Technology (influences on business) Flashcards
4 factors in the internal environment
Human Resources
Finance
Marketing
Operations
Can the business influence their internal environment?
Yes
Factors of the external environment:
TELE + globalisation + competition
Can businesses influence their external environment?
No
How does the external environment affect the business?
The decisions that a business makes are based of the factors that affect the business and it is outside of business control
What is ICT?
Computing and communication systems that a business uses to exchange information with stakeholders.
What’s the internet?
Global network of computers +other electronic devices which anyone can access
What’s the intranet?
Communication network which can be accessed by an organisation’s employees or members (internal people)
What’s the extranet?
Communication network which is also accessible to an organisations external stakeholders and internal stakeholders
Examples of computing + communication systems
PC, tablets, smartphones
Stakeholder examples:
Customers, suppliers, employees, gov’t
Impact of ICT on business activities: data
Collecting data: large amounts of data can be collected
Storing data: large amounts of data can be stored on ‘cloud’
Analysing data: software can analyse data and help decision making within the business
E-commerce:
Buying and selling of goods using electronic systems
E-commerce:
Buying and selling of goods using electronic systems
M-commerce:
Buying and selling of goods through mobile devices that are wireless and handheld
How do online businesses collect payments?
They have electronic payment systems to enable customers to buy products electronically and the most common method is card payment
Benefits of e-commerce:
-Access to wider markets ( open 24/7, can sell nationally and globally)
-Lower costs as they don’t need to pay to have a physical presence
Drawbacks of e-commerce:
-More competition: wider market, more online businesses
-Not all products sell online ie; services like a haircut
-Higher costs: maintaining website + distribution systems ( delivering and returning)
What’s digital communication?
Transmission of information between computing devices
Forms of digital communication:
Apps
Social media
Video conferencing
Email
Texts
Webchat
Forms of digital communication:
Apps
Social media
Video conferencing
Email
Texts
We chat
