Technology

Question 1

Information and communications technology - ICT

Answer 1

Computing and communications systems that a business might use to exchange information with stakeholders

Question 2

Uses of ICT

Answer 2

Use website to promote and sell products and communicate with costumers
Large businesses use a private communication network- intranet - to communicate internally with employees.
Others use a extranet - communication network that can be accessed by employees but also by selected external stakeholders like suppliers

Question 3

Influence of ICT on business activity

Answer 3

Collecting information - huge amounts of data can be gathered.
Analysing information - businesses store collected data on computers and use powerful software tools to analyze.
Using employees effectively - employ people who work from home and connect to business through ICT.

Question 4

E-commerce

Answer 4

Takes place when goods and services take place using an electronic system eg internet

Question 5

Benefits of e-commerce

Answer 5

• Accessing more markets - even small businesses can sell to customers through the world. Low cost, effective way to target wider market
• Business growth - e-commerce sales are growing more quickly ten sales in shops.
• Lower costs, higher sales revenue - easily raise prices during times of high demand for customers.