Legal and Ethical Environment of Business
Legal and Ethical Environment of Business BUL 3130
University of Central Florida
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This 17 page Class Notes was uploaded by Celestine Miller IV on Thursday October 22, 2015. The Class Notes belongs to BUL 3130 at University of Central Florida taught by Charles Lako in Fall. Since its upload, it has received 44 views. For similar materials see /class/227515/bul-3130-university-of-central-florida in Business Law at University of Central Florida.
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Date Created: 10/22/15
Chapter 5 Crime may be a positive or a negative act that violates a penal law that is it is an offense against a state or the federal government Upon being found by a court of law to have committed a crime that is to be convicted the range of possible punishments is set out in the statute that declared the matter to be criminal Crimes and misdemeanors are technically the same thing but in practice a crime represents a more serious offense than a misdemeanor A felony is a serious crime In many states a crime declared to be a felony may be punished by more than a year in prison n federal criminal code crimes are listed in classes or in degrees to denote the seriousness of a criminal charge First degree murder is the most serious It is a murder that has been planned or that was committed with extreme cruelty Second degree murders are not premeditated and are generally receiving smaller punishment Manslaughter may be voluntary or involuntary is an unlawful killing committed recklessly or under influence of extreme mental distress Types of Crimes Murder Rape Sodomy Mayhem Larceny Arson Manslaughter Burglary Whitecollar crimes include nonviolent crimes committed by corporations or individuals Embezzlement bribery fraud and violations of federal and state laws regulating business such as securities laws generally fall into this category Victimless laws are criminal acts in which no other party is immediately involved Misdemeanors generally are classified as crimes that are to be punished by less than one year in prison To be convicted of a crime it must be shown that 1 The accused committed the illegal act Actusreus 2 That there was necessary intent or state of mind to commit the act Mensrea Criminal acts need not be planned they may be based on negligence criminal negligence If a crime is not prosecuted within the time set by the statute of limitations then the state loses the right to bring suit The statute of limitations may toll that is the clock stops running under certain circumstances such as if one has fled the country to avoid prosecution Specific defense may be raised in criminal cases such as intoxication insanity selfdefense entrapment Is evidence is gathered improperly then it may not be used at trial under the exclusionary rule Before authorities may search property or persons and seize evidence unless they are in llhot pursuit of a suspected criminal a warrant must be obtained first A warrant is issued by a judge or appointed magistrate who in the name of the state authorizes an officer to search for and seize any property often called personal effects that may be evidence of a crime To obtain the warrant the law enforcement officials must show probable cause to the judge The defendant may plead guilty no contest or innocent when appearing before the judge during the arraignment The rule against double jeopardy prevents a defendant from being tried a second time for the same crime Whitecollar crimes Antitrust Bribery Counterfeiting Credit Card fraud Computer and internet fraud Economic Espionage Embezzlement Environmental Law violations Financial Fraud Government Fraud Healthcare Fraud Insider Trading Insurance Fraud Mail Fraud Money Laundering Racketeer Influenced and corrupt organizations act Securities Fraud Tax evasion Telephone and Telemarketing Fraud Wire Fraud Chapter 6 Torts Latintortus quottwistedquot French wrongquot a civil wrong other than a breach of contract for which the law provides a remedy A liability id imposed for conduct that unreasonably interferes with the interests of another There are three typed of torts negligent intentional and strict liability or without fault Tort law is a civil law Murder is criminal wrongful death is civil All criminal conducts whether intentional or negligent are torts but not all torts are crimes To determine whether s person s conduct is negligent the law applies a standard of reasonableness The standard is usually stated as ordinary care or due care as measured against the conduct of a hypothetical person called the reasonable person In some cases the plaintiff states a case that is so obvious that the doctrine of res ipsa loquitur the thing speaks for itself applies Cause in fact is established by evidence showing that a defendant s action or inaction is the actual cause of an injury that would not have occurred but for the defendant s behavior Courts express this in the form ofa rule commonly referred to as the but for or sin qua non rule Proximate cause limits liability to consequences that bear a reasonable relationshipp to the negligent conduct will not result in liability A person s act may set offa chain of events and injuries that were not forseeable Proximate cause has been criticized as difficult to understand and apply Some states have joined in replacing the proximate cause rule in negligence actions in favor of the legal cause rule which uses the substantial factor test The substantial test states lla legal cause of injury is a cause which is a substantial factor in bringing about the injuryquot If the casual relationship between the defendant s act and resulting harm is broken by the intervening act which was unforeseeable under the circumstances the defendant