Page 21 - 5.2 i. Manac Finance ITC Summarised Notes

STRATEGY AND GOVERNANCE

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The impact of technology on strategy

• The way in which business is conducted is evolving. Technology and
industrialisation are amongst some of the components which have
played a role in this evolution

• The internet has significantly expanded its reach over the last few
decades with the number of users growing daily; where users are now
able to access the internet with their phones or tablets and do not
necessarily require a computer.

• This is particularly relevant in developing economies, including South Africa.

• The effect of decreasing data costs and greater bandwidth has had a
positive effect, with businesses harnessing the benefits in the form of
up to date marketing campaigns, on-line sales, the creation of customer
information database, on-line payments (Electronic funds transfer-EFT’s)
etc.

• While this evolution has proved to be beneficial it is important to note

that challenges also do exist.

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