages of a labour intensive business?
Risk of human error
Can’t work 24/7
