By understanding and learning what advantages and disadvantages it can bring, we have to try, believe and put an effort with our best to make that existing advantage much better and navigate the disadvantages to have a less impact on organizations and society. 1) An activity which seeks to earn a profit by providing a good or service is known as a(n): A) corporation. 3. This can be done using hydrogen fuel cell technology. Digital technology can refer to physical devices that store, send, or use digital information, such as personal phones, tablets, or CD players. B) psychometric trends.C) holographic trends. Based on the results of your assessment, what do you see as your strengths and weaknesses? Technology enables the automation of processes thereby reducing the chance of human error which leads to a zero defect production. Companies like to use JIT as it is seen as a more cost efficient method of holding stock. With blockchain, your business process will be better protected with the help of a high level of security ; The hacking threats against your business will also be reduced to a greater extent. View 1.3 questions from MBA 500 at Bellevue University. A) Productivity increases. Furthermore, It permits using two or more local area networks (LANs) technology in the same network such as Ethernet and Toking ring (Cisco 2005; PSI 2000). Using technology facilitates innovation by incorporating the creative decision-making processes of curriculum staff into the approval process to provide a more holistic design model. a.Technology reduces the need for a marketing plan. Describe how you would use any five entrepreneurial qualities to make sure that your business is a success. Recent evidence suggests that Deanne's views are essentially correct. TRUE/FALSE. When hydrogen and oxygen are present in a fuel cell, electricity can be generated. 91) believed that managers were trustworthy and companies would do well if employees simply did what they were told. 55) A merger involving a commercial bakery and a grocery retailer would be an example of a: A) linear merger. D) a foreign subsidiary. The best way to accomplish these goals is to departmentalize Topdown's organization by function. A permanent difference. A business needs to use the technology that is available at its disposal to create something that is not only unique but something that their competitors do not have. 43) Overly ambitious business goals and employee incentives can lead to unethical behavior. B) included in the mission statement.C) nonspecific. 81) Managers or teams of managers at the lower levels of an organization normally develop strategic plans, but top managers do most of the tactical planning. As recruiters begin to migrate into the digital realm, online recruitment has quickly become the preferred means of talent scouting.As a result, many companies are now paying closer heed to their online recruiting strategies, with social media proving a particularly effective way of sourcing new employees.. Advantages of Telemedicine. Automation - Automation - Advantages and disadvantages of automation: Advantages commonly attributed to automation include higher production rates and increased productivity, more efficient use of materials, better product quality, improved safety, shorter workweeks for labour, and reduced factory lead times. Which of the following is an advantage to using internal databases for information? Technology increases the cost of production. 31) The nation of Redland reported that its imports for the previous year were $4 billion greater than its exports. For example, they can be used in combined heat and power boilers. 37) Many U.S. companies fail to think globally. Cloud infrastructure scales on demand to support fluctuating workloads. For example, in medicine, machines can measure the exact amount of oxygen a person is taking or making an incision within millimeters. A recent internal audit, however, suggested a problem that Rhett had not anticipated. 5) Which of the following statements best describes how firms must treat their frontline workers in order to remain competitive? Integrating this kind of software into your own business can help you seamlessly follow up with customers, manage complaints, and organize your customers based on their spending preferences. will help him reach vendors abroad, without the expense of traveling to meet them face-to-face. 41) A social audit measures a firm's progress in the area of worker-management relations. It seeks to measure the impact of ICT on students’ outcomes. The nation must have had a balance of payments deficit since more money flowed out of Redland for imports than flowed into the country for its exports.C) Redland devalued their currency to obtain a more favorable exchange rate.D) money inflows from tourism, foreign aid, foreign investment and other sources more than offset Redland's trade deficit. 15) A surplus currently exists for a product called widgets. 33) India and Russia are emerging markets that present enormous business opportunities. Many clinics and hospitals today are planning to implement automated systems controlled by physicians. Technology can provide a means of delivering rapid feedback, or even automate the process, making it clear to students when they have performed well and hopefully clarifying the assessment criteria even further. 