The Impact of New and Emerging Technologies

Industry

Around the world new technology is causing millions of new jobs to be developed. Some skills and trades are being replaced by robots and computers causing unemployment and the need for retraining. New skill sets are being asked for in all areas of industry with the ability to use technology to communicate around the world instantly has meant that travel amongst countries is less necessary.

Enterprise

The development of new ideas in our consumer society means that we have never before had the choice and availability of new products and this is having an impact on all parts of society:

Products specifically made for the old or disabled – such as mobile phones with large numbers.

Products to help the developing world become more affordable – water filters and pumps.

More availability of products for specific groups – vegetarian food, clothing adapted for religious groups. As consumers we are unwittingly influenced by fashion, celebrity and marketing. With the growing use of social media entrepreneurs are taking advantage of this way of advertising to start new businesses:

Crowdfunding - people are encouraged to invest in the development of products or services which they think are a good idea to help it be produced. They receive a percentage of the profits if it is successful.This sort of innovation is making a change in our spending habits. Where once we would go to shops in towns we can now buy virtually anything on line. This has affected the amount of shops on our highstreets and the number of jobs available to us. Not having to pay the overheads of shops and staff saves company’s money.

Government incentives award cash to help new businesses start up to encourage economic growth, employment opportunities and technological developments.

The development of new ideas in our consumer society means that we have never before had the choice and availability of new products and this is having an impact on all parts of society:

Cooperatives - are groups of people who share their investment and develop products together, they can share profits (and losses) when it goes into production.

Not for profit organisations - are organisations dedicated to developing a social cause, the reinvest their profits into improvements and are tax exempt. They can be in areas such as education, religion, science etc.

Virtual marketing – popup advertising, spam emails and virtual retailing are all ways of selling you products without you setting foot in a shop.

We are probably all a little guilty of loving __fad products, __they are introduced to the market and sell rapidly for a short period of time. (think fidget spinners, loom band and virtual pets!). Fads have a rapid rise in sales followed by a small time period of development and improvement and then a rapid fall in sales. An entrepreneur spotting a product at the beginning of a fad can make a fortune very quickly.

Products specifically made for the old or disabled – such as mobile phones with large numbers.

Products to help the developing world become more affordable – water filters and pumps.

More availability of products for specific groups – vegetarian food, clothing adapted for religious groups.

As consumers we are protected by law from being mis sold products, if they are faulty or do not do what we are promised we are protected by law.

• Child safety standards have to be applied to all toys to make sure they are safe for children.

• Fabrics and furnishing has to be flame proofed to protect against fire.

• All products must be labelled with ingredients and materials.

• Manufacturers have a duty of carte to ensure products are tested before going into production to keep customers returning because they are happy with the quality of the products they have bought.

Sustainability, the environment and social issues

We live in a time of rapid change and consumerism. Changes in technology mean that products are adapting and improving all the time and people generally want to very latest version. Resources on our planet are not never ending (infinite) and eventually they will run out (finite) unless we develop better ways of sustaining them.

Consumers can be encouraged to help the environment by:

• Buying fewer products.

• Mending your existing products and recycling where possible.

• Being aware of the environmental footprint of your product and choosing the least damaging.

Factories can be encouraged to help the environment by:

• Improving energy ratings of their products and their manufacturing techniques.

• Avoid using chemicals which are bad for the environment eg. CFC’s going into the atmosphere or polluting dyes going into the water harming wildlife.

• Avoid wasting materials.

• Make products that can be recycled.

• Design products with easy to change spare parts to discourage waste.

Consumerism in society

We are all consumers and we are encouraged to like owning ‘stuff,’ whether it’s the latest phone, a takeaway meal or the new trainers we are told we should be able to have it now.

Market Pull is the design and manufacture of products which satisfy a need in the market and consumer demand. This might be from the influence of a celebrity or a sports person on the clothes you choose.

Technology push (sometimes called Market Push) is what designers and manufacturers can provide which can inspire a new product or improve an old one. A great example of his is a mobile phone. Things that make a product more desirable would be to improve its function, the way it looks or make it cheaper.

This sort of innovation is making a change in our spending habits. Where once we would go to shops in towns we can now buy virtually anything on line. This has affected the amount of shops on our highstreets and the number of jobs available to us. Not having to pay the overheads of shops and staff saves company’s money. Rebranding and repackaging products can refresh their lifetime and the use of logos encourages consumers to want a branded product rather than a cheaper alternative.