1. Technological Changes
All: Understand how technological changes have impacted upon businesses
Most: ExpLain how business have adapted to the pressures of technological changes in society

2. Technological Factors
Computers, software and machinery
New innovative processes in sales, distribution and delivery services

3. Technological Changes to Production / operations: EPOS & EFTPOS
Electronic Point of Sale – Barcode - Records the product electronically - Lots of information about the product - Record stock levels and sales
Electronic Funds Transfer at Point of Sale - EFT (Electronic Funds Transfer) makes payments between account holders via a debit or credit card.
BACS (Bankers Automated Clearing System) used to pay employees money into their accounts and set up Direct Debits.
Improvement the transference of money

4. Technological Changes to Production / operations: CAD / CAM / CIM
Computer Aided Design - Enhances design of products - Easily allows modifications of designs and products – Prototypes can be put through simulations
Computer Aided Manufacture - Enables a product to be designed on the screen and manufactured through the computerised system
Computer Integrated Manufacturing - This combines CAD & CAM. Enables increased efficiency of the production process. - Production can quickly be stopped and started - Production can be modified.
Advances in manufacturing and production – 3D printing

5. Global Connectivity
Use of internet has become a social movement – utility – ‘ a human need’
Increased communications for isolated communities to allow access to worldwide markets.
Changed business working practices – employment hours / ‘business 24/7’
Consumers not restricted to one local marketplace or opening hours

6. Social networking Social Networking Increased marketing profiling
Cheap marketing
Access to consumers in their home environment
Access to customers friends and family – networks
Data Mining – the ability to track interactions and patterns of consumers and identify trends allows decisions to be made that are individually customer focused

7. Business responses
The adoption of technology has changed the way business operates
- disruptive technology
Creates innovation and progression in industry achieving efficiency and productivity.
Technology creating new industries – sunrise industries
Technology leading to the collapse of traditional industries and jobs – sunset industries