This is a full summary of the Digital Part 1 Department of your BSCI112 module if you are a NWU student.
If you are not a NWU student you can still use this summary if you have Business sciences as a module at your university.
Chapter 3 : Technologies used in business and finance
2. The fourth industrial revolution:
2.1.1 The fourth industrial revolution : p.53
Def : An industrial revolution powered by digital technology.
2.1.2 The fourth industrial revolution features:
Velocity – The speed of technological breakthrough is faster than any other.
Effect – It is disrupting almost every industry in every country.
Scope – The breadth and depth of change that the revolution is effecting in
industries is greater than ever before.
2.1.3 The dynamics :
Number of changes and dynamics caused by the fourth industrial revolution that
affect businesses :
Speed of technological change
Cheaper transportation and communication costs.
Disruption in the labour market.
Technology disrupting industries and supply chains.
Greater customer expectations for products and services provided.
2.1.4 Other characteristics:
Employment Automation, digitisation and robots will
fundamentally change the nature of the
jobs and make many jobs redundant.
Natural assets Tech. will improve asset management by
making better use of natural assets,
increasing the use of renewables.
Machine-led manufacturing The role of workers will changes from ,
machines assisting people to people
assisting the machines.
, Fusion Digital and physical systems will merge
and become autonomous.
3. Key technologies for organisations :
3.1 Technological developments :
Increase the value of workers in three ways :
To work faster
To work more efficiently
Makes them more productive at new tasks
3.1.1 Cloud computing :
Def :
- Involves the provision of computing as a consumable service instead of a
purchased product.
- Enables system information and software to be accessed by computers remotely
as a utility through the internet.
o A cloud can be public or private.
o Characteristics:
Sold on demand Users pay for cloud services only when they
use them.
Elastic Users can have as much or as little of the
service as they want as any given time.
Fully managed The service is fully managed by the service
provider. They only need internet.
On-demand and self service The service is available all the time and the
user operates the service themselves.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller anjevanpletzen. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.39. You're not tied to anything after your purchase.
