Technology and business

Question 1

How has technology changed the ways businesses work?

Answer 1

• speed up processes make them more efficient
• easier communication
• reduced costs in long run
• selling goods and services (E- commerce) and

Question 2

Disadvantages of using technology in business

Answer 2

• Can be verry expensive
• training staff or buying new equipment
• hire staff with particular skills

Question 3

advantages of e-commerce on businesses

Answer 3

• Opens the market to customers nationally and internationally.
• Enables smaller companies to compete with larger companies.
• Reduces in staffing and/or high street stores thereby reducing costs.
• Provides the option to offer 24 hour shopping at minimum additional cost.

Question 4

Disadvantages of e-commerce

Answer 4

• Stiffer competition - businesses can find themselves competing on a global scale.
• Staff reductions - with new more efficient and accurate capital like machinery
• Cost of restructuring - Expensive
• Customer concerns - customers might physically want to see the product , older generations might be reluctant to use the internet

Question 5

How can businesses communicate with stakeholders using technology

Answer 5

• Social media
• websites
• email
• mobile apps
• live chats
• video calls

Question 6

How can social media help firms to communicate with stakeholders?

Answer 6

• Advertising to customers
• customer service
• promotion of local events/community

Question 7

How can websites help businesses communicate with stakeholders?

Answer 7

• Communicating with customers
• blogs
• customer service -eg FAQ’s

Question 8

How can email help businesses communicate with stakeholders?

Answer 8

• Quick way of communication
• personal- responding to a customer query
• larger scale- eg. All employees go home early

Question 9

How can mobile apps help businesses communicate with stakeholders?

Answer 9

• Programs used on mobile devices (eg, phone, tablet.
• communicating with customers
• info on location of store
• special offers
• product portfolio/availability

Question 10

How can live chats help businesses communicate with stakeholders?

Answer 10

• Instant messaging service
• Bots to answer commonly asked queries
• used by employees to communicate in different locations
• used by customers to speak with a customer service advisor

Question 11

How can video calls help businesses communicate with stakeholders

Answer 11

• Employees that work in different locations can video call to hold meetings
• communicating with stakeholders who might live in different places
• chatting with clients