Technology’s Impact on Business

Chapter 9

Objectives

Explain how technology influenced business industry.

Describe the three aspects of the e-workforce

List specific examples of e-commerce. Analyze the advantages and

disadvantages of e-commerce.

Teenage Online Entrepreneurs

Michael Fudyk – MyDesktop.com A small but growing number of

teenagers are starting online businesses.

8% or 1.6 million teenagers in the US are making at least some money on the Internet.

Technology’s Influence on Business Technology refers to the tools and

machines people have invented to make life easier.Thomas Edison – light bulb, phonograph, movie

camera. These made the power, music, and film industries possible.

Radio and Television entertain and inform us.The telegraph and eventually the telephone

made it easier to communicate.Trains, cars, and airplanes made it easier to get

around.

Most Common Technology Staple Today The computer is probably the most

common technology staple in today’s business.Electronically store thousands of fi.es which

saves time, labor, and office space. Scanners read the prices of products and

record sales instantly, making business move much faster.

Accounting and bookkeeping computer software programs help organize, plan, and control business operations.

Modern Technology

Electronics has revolutionized business and society.

There is a never-ending demand to make electronic goods smaller, faster, cheaper, and more powerful.

The computer created a boom in nearly all business industries.

The economies of many countries such as Japan and Taiwan are based on manufacturing electronics.

“E” e-workforce: when people work with computers

while doing business The ease of doing business online has created

a boom in new businesses or start ups called a virtual business.

e-commerce (electronic commerce) has made it possible for businesses to directly read customers all over the world.

e-tail: electronic retail (Amazon.com) e-tickets: electronic tickets (available for tickets

to concerts, museums, airlines, etc.)

Advantages of e-tail as a consumer Convenience – you can shop at home

without going to a store, open 24 hours, 7 days a week

Choices - # of online companies selling products give you more choice, lets you compare prices easier

Disadvantages of e-tail as a consumer Buying power – easy to overspend Other charges – have to pay shipping

charges and usually tax, the exchange and return policies may be pricier

Immediacy – you still have to wait for the product to be delivered

Relying on observation – requires you to rely on pictures and descriptions instead of actually touching the item yourself