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