5000 - The Digital Economy - Lecture 4

Question 1

Web Enabled Business

Answer 1

Refers to a business that offers a product or service that can be used through, or in conjunction with, the World wide web

Question 2

Web Enabled Product

Answer 2

A product accessible through a web browser or with the ability to connect to other web based applications in order to synchronize data

Question 3

Is an organisation with a website web enabled?

Answer 3

No, needs to offer something through or in conjunction with the world wide web

Question 4

Reasons to be web enabled

Answer 4

• Automation
• Cost Reduction
• Time Reduction
• Increase scope from local to global
• Implement self-help systems for employees, customers and suppliers
• Innovation to challenge competitors
• Avoid becoming obsolete

Question 5

E-Business

Answer 5

A business that uses web tech

Question 6

E-Commerce

Answer 6

The online trading of products and services over the web

Question 7

M-Commerce

Answer 7

Includes any type of e-commerce using a handheld communication device such as a smartphone. M stands for mobile so e-commerce but specifically stuff done over the phone

Question 8

Social Media Engagement Summarised Notes

Answer 8

Facebook and Twitter have very low engagement levels

Instagram has the highest engagement, showing people prefer photos and videos and are more engaged with this.

Question 9

What does it mean to be web-enabled?

Answer 9

A business is web enabled when its services or products are accessible or available online

Question 10

How does an organization become web-enabled?

Answer 10

By making a product or service accessible or available in conjunction with the world wide web

Question 11

How do Businesses use social media

Answer 11

Business use social media to try engage with potential customers and entice them to use their online services to purchase their product or service. Customers need to be engaged for this to happen

Question 12

What would a micro-analysis include?

Answer 12

Company
Suppliers
Competitors
General Public
Customers

Demographic Environment

Economic Environment

Question 13

What would a Macro-analysis include?

Answer 13

Identification of key events and trends

Understanding what these trends and events would mean and what impact they would have

Identify which ones pose the greatest likely threat

Forecast future direction of any trends and again monitor and assess impact