Impact On Enterprise Flashcards
What have business traditionally done instead of crowdfunding ?
Borrow money from a bank to raise enough funds to develop a project
However this is risky and with interest, payments can often be expensive
What does crowdfunding use ?
Websites to advertise products as investment opportunities where people can choose to back a project with a financial donation if they think it will be viable. They receive a percentage of the profits is successful
In crowdfunding what are backers often rewarded with ?
Free gifts, discounts or a pre agreed part of any profits if the product is successful
What are the four examples of impact on interprise ( consumerism)?
Crowdfunding
Virtual marketing and retail
Cooperatives
Fair trade
What has recently become a part of the retail experience ?
Promotions of products online and sharing experiences, reviews and recommendations
What have algorithms been able to do ?
Generate information about users buying habits and suggest relevant retail sites for them to try using
What is search engine optimization (SEO)
Process of using techniques to improve return rate of a webpage when indexed by a search engine
What are the three examples of providing advertising platforms ?
Blogs ( a web log)
Vlogs ( social media video)
Social media
Extra
- pop up advertising
- spam emails
- virtual retailing
Why might a company advertise a wed site rather than from a high Streep shop ?
The cost is far lower
What is cooperatives ?
Organizations with lots of people working together towards common goals
They are run and owned by members who share decision making, profits and risks
What is a famous example of a cooperative group ?
- John Lewis and partners
- Nationwide building society
What is fair trade ?
Trading partnership that ensures workers in developing countries are given suitable workings conditions and are paid a fair wage
Eg
- paid a living wage
- conditions are monitored and kept safe
- safety equipment is used
- child labor and sweatshops are banned
Do companies have to do fair trade ?
No, but it’s become more popular due to growing public beliefs
Therefore encouraging companies to fair trade
Why have these all had effects on a change in spending habits?
We can now buy virtually anything online
This has effected the number of shops and number of jobs available
What are the impacts of development of new ideas ?
- process made for the old or disabled
- products to help the developing world
- more availability forfeit products or specific groups
- respect for customers political, religious and cultural beliefs
