Technology and business Flashcards
How has technology changed the way businesses operate in a good way?
Development in ICT - often make processes faster.
Can also lead to reduced costs in long term
How has technology changed the way businesses operate in a bad way?
Adapting to it can be very difficult as it can be very expensive.
staff and skills are needed
What is E-commerce?
buying and selling online
What is an advantage of e-commerce?
firms can reach wider market
How can you use Social media to communicate with your stakeholders?
advertise products to customers, to provide customer service or to promote local events to a community
Disadvantage of E-commerce?
have to adapt to it as its become more important.
build websites, employ IT specialists and develop systems to distribute products to online customers
How can you use websites to communicate with your stakeholders?
posting blogs or providing customer service (FAQs).
How can Email be used to communicate with stakeholders?
Personal level, respond to customer, or on a bigger scale,make an announcement to all employees.
How can mobile apps be used to communicate with stakeholders?
usually used by firms to communicate with customers, giving info on where stores are located, products the company sells and any special offers.
How can Live chats be used to communicate with stakeholders?
can be used to talk to employees from different locations, or customers can use them to speak with a customer service advisor.
How can Video calls be used to communicate with stakeholders?
Employees in different locations may use video calling to hold meetings rather than travelling to meet up.
Why do companies need to adapt the way they communicate with stakeholders?
To stay competitive
