Chapter

1. 9 Chapter Technology’s Impact on Business pp. 126-139

2. Learning Objectives After completing this chapter, you’ll be able to: • Explain how technology influenced business industries. • Describe three aspects of the e-workforce. continued

3. Learning Objectives After completing this chapter, you’ll be able to: • List specific examples of e-commerce. • Analyze the advantages and disadvantages of e-commerce.

4. Why It’s Important Knowing how technology has influenced business sheds light on new and future industries.

5. Key Words e-workforce digital workflow start-ups e-commerce e-tail multi-channel retailer continued

6. Key Words bricks-and-mortar clicks-and-mortar e-ticket

7. Technology’s Influence on Business Technology refers to the tools and machines people have invented to make life easier.

8. Technology’s Influence on Business Perhaps the most common technology staple used in businesses today is the computer.

9. Technology in the Past Even the simplest invention, like the plow, had a huge impact on business. Before the plow was invented, people had to dig in the earth with their hands.

10. Technology in the Past Because of the plow, more corn could be planted which meant more corn could be produced.

11. Technology in the Past Increased corn production meant hiring more people to harvest the corn, selling more corn in the market, and building a corn-selling business.

12. Technology in the Past Since the invention of the plow, countless new inventions have changed the way we live, work, and do business.

13. 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.

14. Modern Technology Computers can store thousands of files electronically, saving time and office space. The computer created a boom in nearly all business industries.

15. John Logie Baird (mechanical TV) 23% Figure 9.1 TWENTIETH CENTURY’S TOP TECHNOLOGISTS Technological inventions greatly affect your daily life. These percentages represent people’s opinions about who technologically influenced the twentieth century and beyond. Which three inventors do you think you’re influenced by every day? Source: Opinions Research for CNET and Techies.com; voters could choose up to three

16. Fast Review • Explain how the plow changed business. • How does the computer help businesses?

17. 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.

18. Employment Technology makes people work easier and faster. Technology’s speed saves time and creates new jobs.

19. 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.

20. Digital Workflow 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.

21. Technology Centers The high-tech industry can be found in practically any city, but it is heavily populated in various technology centers, like California’s Silicon Valley.

22. New Jobs The Internet has created a demand for new jobs such as software writers, online writers, and Web page designers.

23. Fast Review • How has the computer created demands for related products? • Name an industry that manages a digital workflow?

24. Virtual Business The ease of doing business online has created a boom in new businesses, or start-ups. This type of business is called a virtual business.

25. Virtual Business Vocational schools, universities, colleges, and community centers offer technical training or degrees for people interested in expanding their technology skills.

26. Virtual Business Technology skills will make you very attractive to an employer.

27. 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.

28. 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.

29. Figure 9.2 WHAT CONSUMERS BUY ONLINE: TOP PURCHASES People shop on the Internet for these top five types of purchases. What do you think are reasons for buying these products online?

30. E-Tail A multi-channel retailer uses several means to sell products.

31. E-Tail 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.

32. Graphic Organizer Graphic Organizer Bricks-and-Clicks BRICKS-AND-MORTAR CLICKS-AND-MORTAR RETAIL E-TAIL C O N S U M E R S

33. E-Tail Putting catalogs on the Internet rather than shipping them by mail saves a lot of money in printing and mailing costs.

34. E-Tail E-tail is an advantage to the consumer in two major ways: • Convenience • Choice

35. 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)

36. E-Ticket Using their computers, people can now purchase e-tickets, or electronic tickets.

37. E-Ticket Some people find purchasing an e-ticket is easier and cheaper than visiting an actual ticket agency.

38. Fast Review • How does e-commerce differ from e-workforce? • What is a multi-channel retailer?

39. Why is it important to take chances in business, particularly when launching a Web site? continued

40. Name two things that can make an online company successful. continued

41. How can a Web site contribute to increased sales? continued

42. What have been your experiences with online shopping?

43. 9 End of Chapter Technology’s Impact on Business