will likely not be liable An injured party who voluntarily assumed the risk of harm arising from the negligent or reckless conduct of another may not be allowed to recover compensation for such harm Such action by the injured party is called assumption of risk Under comparative negligence damages are reduced by the percentage of the injuries caused by the plaintiff s own negligence Intentional torts are classified on the basis of the interests the law seeks to protect personal rights and property rights Tortfeasors are persons who commit torts Intentional torts are based on willful acts that invade protected interests Major categories of torts Assault is intentional conduct directed at a person that places the person in fear of immediate bodily harm or offensive contact The protected interest is freedom from fear of harmful or offensive contact Actual contact with the body is not necessary The person in danger of harm or injury must know of the danger of suffering a battery and be apprehensive or its threat Battery is an unlawful touching which is intentional physical contact without consent The protected interest is freedom from unpermitted contact with one s person Even if the contact does not cause actual physical harm it is unlawful if it would offend a reasonable person s sense of dignity Common defense to Assault and battery are consent privilege selfdefense defense of others and of property False imprisonment or false arrest is the intentional holding or detaining of a person in violation of a protected interest in freedom from restraint of movement The detention need not be physical verbal restraints such as threats may be the basis of an action for false imprisonment In iction of emotional distress or mental distress involves conduct that is so outrageous that it creates severe mental or emotional distress in another person The protected interest is peace of mind Invasion of privacy this tort may be committed in a number of ways 1 The use of a person s name or picture without permission which can make advertising and marketing companies liable 2 The intrusion into a person s solitude illegal wiretapping or searches of a residence harassment by unwanted and continual telephoning 3 The placing of a person in a false light publishing ofa story with serious misinformation 4 The public exposure of facts that are private in nature such as public disclosure of a person s drug use or debts The right to privacy is largely waived when a person becomes a public figure such as an entertainer or a politician or a sports personality The publication of information about an individual taken from public records does not constitute an invasion of privacy Defamation is an intentional false communication that injures a person s reputation or good name If defamatory communication was spoken slander is the tort If the communication was in the form of printing a writing a picture or a radio or television broadcast the tort is libel Some statements are considered defamation per se meaning they are presumed by law to be harmful to the person to whom they were directed and therefore require no proof of harm or injury Defamation does not include damage to the reputation of a person it can involve damage to the good name of a business Truth and privilege are defenses to an action for defamation If a statement that caused harm to a person is in fact the truth some states hold that truth is a complete defense regardless of the purpose or intent There are three types of privileges depending on circumstances Absolute an immunity applied in those situations where public policy favors complete freedom of speech Conditional eliminates the liability when the false statement was published in good faith and with proper motives such as for legitimate business purpose Constitutional protects the members of the press who publish quotopinionquot material about public officials public figures or persons of legitimate public interest This privilege is lost if the statement was made with actual malice that is the false statement was made with reckless disregard for the truth Chapter 7 Persons in business are presumed to have a level of expertise that holds them to a higher level of care than is expected ofa nonprofessional in the same situation When a person suffers an injury due to deliberate deception there may be a tort of fraud misrepresentation fraudulent misrepresentation or deceit There is often a breach of contract when this issue arises Intentional interference with contractual relations is that the injured business s contractual relations were wrongfully interfered with by another party Statute defraud any real estate transactions where a transfer of property goes from A to B must be in writing or the transfer is not valid and the contract of the transfer is unenforceable If a contract cannot be performed within 1 year of the day it is signed the contract is unenforceable unless it is in writing Parol evidence rule you cannot bring an oral testimony into the court room to alter the terms of a contract It is a tort when a business attempts to improve its place in the marker by interfering with another s business in an unreasonable and improper manner it is called interference with prospective advantage Product liability involves primarily tort law but also involves some contract law and statutory law This concerns the liability that producers and sellers of goods have to those injured by a product A manufacturer is required to exercise reasonable care under the circumstances in the production of its 1 product Liability may be imposed on the for Uquot in the r r 39 of the product for failing to inspect or test the materials for below normal quality workmanship or for failing to discover possible defects Reasonable care must also be taken if presenting the product