Personalised mass production (1995-present)
easy to access goods, costs lowered, main factor globalisation and internet, supply chain, manufacterers not only control their
own production but also that of their suppliers
Technology and business
Companies organisations for coordinating work.
General structure of a company
flow chart block diagram, each block department.
What is it like to work in a technology company?
develop and manufacture a product
Planning: time limit, working to a specific deadline. Limited resources, space, machinery and tools must also be assigned.
Quality Control: safety regulations, force their suppliers and distributors to maintain similar quality standards.
‘any change based on knowledge generates value’.
change modification.knowledgenew discoveries, new processes, new materials. value refer to economic profit
technological innovation major factors for boosting the economic development of a country
The four Ps of innovation
expect, if the public accepts the new product or idea.