Influences on Business Unit Two Concepts

Front

New technology can enable remote meetings which can save on travel costs.

Back

How might new technology reduce business costs?

Front

Customers may reduce spending and buy cheaper alternatives, potentially increasing demand for Budget Savers' low-cost products.

Back

Outline one impact of decreasing levels of consumer income on Budget Savers supermarkets.

Front

Benefit: Access to a larger market. Drawback: Increased competition from foreign businesses.

Back

Identify one benefit and one drawback of globalisation.

Front

Tariffs – taxes placed on imports make foreign goods more expensive and less attractive to consumers.

Back

Explain one barrier to international trade.

Front

Strong Pound Imports Cheaper, Exports Dearer.

Back

What does SPICED stand for?

Front

Automation uses machines or robots to perform tasks previously done by humans, such as manufacturing or packaging.

Back

How is automation used?

Front

CAD (Computer-Aided Design) is software used to create precision drawings or models. Advantages: Accurate designs, easier to modify, saves time. Disadvantages: Expensive software and training required.

Back

What is CAD? Advantages / disadvantages.

Front

Advantages of CAM

Back

High precision, efficient, consistent quality.

Front

Disadvantages of CAM

Back

High initial cost, can lead to job losses.

Front

Benefits of technology for a business

Back

Increases efficiency, reduces long-term costs, improves communication.