2 Influnces On Business Flashcards
Information and communications technology (ICT)
The computing and communication systems that a business might use to exchange information with stakeholders.
Stakeholders
Are individuals and organisations that are affected by, and effect, the activities of a business
Intranets
Communications networks which can only be accessed by an organisation’s employee.
Extranets
Communication networks which can be accessed by an organisations employee but can also be accessed by other organisations such as suppliers.
Software robots
Advanced computer programs that can operate a range of administative activities previously carried out by employees.
Cloud computing
A general term for the delivery of specialist computing services, such as the storage of very large amounts of data, provided by businesses using the internet.
E-commerce
The act of buying or selling a product using an electronic system such as the internet.
M-commerce
The buying and selling of products through wireless hand-held devices such as smartphones.
Digital communication
The transmission of information electronically between computing devices.
Webchat
A simple means of communicating in real time using only web browsers such as firefox or internet explorer.
Apps
Are peices of software designed for a specific purpose and for use on smartphones and tablets.
Social media
Methods of online communication such as websites and applications. They share information and help to develop social and professional contact.
Ethics
Refers to whether a business decision is morally right or wrong. An ethical decision is made on the basis of what is judged to be morally right.
Profit
Measures the difference between values of a business’s revenue and its total costs.
Fair trade products
those for which customers pay higher prices and offer better trading terms, such as payments with orders.The aim is to improve the Living standards of people in poorer countries where the products are produced.
