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Exam (elaborations)

BME Exam Study Guide | Questions with Complete Verified Solutions

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  • Course
  • BME
  • Institution
  • BME

E-commerce security - Likely to purchase product online if confident personal and payment info secure - Security increase = consumer confidence increase, e-commerce increase - PayPal, Visa Checkout, Google Wallet How E-commerce security can be improved - Protecting bus. network with firewall ...

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  • August 24, 2024
  • 40
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BME
  • BME
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KenAli
BME Exam Study Guide |
Questions with Complete Verified
Solutions
E-commerce security

- Likely to purchase product online if confident personal and payment info secure

- Security increase = consumer confidence increase, e-commerce increase

- PayPal, Visa Checkout, Google Wallet

How E-commerce security can be improved

- Protecting bus. network with firewall

- Using strong encryption for transmission of data

- Not using default passwords

- Anti-malware software up to date

- Frequent virus scans

E-commerce privacy

,Definition: Security of customer information

- Legal obligation to protect this info

- Clear privacy policy on website, cookies etc.

- Bus. operating globally are subject to privacy laws of each

country AUS Privacy Act 1988

Stability of government China, Japan, South Korea

China

- Not stable

- Low political rights and civil liberties

Japan

- Stable democracy

- 3rd largest economy in world

South Korea

- Moderate corruption

- A lot more stable than most other Asian countries

Technology assisting expansion

Digital Distribution

- Avoid cost, risk, time to manufacture, store and distribute physical product

- (ebooks, music)



- algorithms and software to analyse consumer data

- Identify target markets

Cloud Computing

,- lower costs and time to set up IT infrastructure

- Centralises data

- Enables managers around world to view same info same time

More tech that assists expansion

Augmented reality

- consumers to "test" product at home

Live chat

- 24/7 customer service bot



- Push noti's

- loyalty rewards

- promos, news, polls, events

Purpose + intent of strategic planning process

Purpose

- Set goals +

objectives Intent

- Develop plan to achieve goals + objectives

- Highlights business priorities

Features of strategic plan:

Mission and objectives

Mission:

- Purpose of going into business

- What it wants to achieve

, - How different to competitors

Objectives:

- More detail than goals

- To be achieved short/medium term

PEST

- Political

- Tax laws, industrial regulations laws, enviro laws, consumer protection, trade

regulations

PEST

- Economic

- Interest rates, inflation, unemployment, growth, foreign exchange rates

PEST

- Social

- Pop. growth, religion, lifestyles, value for money + ethics, expectations for safety

PEST

- Technological

- Rate of change, automation, research, development

Porters 5 forces

- New entrants

- Strength of brand loyalty

- Start up capital req.

- Costs in industry

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