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How does owning a mobile phone link to economic development? - Coggle…
How does owning a mobile phone link to economic development?
advertising
This can lead to new customers, investors and new workers..
Money
Clients
By getting more clients it will allow the company to grow its profit ! . This will lead to new opportunity's emerging for the company.
Workers
Investors
Investors can see that you're business is sucsesfull by looking at the online banking records of the company. This will make investors more willing to invest growing the company.
money
helps smaller businesses advertize
businesses can recruit online for new employee's
even wider world communication
communication enables easier and smoother trade deals to take place
Countries can reach out to other better countries to beg for money
they can communicate with other distributors around the world
Communication world-wide
This can lead to political negotiations and working together of countries
This can improve business development, and access to a wider market
advertising outside of country company is based in.
Mobile phone banking
Paying employees is faster and more efficient
You can buy and sell products online internationally and locally allowing businesses to process money transactions faster
Business can research and gather information on the current state of the economy
You can open savings accounts. This gives people a secure place to send their money
You can stay financially safe as using digital money is safter than physical money, and it keeps money in the economy
Money management, businesses can track their earnings and spendings
Workers can send remittances to family back home
Paying taxes is more efficient and governments can check records more easily.
Businesses can carry out marketing research and find out what other competing businesses are doiing
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Money managment
Business can track their earning and spending , this helps with keeping onto of loans and being financially independents within their business
Working remotley
This allows online video conferences and emails to be done at home which is good especially in developing countries with lack of transportation and money to pay for such.
