Technology And Business

• What does e-commerce refer to?

  The buying and selling of products and services using devices connected to an electronic network, such as the internet.
• What are the three requirements for e-commerce to take place?

  1. A seller who has products and services displayed electronically.
  2. A buyer with the equipment to view the seller’s products and services, and a means of payment.
  3. A network that enables information and payment exchange between buyer and seller.
• Who is involved in the e-commerce process?

  A seller and a buyer.
• What role does the seller play in e-commerce?

  The seller provides products and services that are displayed electronically.
• What does the buyer need to participate in e-commerce?

  The buyer needs equipment to view products and services and a means of payment.
• What is the function of the network in e-commerce?

  The network enables information and payment to be exchanged between the buyer and seller.
• What is one advantage of e-commerce related to customer reach?

  Attract customers across the globe
• What is a time-related advantage of e-commerce?

  Sell at any time of the day or night
• How do e-commerce businesses handle payments?

  Receive payments immediately
• How do overhead costs in e-commerce compare to physical shops?

  Reduced overhead costs compared to running a physical shop
• What is a disadvantage of e-commerce related to competition?

  More competitors from across the globe, making it harder for the business to get noticed
• What new skills might employees need in an e-commerce environment?

  Employees may need new skills, eg website maintenance
• What procedures are necessary for e-commerce businesses?

  Procedures required for how products and services will be delivered and processing returns
• What is a technological requirement for e-commerce businesses?

  A need to maintain and update technologies, including security software, which may be expensive
• What has social media grown to become an important part of?

  Business, particularly in relation to marketing activities
• How can social media be described?


  As any form of electronic communication that enables users to share ideas, content, information, and messages
• Which platforms are among the most well-known social media?

  Facebook, Instagram, and Twitter
• What are the main business activities on social media?

  • Sales and marketing
  • Interacting with customers
  • Communicating with stakeholders
• Why is social media considered a cheap way to advertise?

  Because it allows advertising in a visual or written form at a low cost
• How can businesses attract a target audience using social media?

  By promoting products and services to users interested in them
• What can businesses encourage people to do through social media?

  To follow their activities and promotions
• What can businesses learn from customer interactions on social media?

  What customers are saying about their products and services
• Why must customer interactions on social media be handled carefully?

  Because inaccurate or inappropriate responses can create bad publicity
• What is an example of a social media platform used for networking with other businesses?

  LinkedIn
• How do businesses use social media in their recruitment process?

  To advertise vacancies and gain insight into applicants' social media activity
• What type of social media tools do some businesses use for internal communication?

  Closed (private) social media tools
• What is communication?

  Communication is the process of sending information to others and receiving information back from them.
• What does digital communication involve?

  Digital communication involves sending and receiving information electronically.
• What are some common digital communication tools used in business?

  • Email
  • Mobile phones
  • Mobile applications
  • Websites
  • Social media
  • Web conferencing
  • Cloud services
  • Instant messaging
• What is the purpose of email in digital communication?

  Email enables written messages to be sent instantly to others, and files can be shared as attachments.
• How can mobile phones enhance communication?

  Mobile phones enable verbal conversations to be conducted anywhere and allow short written messages to be sent.
• What are mobile applications designed for?


  Mobile applications are designed to run on smartphones and tablets for various tasks like creating documents and enabling banking transactions.
• What is a website?

  A website is a page or group of pages containing written and visual information using various media.
• What is the function of social media in digital communication?

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


  Web conferencing is a meeting that uses communications software to stream images and/or voices over the internet between participants in different locations.
• What are cloud services?

  Cloud services are software run from a remote location that can be accessed from anywhere as long as a connection to the internet is maintained.
• What is instant messaging?

  Instant messaging is software that enables users to send instant messages, usually in the form of text, to each other.
• What percentage of payments in the UK were made in cash in 2008?

  60%
• What percentage of payments in the UK are estimated to be made in cash by 2028?

  9%
• How has the use of cash for payments in the UK changed from 2008 to 2018?

  The use of cash has fallen from 60% in 2008 to 28% in 2018.