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ICT in Business and Commerce

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ICT -1) ICT in Business and Commerce - ICT in banking * The banking sector relies heavily on ICT For: � Telephone banking � Internet banking � ATMs � Credit/Debit cards � MICR � Direct debit � Smartcards Shopping on the Internet (E-Commerce) Advantages to the business: * Open 24/7 * By asking customers to "register", businesses can build up databases/customer profiles * People can shop without leaving home * People can search massive online databases to find exactly what they want (see the case study below) A site such as Amazon has reviews of books, CDs and video games. You can read what other people thought of the product before you buy. ...read more.


the distribution of manufacturing goods. International carriers can make huge savings by taking orders over the Internet, and customers can not only make savings but also get online information about exactly where their goods are, and when they are delivered. End of Chapter Exercise 1. A large clothing retailer has decided to set up an on-line store. a) 2 advantages of online selling: 1) There is a huge saving on overheads: no costly warehouse space, rent, heating or employee facilities. 2) It is a valuable market research tool- a list of customers' names and addresses, purchases, likes, dislikes and suggestions can be built up to build customer profiles and databases. ...read more.


2) There are various advertising opportunities and the ability to place attractive advertisement animations on websites- in order to grasp their attention and sell the product. 2) The use of Automated Teller Machines (ATMs), provided by banks and building societies, has become a common way for people to obtain cash. a)i) One Advantage to bank: 1) No need to hire staff for distributing cash and assigning more important jobs to them, thus saving cash. 2) Two Advantages to the customer: No need to queue in long lines. Withdrawing money for customers is much quicker and efficient. b) Advantages of Tracking credit card purchases to companies: It is possible to see whether strange and inconsistent transactions have been made and for instance, a card has been stolen. ?? ?? ?? ?? Nikhil Varadharajan 10J Dr. Onifade ...read more.

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