2 Influences on Business Flashcards
What is ICT?
Information and communication technology
What is e-commerce?
Online purchasing of products
Give 1 advanatage of using digital communication
They’re cheap to operate and are widely used
Give 1 disadvanatage of using digital communication
May be unreliable and no guarantee the message was recieved
How are businesses affected by digital communication?
Easier to organize products in stock. Financial recording is easier
What is business ethics?
It’s a concern to the business’ moral behaviour
How do environmental issues affect businesses?
They must follow any legislation that is linked to the environment
What is sustainability?
It must be able to maintain the current levels of production in the future
What is globalisation?
It’s the spread of people and culture from different countries
Give 1 advantage of globalisation?
It’s increased markets for small and large businesses
Give 1 disadvantage of globalisation?
Multinational firms have become very powerful with their global brands
What is legislation?
The process of making laws
What is minimum wage?
The lowest amount of money you can pay your employees
What is discrimination?
The treatment in an unacceptable way of anyone who is termed to be different
What is employment rights?
It’s something to which an employee is entitled, which is protected by law
