Developing Technology Systems

Question 1

What is reduced costs?

Answer 1

Improving technology can make a process in a business cheaper. This can mean lower operating costs (the amount it costs to run the business) and higher profits.

Question 2

What is improved performance?

Answer 2

Developing technology can improve the performance of the business so it can function more efficiently. Processes are faster, tasks can be made easier; staff may be happier and better job satisfaction

Question 3

What is competitive advantage?

Answer 3

By developing technology systems, an organisation can create an advantage over a competitor. Making products better or faster.