CHAPTER SUMMARY • Technology is knowledge put to practical use to make a task easier to perform.
• Digital technology describes the electronic tools and resources that create, store and manage information.
• Hardware is a physical device (e.g. a mobile phone, a computer or a tablet).
• Software allows a device to perform certain tasks (e.g. Microsoft Excel, Sage accounting software or a budgeting app).
• Technology in business can be grouped into five main areas: 1. Internal communications; 2. Design and manufacturing; 3. Financial; 4. Social media and marketing; 5. Transportation.
• Communication is the exchange of information between people. • Internal communication describes the communication that takes place inside an organisation.
• External communication describes the communication that takes place between an organisation and people outside it.
• Mass production is the continuous production of a standard product for the global market. • Capital expenditure is the money a business spends to buy or improve facilities and equipment.
• The technology industry develops and sells technological goods and services. For example, computers, software and apps.
Taking stock A
Go to page 110 of your Activities and Accounts Book to check what you have learned in chapter 16.
