New And Emerging Technologies Flashcards
(145 cards)
What is enterprise!?
The ability to identify business opportunities and take advantage of them
What is a successful business?
They are in innovative and can adapt quickly to change
What can help businesses generate new ideas?
Being able to identify new and emerging technologies
Historically what was needed to find a new product or a new business venture?
A back loan investor was needed
What does crowdfunding offer?
It enables individuals or businesses to promote an idea on the platform.
Give an example of crowdfunding
A website/to a large audience
Advantages of using the crowdfunding solution?
People can then choose to invest money in the products that they like
How are backers, usually rewarded when using crowdfunding?
They are rewarded for that investment, usually in the form of a gift discount or share in the business
What has the increased use of the Internet lead to?
Arise a virtual marketing to reach a wider market
Give example a virtual marketing
Online advertising
Give some examples of online advertising and what dies this involve?
Social media adverts
And paper click advertising.
These involve businesses paying to appear prominently in search engine results.
What does virtual retailing allow for?
It allows shoppers to buy products online. Most businesses now have online stores and websites where customers can shop.
What is a cooperative
A business that is owned and run by its workers or members. The workers or members make the business decisions and share in the profits made.
What are cooperatives usually based around?
Are usually based around local communities, but they can also be large businesses
Give an example of a large business cooperative
Nationwide building society
What does fair trade ensure?
Farmers in lower income countries get a fair price for their products so they can provide for their families
What does fair trade also aim to improve?
Trade terms and conditions for workers
Why are fair trade items labelled?
To help customers make ethical buying choices
What does automation involve?
The use of automatic equipment in manufacturing
Why was automation first developed?
It was developed to be used on a large scale and to help meet increased demand for goods
When was automation developed?
Industrial revolution
Is automated equipment, cheap or expensive
It is expensive, but it can significantly improve productivity, enabling manufacturers to create a high-quality product quickly and cheaply
List five examples of tasks that industrial robots can be programmed to carry out
Welding
Assembling parts
Painting
Labelling
Packaging
What’s the four advantages of automation and robotics?
1.increased efficiency and productivity
2.fewer errors and greater accuracy.
3.Ltd, human input reducing labour costs
4.they can perform work that is otherwise dangerous for humans