influences on business

• What does e-commerce refer to?

  The buying and selling of products and services using electronic devices
• What are the three requirements for e-commerce to take place?

  A seller, a buyer, and a network for information exchange
• What is one example of a device used in e-commerce?

  A laptop
• How does e-commerce benefit sellers in terms of customer reach?

  It attracts customers across the globe
• What is one advantage of e-commerce regarding payment?

  Payments are received immediately
• What is a disadvantage of e-commerce related to competition?

  There are more competitors from across the globe
• What new skills might employees need due to e-commerce?

  Website maintenance skills
• What is a potential cost associated with e-commerce technology?

  Maintaining and updating security software
• What role has social media taken in business?

  It has become important for marketing activities
• How can social media be described?

  As any form of electronic communication that enables sharing
• Name one well-known social media platform.

  Facebook
• What is one way businesses use social media for sales and marketing?

  To attract a target audience
• How can businesses gain customer loyalty through social media?

  By encouraging people to follow their activities
• What can businesses learn from customer interactions on social media?

  What customers are saying about their products
• Why must businesses handle customer interactions on social media carefully?

  Inaccurate responses can create bad publicity
• How can social media be used to communicate with stakeholders?

  By networking with relevant people and organizations
• What is one way businesses use social media in recruitment?

  To gain insight into applicants' social media activity
• What are closed social media tools used for in businesses?

  For informal or internal communication with staff
• What are some digital tools commonly used in business for communication?

  Email, mobile phones, mobile applications, websites, social media, web conferencing, cloud services, and instant messaging
• How does email facilitate communication in business?

  Email enables written messages to be sent instantly and allows file sharing as attachments
• What is the primary function of mobile phones in business communication?

  Mobile phones enable verbal conversations and short written messages to be sent
• What are mobile applications designed to do?

  Mobile applications are designed to run on smartphones and tablets for various tasks
• What is the purpose of a website in business communication?

  A website contains written and visual information using various media
• How does social media contribute to business communication?

  Social media enables users to share ideas, content, information, and messages
• What is web conferencing?

  Web conferencing is a meeting that streams images and/or voices over the internet
• What are cloud services in the context of business communication?

  Cloud services are software run from a remote location that can be accessed via the internet
• What is instant messaging?

  Instant messaging is software that enables users to send instant text messages to each other
• What is chip and pin technology?

  Chip and pin technology requires a personal identification number to authorize card payments
• How do contactless payments work?

  Contactless payments allow transactions of £30 or less using a card or smartphone
• What opportunities does technology provide for businesses?

  Technology provides opportunities to attract new customers and increase sales
• What threats do businesses face due to technology?

  Businesses may struggle to maintain sales due to increased competition from other businesses
• How do digital communication systems impact sales activity?

  Easier contact with a business increases customer trust and likelihood of purchase
• What are the positive impacts of e-commerce on sales?

  • Attracts customers globally
  • Allows 24/7 selling
  • Enhances professional appearance
  • Enables easy price updates
  • Shows stock availability
• What are the negative impacts of e-commerce on sales?

  • Increased competition
  • Logistical challenges for delivery
  • Customer service difficulties for small businesses
  • Price comparison by customers
  • Need for up-to-date stock records
• How can social media impact sales activity?

  Social media can run marketing campaigns and build customer relationships
• What can poor responses to social media posts lead to?

  Poor responses can damage a business's reputation and decrease sales
• How do payment methods affect sales activity?

  Convenient payment methods increase the likelihood of customer purchases
• What are the cost implications of investing in new technology for businesses?

  • Initial costs lead to long-term savings
  • Remote work reduces office space costs
  • Electronic communication saves on printing and postage
  • Video conferencing cuts travel costs
• What are the cost benefits of e-commerce for businesses?

  • Cheaper than maintaining physical stores
  • Requires fewer staff
  • Smaller premises needed
  • Avoids high street rent and rates
  • Automates tasks like administration
• What additional costs are associated with e-commerce?

  • Website hosting costs
  • Fees for online payment processing
  • Warehousing and distribution expenses