Business

• Debit or credit card transaction

  Shop till communicates with card terminal, transmits identification details to bank/credit card company, balance adjusted
• Online shopping


  Similar chain of events as card transaction, but done online or over the phone
• Online banking


  Reduces need for customers to visit bank branch, allows checking balance and withdrawing cash via ATMs
• Database


  Electronic filing system that stores account records
• Financial services have undergone huge changes due to developments in digital technologies
• Increased convenience and accessibility of financial services


  Concerns about identity and security, new types of crime like identity theft and digital financial fraud
• Move towards online financial services

  Banks closing branches, leading to job losses, difficult for customers who prefer branches especially in rural areas
• Retailers like Amazon


  Entirely online with no physical shop, but allows even small retailers to advertise globally
• Growth of online retailing

  Casualties in traditional 'bricks and mortar' retailing, high-street shops losing business
• Advantages of online retailing

  Lower costs, can be based in low tax regimes, can pass savings to customers
• Disadvantages of online retailing

  Less immediate and tangible shopping experience
• Online retailers


  • Provide services to reassure and inform customers, like tracking of goods, free returns, product reviews, helplines, support forums, advice on safe online shopping
• Other online businesses


  • Auction sites like eBay, collaborative projects producing free products like software, encyclopedias, educational resources
• Technology has changed how other businesses operate, with greater information exchange, data storage and access, use of data centres</b>
• Companies now sell to each other online, manufacturing tasks can be completed faster using computer-operated machine tools
• Changes in technology


  Affected individual working lives, e.g. role of travel agents, companies reducing employees or retraining staff, need to learn new software
• This module will explore roles that have emerged in these industries and how technology has affected the job market and recruitment process