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Why Its Important Knowing how technology has influenced business sheds light on new and future industries.
Introduction to Business
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Introduction to Business
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Before the plow was invented, people had to dig in the earth with their hands.
Because of the plow, more corn could be planted which meant more corn could be produced. Increased corn production meant hiring more people to harvest the corn, selling more corn in the market, and building a corn-selling business.
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Introduction to Business
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Modern Technology
In the past 50 years, electronics revolutionized business and society.
There is a never-ending demand to make electronic goods smaller, faster, cheaper, and more powerful.
Computers can store thousands of files electronically, saving time and office space. The computer created a boom in nearly all business industries.
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Figure 9.1
Technological inventions greatly affect your daily life. These percentages represent peoples opinions about who technologically influenced the twentieth century and beyond. Which three inventors do you think youre influenced by every day?
23%
Source: Opinions Research for CNET and Techies.com; voters could choose up to three
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9
E-Workforce
E-workforce is when people work with computers while doing business. According to the Bureau of Labor Statistics more than 70 million people use computers daily.
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9
Employment
Technology makes people work easier and faster. Technologys speed saves time and creates new jobs.
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Digital Workflow
Placing hard copies of documents on a digital platform, like CD-ROMs or a database, has had a great influence on the efficient use of time. By switching information to a digital format, there is less paper involved. A digital workflow links all the steps in a process, like publishing, electronically.
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Technology Centers
The high-tech industry can be found in practically any city, but it is heavily populated in various technology centers, like Californias Silicon Valley.
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9
New Jobs
The Internet has created a demand for new jobs such as software writers, online writers, and Web page designers.
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Virtual Business
The ease of doing business online has created a boom in new businesses, or start-ups.
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E-Commerce
Electronic commerce, or e-commerce, has made it possible for businesses to directly reach customers anywhere in the world. The main activity of e-commerce is buying and selling goods and services.
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E-Tail
E-tail is electronic retail. An e-tail business sells products over the Internet. Any company can go online to sell any product.
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E-Tail
A multi-channel retailer uses several means to sell products. Businesses often call their stores and warehouses bricks-and-mortar, referring to building materials. Businesses that also use the Internet are called clicks-and-mortar operations.
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BRICKS-AND-MORTAR
CLICKS-AND-MORTAR
RETAIL
E-TAIL
C O N S U M E R S
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E-Tail
Putting catalogs on the Internet rather than shipping them by mail saves a lot of money in printing and mailing costs. E-tail is an advantage to the consumer in two major ways:
Convenience Choice
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E-Tail
E-tail is a disadvantage to the consumer in four major ways: Buying power (overspending) Other charges (shipping) Immediacy (waiting for product) Relying on observation (not being able to see products directly)
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E-Ticket
Using their computers, people can now purchase e-tickets, or electronic tickets. Some people find purchasing an e-ticket is easier and cheaper than visiting an actual ticket agency.
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