Leading edge technology: the most advanced or innovative technology at any point in time. E.g. use of social media and apps. It can help businesses to:

• Create more products quickly and to higher standards
• Reduce waste
• Operate more effectively and efficiently

Established technology: technology that is widely accepted and used e.g. email, word processors, information systems.

Both forms of technology give business efficiencies, productivity gains and a capacity to improve operations processes.

Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.