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The impact of technology on business operations. - Coggle Diagram
The impact of technology on business operations.
Increases revenue
Increasing efficency
Reduces labour costs
High initial investment
cheaper in the long-term
Reduces average cost per output
Increases the efficiency
Having a faster method of communication
Increases output per unit
Better quality products
Better quality products produced
Cheaper in the long-term
Capital intensive
reduces safety risks
Less demand for unskilled labour but increased demand for skilled labour who can use technology
Less cash
Increases E commerce
Variety of goods
Exploitation of Natural Resources
Less margin for error