Technological Change

Technological Change
• Technological Advancement
• E-Business
The impact of new technology on skills needs, work
practices and organisational structures is evident
in all skills reports. Global communication networks
and supply chains, online ordering and technology to
monitor stocks and cash fl ows, and use of the internet
has an impact in different ways across industries, with
advancements driving change in products, services
and communications. These changes result in the need
for continual retraining in new technology and related
products.
E-business is becoming prevalent in government and
large companies. This results in broader and different
customer networks. Global communication systems
change the notion of customer, and reshape supply
chains and service provision. Employees will need skills
in developing online relationships with consumers,
producers and other businesses. Most of the innovation
and business industries have embraced e-business
practices, but internet usage for business is not yet
consistent across industries. The use of e-learning for
training purposes is also uneven.
Information and Communication Technology (ICT) skills
are required at all levels, across occupations. Existing
workers need upskilling in new technologies as they
come on stream. How quickly these requirements can
be refl ected in Vocational and Technical Education (VTE)
standards and programs must be addressed. Small and
medium enterprises’ ICT training needs, including ebusiness,
must be met with programs delivered at times
to suit enterprise needs.
VTE teachers’ and trainers’ knowledge of new
technology, and work processes underpinned by
technology must be current and relevant.
To become a transaction bank, industry would have to further
raise the level of transaction convenience, accessibility
and security in addition to the variety of services for its
customers as it strived to respond to all their changing
needs. This measure was expected to further strengthen
its customer and merchant bases, prompt it to keep
bringing new and innovative products and services to
market while continuously expanding its network. Coupled
with secured and regularly updated IT infrastructure as well
as a solid back office system, all these strengths could be
mobilized to take industry transaction convenience level so
high that more and more people would find it a necessity
to become industry customers. This would in turn help
strengthen BCA customer base further, and the
snowballing effect would keep its momentum.