3.2.1 Technology

What is meant by "Stakeholders"?

• Senior managers of the business

• Own a share in the business

• Individuals and organisations that are affected by, and affect, the activities of a business

• The franchise owner of a business

What is meant by an "intranet"?

• Innovation within a particular industry

• Organisations formed to put forward a particular viewpoint

• Communication networks that can only be accessed by an organisation’s employees

• Networking events within an industry

What is meant by an "extranet"?

• Always actively involved in the daily running of the business

• Similar to intranets but are accessible to other organisations, such as suppliers

• Specialist computing systems

• Software used within the Human Resources department

What is meant by "payment systems"?

• Hire purchasing and leasing arrangements

• Ways of paying electronically, such as PayPal

• The collective name for the UK banking system

• Making a deposit to secure a product

What is meant by "E-commerce"?

• The use of social media in business

• Selling online rather than in a physical one-to-one transaction

• Trading in energy

• Developing a presence on the high street

What is meant by "M-Commerce"?

• The development of digital communication

• Online trading

• Buying and selling of products through wireless handheld devices

• The use of social media in business

What is meant by "cloud computing"?

• The general term for the delivery of specialist computing services, such as the storage of very large amounts of data, provided by businesses using the internet

• Storage on computer systems for strategic, Blue Sky thinking

• The use of mobile technology for retail purposes

• Advanced computer programs that can operate a range of administrative activities

What is meant by "software robots"?

• An aspect of e-commerce meaning commerce using apps and mobile phones

• Advanced computer programs that can operate a range of administrative activities

• Honest and fair dealing from the company, especially on prices and credit terms

• Security of employment