Module 0-Introduction-Conducting business in the 4th industr

Activity 1

Instructions:

a) Read the following article about the 4 th industrial revolution. b) Using the categorization of digital businesses provided in 1.3 try to identify what model type your current business is. Are you at the basic, intermediate, or advanced level? c) Use the Internet to search for information on how businesses will be affected by the 4 th industrial revolution.

This activity must be done before your training begins.

CONDUCTING BUSINESS IN THE FOURTH INDUSTRIAL REVOLUTION

The fourth industrial revolution has really affected the way business is done and small businesses must change or disappear. The Covid-pandemic has had a devastating impact on small businesses and the poor economic conditions have meant we need to do business another way. To achieve a digital approach to doing business, it is important to realise that the “technology is not a panacea (a solution) for all our ills”, it is only a way to do better business. Therefore, technology and automation must be used to help better meet our customers’ needs. The use of digital technology should not result in widening the distance between customers and businesses but rather narrow that gap. For those businesses who already enjoy an online presence, this training programme will equip them with the knowledge and skills to translate their online presence into tangible gains either through increased website hits, Facebook likes, Instagram likes or retweets on Twitter. This programme should equip the small business owner with a tech-tool kit to establish and maintain an online presence.

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