2.1 - Technology

2.1 - Technology

1. Keywords

   • Information and communication technology (ICT) - Cmoputing and communications systems that a business might use to exchange information with stakeholders
     • E.g. Amazon website to its customers
   • Stakeholders - Individuals and organisations that are affected by, and affect, the activities of a business
   • Software robots - Advanced computer programme the can operate a range of administrative activities previously carried out by employees
   • Cloud Computing - Delivery of specialist computing services, e.g. storage of very large amounts of data, provided by business using the internet
   • Digital communication - Transmitting information digitally between computing devices
   • Webchat - Simple means of computing in real time (instantly) using only web browsers (e.g. chrome)
   • Intranets - Communication networks which can only be accepted by an organisation's employees
     • E.g. internal email school
   • Extranets - Like Intranets but are also accessible to other organisations e.g. suppliers
   • E-commerce - act of buying or selling a product using an electronic system such as the internet
   • M-commerce - buying and selling of products through wireless hand held devices such as smartphones
   • Apps - Pieces of software designed for a specific purpose and for use on smartphones and tablets
   • Social media - Method of online communication e.g. websites and applications. they share information and help develop social and professional contacts

2. Location of employees

   • Location of employees is more flexible for some business e.g. working from home
   • Call centres can be based anywhere in world allowing businesses to lower costs e.g. cheaper wages for staff in Indian call centres
   • Technology is now starting to replace staff through voice recognition and automation e.g. automated payment of bills
   • Software robots are advanced computed programs that can operate a range of activities previously carried out by people

3. Collecting, storing, analysing information

   • Businesses collect large amounts of data via servers, which can be used to target customers with products
     • Cloud computing allows businesses to access specialist computing services e.g. storage of large amounts of data provided by businesses using the intrenet
       • Analysis of data helps you identify trends in customer behaviour so the business can respond with goods and services

4. E-commerce

   • Electronic system include businesses selling to customers or other businesses via websites e.g. food, music and festival tickets
   • They also include individuals selling directly to other people through websites such as ebay

5. Using e-commerce to access more markets

   • businesses are investing more in e-commerce due to access to wider markets.
   • New customers can bring about growth in a business e.g. 2016 online shopping rose by 29% since 2015
   • Smaller businesses can target national or international markets without spending large amounts on advertising

6. Digital communication

   • Uses devices like laptops, tablets and smartphones to transfer information, this includes emails, texts, video calls, apps and social media. Businesses can communicate with stakeholders to get messages across and listen to customer feedback

7. Customers and potential customers

   • Digital communication allows greater interaction for customers so they can ask questions, place orders or make complaints.
     • Specialist managers and teams are created in some business to focus on these areas. Media can help create a positive reputation as long as businesses respond quickly and positively to any criticism

8. Suppliers and employees

   • Businesses offer systems that automatically re-order supplies when stocks are low, this reduces the costs of storage but requires good relationships with suppliers in order to work efficiently
     • Digital communication is used by Uber to connect customers to drivers. Customers can use Uber to request a taxi with the app and drivers can use the app to navigate

9. Other stakeholders

   • Large businesses have held online meetings with shareholders as previous meetings were poorly attended. Shareholders do not have to travel and the businesses can monitor attendance and participation