4.9 Impacts of technology on business operation in global markets , Flashcards
1. Focusing on Technology that assists businesses in the expansion into global markets 2.e-commerce ,security and privacy issues
Big Question
How does technology affect businesses?
Reliance on e-commerce and particularly on global sale’s heaviliy depend on **consumer confidence **Protecting customer database and business information systems from online criminals who steal information for fraud and identity is criticcal because ….
It helps boost consumer confidence in businesses
Fosters trust towards businesses
and boosts sales growth
Syllabus point
Isssues relevant to individual businesses concerning ecommerce include
Security issues
Privacy issues
Security issues
Customers are more likely to purchase products and serivices online if they trustthat **their personal and payment info is secure **.
Poor e-Commerce security results in ?
Declline in poetential e-Customers
Security Isuues (SI)
strengthened Security in e-commerce lead to what?
Increases consumer confidence
Boosts sales growth
(SI)
Examples of Methods to manage customer security online. Method 1
.The use of ‘‘https’’ rather than ‘‘http’‘in businesses online addresses and also a padlock icon in the adress which **encrypts data and authenticates **the server ensuring security of user’s information
(SI)
Examples of Methods to manage customer security online. Method 2:Validation of credit cards
Business can** validate customer credit cards** using live adress verification services during checkout.Preventing fraudulent purchases .This can be done through The CCV (Card Code Verification) for transactions made online also the CCV info is hard to get online
(SI)
Another method of Managing customer security online
Communicating Customer Security:
Displaying an eCommerce security policy on the website can also build customer trust. Such a policy should explain data encryption, SSL protection, and the handling of credit card details. It should also outline actions taken in case of suspected fraudulent use.
(SI)
Examples of Methods to manage customer security online. Method :Secure payment processes
Secure payment processes can be integrated into shopping carts through trusted third- party services like *PayPal,Visa,Checkout *,Or Google wallet which have thier own security and fraud management systems
(SI)
Businesses have a** legal obligation** to treat this information carefully and to maintain their privacy. Providing your customers’ details to a third party is illegal in most countries and there may be penalties for doing so without consent.
Companies are subject to privacy laws of each country .the best idea is to have strong privacy laws and systems to ensure complience with the range of laws they operate under
Australia Has the National Privacy Principles (NPPs) in the privacy act
(PI)
Privacy issues
Operating an eCommerce website requires collecting and storing customer details. This includes sensitive information such as address, financial details and other personal information. An important aspect of eCommerce security is the security of customer information.
Privacy issues (PI)
what does the National Privacy Principles (NPPs) detailed in the Privacy Act 1988 do?
sets out principles in relation to the collection, use, disclosure, security and access to personal information.
the best practise for business seeking to develop trust with consumers is to
Have a clear privacy policy on the website and clearly state what they will do and not do with their customers’ personal details and how they will use tracking tools such as cookies
examples of how business can utilise and manage (PI)