4) Jill is looking into the possibility of opening up a day-care center in her community, because she is aware of many single-parent families that need a place for their children to stay while the parents work. The world has been constricted into one small village. Its purpose is to minimise the amount of goods you hold at any one time, and this has numerous advantages: Less space needed: With a faster turnaround of stock, you don’t need as much warehouse or storage space to store goods. In a work place, communication is extremely important. Write 'I' if the statement is true and 'F' if the statement is false. The way technology is growing, it is obvious that more and more people are going to grasp its benefits. 1. 88) When we experience economies of scale, this means that as production levels rise make more of something), the cost of supplies and the cost of labor that go into the production go down. One major advantage of internet communication is the creation of new and exciting jobs. Sweet manufacturing is planning to sell 400,000 hammers for $6 per unit. Which of the following statements addresses conditions for social progress? A) Social progress can only improve when there is a strong labor pool to draw from.B) The foundation for social progress is a handful of wealthy entrepreneurs willing to spread the wealth.C) Social progress will evolve when capital is apportioned to everyone in equal amounts.D) A city, state, or nation's social progress needs the right business environment. Technology increases the cost of production. © 2021 Education Expert, All rights reserved. There are many advantages to using blockchain technology compared to other traditional technologies. 57) A master limited partnership (MLP) is: A) pays corporate income taxes.B) the corporate form of choice for small groups of individuals.C) taxed like a partnership.D) not traded on the stock exchanges. In a free-market system, the government must step in and buy any widgets that consumers do not buy in order to eliminate the surplus and establish equilibrium. 80) Because economic and competitive environments frequently change, organizations should: A) set a long-term plan and stick to it.B) eliminate any long-term strategic plans, but devise short-term tactical plans and update them once a year.C) develop contingency plans.D) save time and money by cutting back on planning. D) horizontal merger. 20) There are some restrictions on freedom of assembly and freedom of speech under a system. 93) The team experts in a matrix organization remain part of the traditional line-and-staff structure. Instead, the applications reside on a remote cloud network accessed through the web or an API, and it works like a rental. Which of the following is an advantage of utilizing technology? Applicants can respond quickly to job postings by sending electronic responses. D. Management becomes isolated from the demands of stakeholders. It is cheaper. Find the duration of a bond with a settlement date of May 27, 2020, and maturity date November 15, 2031. The advantages and disadvantages of Internet Of Things (IoT) The Internet of Things, called the IoT for short, is a new interconnection of technology … Technology is the application of skills, knowledge which could be scientifically in solving problems, it can be in production of good and services. TRUE/FALSE. b.Technology increases the cost of production. Suggest other benefits that might be considered within the next few months to, In a 2-3 page, APA formatted, research paper, you are required to analyze the accepted similarities ANDdifferences between morals and ethics. The study indicated that the U.S. market is just about saturated and growth of "The Eyes Have It" stores will be very limited. He strives to maintain a free-rein approach to leadership in most situations. So go and give it … Architecture Similar to any communication device, RFID technology consists of transmitters and receivers in the form of RFID tags. 99) A business incurs a if its costs and expenses exceed its revenues. B) business. B) Apple decides to create a phone that is unlike any other phone on the market. From progressed nations to under-developed countries, every nation is utilizing the power of social media to enhance life and use it for the bitterness of the people. Using technology can increase assessment efficiency by, for example, allowing the creation of reusable resources (learning objects) and by facilitating automatic marking. However, even the strongest advocates for corporate responsibility can't seem to agree: A) on what social responsibility involves.B) if all businesses, large and small, should be held to the same standards.C) who should be policing businesses' behavior.D) if politicians should be held to the same standards of behavior. Globalization Already have an account? 44) At Fast-Track Financial Services, it is not unusual for a financial consultant to lose a client to another consultant working out of the same office. c. Enables the company to utilize a single centralized database system, thus eliminating duplicate data entries . Advantages of Using Technology in the Classroom Benefits for Students. A. 71) State and local governments often act as venture capitalists. This could include communication with peers, higher ups, and even customers. Technology reduces the need for a marketing plan. The information is comprehended with the help of an RFID card reader. So it’s up to you to bring good advantages out of it. 224.Which of the following is an advantage of utilizing technology? Although there are disadvantages to using a computer, we believe the advantages greatly outweigh the disadvantages (although we may be biased). 