technology Flashcards
(26 cards)
what is social media
the online interaction that allows people and businesses to communicate and share ideas, personal info and info about products and services
what is technology
any device or object that is an application of our scientific knowledge about the world that helps us complete a task or solve a problem
name and explain IT
information technology. the equipment and techniques for managing and processing information
what is information
through well-designed IT systems and the power of computers, managers can process data into meaningful and useful info and use it for specific purposes
what is data
raw, unorganized facts that can be moved and stored
what is a database
an electronic filing system that collects and organises data and info
what are the 6 reasons to technify a business
competitive adv
creativity
organization
mobility
speedy operation
faster growth
how has IT transformed business and managerial decision making (4)
automation and efficiency
globalization and market reach
innovation and new business models
competitive adv and differentiation
explain automation and efficiency
automate repetitive tasks, increasing efficiency and productivity
explain globalisation and market reach
easily reach customers and markets worldwide, facilitate global trade and expand opportunities for businesses of all sizes
explain innovation and new business models
enables the development of new products, services and business models. this includes artificial intelligence, blockchain, and the internet of things (IoT)
explain competitive advantage and differentiation
differentiate a business from its competitors through innovative products, superior customer experiences, or operational efficiencies
what are the two risks of technology
cyber security and risk management
regulatory compliance and governance
explain cybersecurity and risk management as a risk of technology
businesses face cyber security threats such as data breaches etc. implementing robust cyber security measures protects sensitive data and maintains business continuity
explain regulatory compliance and governance as a risk of technology
technology assists businesses in complying with regulations and governance standards applicable to their industry. this includes data privacy laws, financial regulations, and industry-specific compliance requirements
what are the 6 positive effects of technology on environment
renewable energy
energy efficiency
environmental monitoring
waste management
precision agriculture
conservation
read over the descriptions of the positive effects of tech on the environment
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6 negative effects of technology on the environment
pollution
resource depletion
electronic waste
climate change
digital pollution
loss of biodiversity
read over the descriptions of the negative effects of tech on the environment
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explain the importance of green tech (sustainability and green technology)
technology is vital in promoting sustainability and reducing environmental impact. this includes renewable energy solutions, eco-friendly manufacturing processes, and digital initiatives to minimize paper usage and carbon footprint
what are the 6 effects of technology on society
communication and connectivity (globalization)
education (online learning)
work and employment (remote work)
healthcare (medical advancements)
entertainment and leisure (streaming services)
social interaction and relationships (social media)
name and explain the three ways technology challenges impacts business
- budget constraints
- decision-makers must balance adopting innovative solutions and adhering to financial constraints - stakeholder retention
- significant upfront investments in infrastructure, software, and training are requires - people behind technology
- skilled personnel are essential for maximizing the value of the technology investments
what is AI
artificial intelligence. technology that enables computers and machines to simulate human intelligence and problem-solving capabilities
explain collective learning in terms of AI
AI systems can learn collectively, drawing insights from diverse sources and benefiting from collaborative learning approaches. AI systems know what other AI systems have learnt
