2.1 Technology

• Over the previous half-century, technology has revolutionised business.
• Businesses have moved from typewriters, filing cabinets, and posting letters to word processors, databases, and email

• Computers can often carry-out tasks much quicker than humans
• Communication is much faster (email, instant messaging, video conferencing)
• Processes can be run 24 hours a day — even without human intervention

Examples: online ordering, automated warehouses, automatic stock ordering

• A machine may be able to reduce staff numbers and improve efficiency, reducing long-term costs
• Technology is expensive to develop, buy, install, maintain, and train staff to use
• Technically-skilled staff are expensive

Examples: self-service checkouts

• Low-skilled staff can be replaced by machines
• Some jobs have become obsolete (e.g. lift operator)
• Entirely new job roles have been created (e.g. cybersecurity analyst)