How have advances in technology impacted consumers?
online businesses vs. traditional brick-and-mortar businesses -ease for consumers to purchase, browse & shop
How is technology impacting every major business discipline?
marketing, accounting/finance, operations, law, etc.
How is social media impacting different areas of business?
-increase customer reach→ neighborhood, state, globally -handle increased sales volume, sell products that may not be on the shelf, increase types & variety/ (note: operations area of biz) -forces companies to act more transparently in privacy & data collection -online store model reduces overhead cost (ex:electricity, office space etc) -Returns, Quality..issues -Marketing, “targeting”, segmentations -faster, cheaper tech
What is a brick-and-mortar business?
-a physically present business- not online, only offline ex: pop up shops, gas station, dry cleaner etc
The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite (TCP/IP) to link several billion devices worldwide.
What is a click-and-mortar (or clicks-and-bricks) business?