ICT
Give one way in which technology can improve business
(i) speed and time;
(ii) easier storage;
(iii) improved sharing of information; and,
(iv) automation.
Social media can affect businesses as employees may be ____________ due to being on their phones during work hours
Distracted
People are seen as having a higher _____________ when they can afford to buy more goods and just as importantly, better quality goods
Standard of Living
This is a key factor in determining the opportunities that people have in society, as well as determining how productive a society is.
Education
Define National Income
This is the total amount of money earned within a country.
This is a vast network that connects computers all over the world. Through this, people can share information and communicate from anywhere with a connection
Internet
Companies need this to ensure that their information is not leaked to outsiders.
Companies need this to prevent loss of projects and information
Security
A person’s _____________ is the part of the income that is available to that person to spend or save.
Disposable Income
This is a measure of how many people live in a specific area
Population Density
Define Quality of Life
Quality of life is a measurement of the benefits of living, such as access to healthcare, free education, leisure activities and a long life expectancy.
Give one benefit of technology to business
(i) reach more potential customers, develop a business relationship with potential customers;
(ii) streamline operations, reduce costs, improve efficiency, maximise profit, minimise waste, devote talent to core business instead of overhead;
(iii) provide better service to customers;
(iv) support better relationships with key partners; and,
(v) allow customers to better guide the business.
Countries have passed Data Protection Acts to protect the ______________ of customers
Privacy/Personal Details
The accessibility and availability of hospitals is a sign of a country's:
Quality of Life
When skilled and educated persons migrate and never return, this is called?
Brain Drain
Define Intellectual Property
Intellectual property includes the intangible assets you create for your business, such as names, designs, and automated processes. And just like tangible possessions, intellectual property needs to be monitored and protected.
This covers outward processes that touch customers, suppliers and external partners, including sales, marketing, order taking, delivery, customer service, purchasing of raw materials and supplies for production
E-commerce
When companies create intangible assets, they will want to protect it and can cause a person illegally accessing these assets to be fined or jailed. What are these intangible assets called:
Intellectual Property Rights
Health is wealth, and when it comes to food, a country's _______________ can be a factor in determining the country's Quality of Life
Diet and Nutrition
This is a community of 15 Caribbean member states and associates, which enables economic cooperation and integration between members. It seeks to coordinate the foreign policy of members, plan shared development of the region and create special projects for poorer states within the community
CARICOM
Define E-Business
E-business includes e-commerce but also covers internal processes such as production, inventory management, product development, risk management, finance, knowledge management and human resources
Give an example of a specialist application we spoke about in class
Accounting: QuickBooks, peach tree
Design - Computer Aided Design (CAD), Photoshop
Management Information Systems
A random email comes in from Nigeria announcing that you have won 15 million dollars.
This is most likely a ________________
Scam
Long time, this used to go plenty, but nowadays, it does not go as nearly as much.
It went the other day though.
All in all, the quality of life has improved
Electricty/Current
This is a purchase of an interest in a company by a company or an investor located outside its borders
Foreign Direct Investment
Define Business Technology
Business technology refers to applications of science, data, engineering, and information for business purposes, such as the achievement of economic and organisational goals. T