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R1-Business Context - Coggle Diagram

- - - - Owned by the government, they provide goods and services for the benefit of the community.
      - Education, justice, healthcare.
    - - Owned by individuals. Their source of funding comes from personal savings, bank loans.
      - Anyone who works for themselves
    - - Their focus is to make an impact on society. Any money is invested back into the community or the charity itself.
  - - - A person or company that is affected by the operations of the business. They don't have a direct relationship with a business.
      - Customer/consumer
      - Clients
      - Direct/indirect Competitors
      - Shareholders
      - Investors
      - Funders
      - Government
    - - Work directly for the organization and influence the day-to-day operations.
      - Owners
      - Board of Directors
      - Employees
      - Departments
- - - - Self-service checkouts instead of a working cashier
      - Retail customers who shop online via ecommerce websites
      - Using cloud computing to store, distribute and analyse information and documents
  - - - Faster Workload, More efficient use of IT equipment. Reduce operating costs.
- - - - Economic growth, Employment rates, inflation rates, Consumer confidence
    - - Income distribution, Demographic influences, Lifestyle factors
    - - Stability of Government, Potential changes to legislation, Global influences
    - - Tax policies, Employment laws, Industry regulations, Health and Safety
    - - International influences, changes in ICT,
    - - Regulations and restrictions, customer attitudes. Carbon Footprint, Digital waste.
- - - - Channel Engagement- Can boost user engagement across different channels by engaging with more customers and delivering a better experience.
      - Business Growth- The social interaction between businesses and their customers increases sales and improve brand loyalty
    - - Allows the businesses to interact with their customers. They can answer queries, and share news, promotions.
    - - Technology can be used to calculate and track customer/service-user retention rates.
      - Customer retention rate (CRR). Is the number of customers a business has retained over a given period.
    - - Enables them to reach a much larger audience and increases their brand awareness.
    - - Important for promoting and selling products and services. Marketing takes place first and includes identifying the needs and wants of the customer.
    - - Organisations with a larger remote workforce require less office space, and fewer materials and utilities, which in turn reduces costs.
    - - The analysis of digital data that indicates the users behaviors when accessing a business's website, mobile sites, mobile applications, social media and so on.