F291

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Technology

Primary Sector

  • increased mechanisation in farming
  • extraction of oil and ores using new equipment
  • genetically modified crops

Secondary Sector

  • computer-aided-design and computer-aided-manufacture
  • safety technology used in products such as cars

Tertiary Sector

  • point of sale equipment to improve stock control and distribution
  • internet selling
  • electronic transfer of information
  • video conferencing
  • home working
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Technology 2

Opportunities:

  • greater efficiency
  • reduced costs
  • better quality control
  • shorter lead times

Threats

  • need for time consuming and expensive research
  • threat to jobs
  • employees have to be retrained
  • difficult decisions about when to invest
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Social Demographics

The UK Population:

  • population is rising
  • ageing population
  • number of young people is falling
  • more immigrants

Effects of Changing Demand

Changing Employment Patterns

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Ethics and Corporate Responsibility

Unethical Behaviour of Employees:

  • overstating expenses
  • using business equipment for personal use
  • taking time off by pretending to be ill

Unethical Behaviour of a Business:

  • paying only the minimum wage
  • providing only basic health and safety training
  • paying high rates of pay to senior managers only
  • delaying paying suppliers for as long as possible
  • not publishing full accounting information in ordere to mislead
  • dealing with countries with poor human rights
  • importing from countries where labour is exploited
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Ethics and Corporate Responsibility 2

Behaving ethically benefits:

  • Empolyees: improves motivation, attracts more employees
  • Suppliers: good relationships if payments are made promptly; more ready to respond to a last minute order
  • Local Community: business will treat them with respect
  • Business; good reputation; sales likely to increase
  • Other Benefits; good publicity; good example; encourages investment
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