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R1 - Business Context - Coggle Diagram
R1 - Business Context
R1.3 - The Value of Digitalization to Business
Sales & Marketing
Promoting Products > More items / services being sold > more money
Social Media - Brand / Product Promotion
Social Media to promote items and interact with consumers > get feedback on their products > improve products > make more money
However, failing in promoting your brand or dissatisfying customer could adversely lead your product and companies reputations to plummet
Online Opportunities for commence
Due to the amount of access people have to technology today,
Customer Retention
The longer a customer stays with you , the more likely they are to keep using your product / service and the more likely they are to buy from you in the future
Digital Analytics
Using and analyzing social media , websites , apps and so on to find out the click through rate and see what customers are interested in. This means more effort can be put in to improve the more appealing products and services rather than othes.
R1.4 - The Impact of Digitalization on Businesses
Digitalization involves converting business processes over to utilize technology and digital systems.
Brand Differentiation - what sets your brand apart from your competitors, what makes you different from the others.
Brand Values - what the brand of the company stands for and what customers think when they see the company.
Virtualization - to utilize computer hardware resources to create and run virtual resources such as servers , OS , or other devices.
Server Virtualization
Desktop Virtualization
Server Virtualization
Cloud & Elastic Computing Solutions
Companies switching over to cloud computing gain the benefit of:
better connectivity around the world
Faster installation consisting of mere hours
better connectivity :arrow_right: more collaboration around the world
less risk of data loss as data is spread across multiple hard drives
better data security
cost saving
very scalable
R1.1 - Types of Organizations and Stakeholders
Types of Stakeholders
Internal
Owners
Board of Directors
Employees
Departments
External
Consumers
Clients
Direct / Indirect Competitors
Outsourced Services & Suppliers
Shareholders
Investors
Funders
Government (Local / National / International)
Types of Organisations
Public
NHS , Government , Schools , Army
Private
Small / Medium Enterprises (SMEs)
Large Enterprises
Small Office / Home Office (SOHOs)
Non-Governmental Organizations (NGOs)
Voluntary / Charity
Red Cross , British Heart Foundation , National Trust etc.
Business Environments
Business to Customer (B2C) - Products and Services are sold directly to customer
Business to Business (B2B) - A business that sells products and services to other businesses in order for them to function
Business to Many (B2M) - Sells products and services to both customer and other businesses.
R1.2 - Key Factors that can influence the Business Environment
PESTLE
Factors
P
olitical - Stability of Government , Legislation Changes , Global Influences
E
conomic - Countries Growth, employment rates , inflation rates, monetary policy , consumer confidence ,
S
ociological - Income Distribution , Demographic Influences , Lifestyle Factors
T
echnological - International influences , Changes in information technology , take-up rates
L
egal - Tax Policies , Employment laws , Industry Regulations , Health & Safety Regulations
E
nvironmental - Regulations & Restrictions , Customers Attitudes