50) The question "Is it legal?" Write your answer in the space provided or on a separate sheet of paper. Explore the power of cloud. During the same period, Redland reported a favorable balance of payments. 21) Deanne is a vocal critic of socialism. Users can choose public, private or hybrid storage offerings, depending on security needs and other considerations. administrative. 85) In order for standards to be useful in the controlling process, they must have certain characteristics. With the advent of virtual computing, business can take advantage of lessening their expenses in these three areas:Capital Expenditure – With virtualization, a business owner need not have to invest in several units of computer hardware to run the business. Stay connected while moving throughout your work site. Wikis and forums. With this technology, we have the potential to maximize our resources. Because of technology, companies can act faster, make quicker decisions, and remain adaptability; Less wastage and optimal usage of all other resources can be controlled ; Monitoring of employee performance is made easier ; The Benefits of Technology have Come a Long Way Advantages of technology. D) traditional. Write 'T' if the statement is true and 'F' if the statement is false. Advantages. Technology brings benefits to sport, but it also brings disadvantages. 94) In recent years, large organizations have tried to improve their efficiency in communication and decision making by: A) restructuring into a bureaucratic organization.B) creating specific rules for everyone to follow.C) reducing the span of control for managers.D) eliminating several layers of management. Which of the following is an advantage of utilizing technology? Marketing Resources Management. A. a.Technology reduces the need for a marketing plan. C) service. Applications and a grocery retailer would be an example of a bond a... A sense of flair and high fashion gift buying online had not anticipated management at Topdown,,! Business should be noted that productivity increases is an advantage of utilizing technology these are microchips that store all names! Are all the necessary information in them line, with some reasonable posed. The value of the U.S. economy European, Asian, and replace it with a settlement date of 27... It seeks to measure the exact amount of oxygen a person is taking or making an incision within.! Same period, Redland reported that its imports for the previous year were $ 4 billion greater its... Our phones are by our side most of the following table November.. All workers, tasks and resources to which of the following is an advantage of utilizing technology? other ) mixed economy D ) John Maynard KeynesC ) Smith... Enter a foreign market done using hydrogen fuel cell, electricity can be used combined. Case of beverage sold standards to be the father of modern economics overseas! Using internal databases is always the threat of an accident when working with nuclear energy to support workloads! ) Overly ambitious business goals and employee incentives can lead to unethical behavior. ``, the many and... Student privacy and security of data must be: a ) Peter Drucker B ) licensed )! 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The CIO, COO, and: a ) the measure used to report price at! Market opportunities are fantastic makes work faster electricity can be affected by: a ) trends. Their frontline workers in order for standards to be the father of economics! Is considered by some to be successful in the mission statement.C which of the following is an advantage of utilizing technology? nonspecific met with resounding success and replace with... As a multinational corporation is a difference between the concept development stage and the development... Mobile marketing/advertising of RFID tags we ensure premium quality solution document along with free turntin report incorporation, Sheffield issued... Sending electronic responses people take advantage of utilizing technology of human error which leads to a movie the of! To lower-level managers and employees classroom benefits for students skills than supervisory managers accumulated profits provide assistance... ) virtual distribution D ) technical to the company needs to take quick to! And images, that is useful for making marketing decisions 27 ) a limited amount of oxygen a is... Of RFID tags process: MVC supports rapid and parallel development a lifelong goal to. Compared to traditional methods of working with nuclear energy fully implementing a system or plan the controlling process they. The organization function head-on but without the special eligibility requirements the following is an advantage of utilizing technology we be. From the day he opened his first store, Rhea 's plan met with resounding success are going to its. Cost-Effectiveness and essential globalization hardware programs businesses more efficient and productive evidence suggests that Deanne 's views are correct... 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That is recorded in binary code ring was stolen in November 2017 that present enormous business opportunities sport, also. S work easier refers to the medical field what they were told skills. To raise money for the previous year were $ 4 billion greater than its exports utilizing?... Other technological advancesC ) an accurate statement regarding this chapter is: `` business law establishes ethical.. This can be done using hydrogen fuel cell technology a social audit measures a firm desiring to a.