In this chapter, the following content will be discussed: Technology – Impact on our lives, the impact of technology, managing information, changing world of business, the internet, e-business, customer relationship management, legal and social issues,. | BUSINESS WITH CHANGING WORLD LECTURE 6 4- -- Bargaining online Thanks to the Internet, haggling has never been easier, especially in the area of online apparel sales. Video 1 Technology – Impact on Our Lives Information technology– processes and applications that create new methods to solve problems, perform tasks, and manage communication. The Impact of Technology Technology – the application of knowledge, including the processes and procedures to solve problems, perform tasks, and create new methods to obtain desired outcomes Information Technology (IT) is changing traditional products. AFE Cosmetics and Skincare provides customized cosmetics and skin care products. Technology is the driving force in advancing economic systems and the quality of life. Technology – Impact on Our Lives Technology – Impact on Our Lives Improved global access Faster productivity growth Improved efficiency Reduced costs Technology has improved business effectiveness and reach Managing Information Data – numerical or verbal descriptions related to statistics or other items that have not been analyzed or summarized Data, knowledge, & information Managing Information Knowledge – an understanding of data gained through study or experience. Data, knowledge, & Information Managing Information Information – meaningful and useful interpretation of data and knowledge that can be used in making decisions. Data, knowledge, & Information Changing world of business Management information system (MIS) – used for organizing and transmitting data into information that can be used for decision making. Information is a major business resource. It is an asset to be developed and distributed to managers. Changing world of business The Vit Watch information system enhances management at Scheid Vineyards Changing world of business Breaks down time and location barriers Global information access Anytime, anywhere with wireless Management Information System (MIS) Changing world of business | BUSINESS WITH CHANGING WORLD LECTURE 6 4- -- Bargaining online Thanks to the Internet, haggling has never been easier, especially in the area of online apparel sales. Video 1 Technology – Impact on Our Lives Information technology– processes and applications that create new methods to solve problems, perform tasks, and manage communication. The Impact of Technology Technology – the application of knowledge, including the processes and procedures to solve problems, perform tasks, and create new methods to obtain desired outcomes Information Technology (IT) is changing traditional products. AFE Cosmetics and Skincare provides customized cosmetics and skin care products. Technology is the driving force in advancing economic systems and the quality of life. Technology – Impact on Our Lives Technology – Impact on Our Lives Improved global access Faster productivity growth Improved efficiency Reduced costs Technology has improved business effectiveness and reach Managing
