, MNM2615 Assignment 1 (COMPLETE ANSWERS) Semester
2 2024 - DUE 23 August 2024 ; 100% TRUSTED Complete,
trusted solutions and explanations.
QUESTION 1 Background and key concepts should not be more
than half a page (5 marks for the background and key concepts).
(5) Then answer the following questions: QUESTION 2 (a)
Discuss the technological progress in Africa (5 marks for the
theoretical discussions). (b) Explain how the chosen
SME/SMME can infuse the technological progress in the
business (10 marks for the practical application). (15)
Question 1: Background and Key Concepts
Background: Technological progress in Africa has been a
significant driver of economic growth and development over the
past few decades. Despite challenges such as inadequate
infrastructure, limited access to finance, and skill shortages, the
continent has witnessed remarkable advancements in technology
adoption and innovation. This progress has been facilitated by
the proliferation of mobile technology, the internet, and various
digital platforms that have transformed how businesses operate
and interact with their customers.
Key Concepts:
1. Technological Progress: The advancement and adoption
of new technologies and innovations that enhance
productivity, efficiency, and growth.
2. SME/SMME (Small and Medium Enterprises/Small,
Medium, and Micro Enterprises): Businesses with a