to the public through advertisements or other r 39 to avoid I The strict liability holds manufacturers liable to consumers injured by defective products even though the manufacturer exercised all reasonable care Strict liability under contract law is based on the relationship between the injured party and the manufacturer because of the existence of a warranty Consumer injury caused by food or drink is a breach of implied warranty of safety and manufacturer is strictly liable for the injury When manufacturers advertise quality or performance characteristics of their products it is called express warranty Manufacturer is held to have a duty of performance as to that representation Section 402A Second 1 One who sells any product in a defective condition unreasonably dangerous to the user or consumer or to his property is subject to liability for physical harm thereby caused to the ultimate user or consumer or to his property if a The seller is engaged in the business of selling such a product and b It is expected to and does reach the user or consumer without substantial change in the condition in which it is sold 2 The rule stated in subsection 1 applies although a The seller has exercised all possible care in the preparation and sale of his product and b The user or consumer has not bought the product from the standard appears to contractual relation with the seller The newer version of Section 402A Restatement of torts focuses more on what it calls quotriskutility balancing That is some products cannot be made safe It also encourages courts to move away from the distinction between negligence and strict liability The focus is on functionality not traditional categories so all products are expected given the risks and utility of their products to meet the standard expressed in section 2 Strict liability in tort or product defect law as referred in Restatement third is the most common way to discuss liability got defective products There are three key areas 1 A defect in the product from manufacturing 2 The manufacturer failed to warn the consumer of risks of use or of known hazards in certain uses of the product 3 The product had a design defect in it that could have been avoided The manufacturer is liable for any injury caused by defect in the product from the manufacturing stage Manufacturer must warn of possible dangers in the use storage and handling of their product Manufacturer is liable for any injuries caused by negligence in warning the consumers about the possible hazards of using the product Manufacturers are liable for injuries caused by poorly designed products Defenses in product liability suits Product misuse Assumption of Risk The Bulksupplier Doctrine Sophisticated user defense Chapter 8 Real property refers to land things under the land such as oil and minerals and things solidly attached to the land such as buildings and trees Property is a legally protected expectation of being able to use a thing for one s advantage A deed is the primary way to transfer ownership interests in property Deeds are in writing and transfer title from the current property owner to the new owner They identify the original owners describe the land identify the new owners and state the ownership is being transferred possibly subject to certain conditions There are three different types of deeds Warranty deed seller warrants that she has good marketable title to the realty and will defend the title against the world meaning anyone who would claim they have a better form of title to the property Limited warranty deed same as above except something in the nature of the title has a limitations which is specific in the deed Quitclaim deed seller does not claim to have any right title or interest in the realty yet conveys title to the realty by this type of deed Most frequently used personal representative of estate conveys realty from the estate to an heir or buyer of the realty in divorce between the spouses out of a bankruptcy in these instances title is valid and good title FAS or Fee Simple Absolute is the highest and the best form of property ownership which faced the choosing fee simple or fee simple absolute choose the later as the most correct answer Tenancy in common is a form of ownership in which each tenant owner has an undivided interest in the property If one owner dies his half of right to the property does not transfer to the other owners it transfers to hisher estate or to the heirs she has named Joint tenancy is a purchase of property by two or more persons who have the same interest in the undivided possession of property In joint tenancy there is a right of survivorship which means that if one owner dies the ownership right passes to the other owner Life estate gives a person the right to be a tenant for life in a piece of property This may be done so that family member has the right to occupy a piece of property until their death at which point the title to the property passes to the heirs who have been named by the owner of the property Life estates are measured by the life of the person who the property has been given to or the life of another person If the estate is measured by the life of another person it is called estate purautre vie Servitudes are limitations or requirements about the use of property The most important forms of servitudes are easements and covenants Statute of Fraud states that no transfer of any interest in realty from anyone is enforceable unless the transfer is in writing Easement is a right to enter land owned by another and make certain use of it or to take something from land An easement is not ownership or right to possession of an estate but a burden on another person s estate that is the right to use it for some purpose without payment Positive easement allows the easement holder to go on the estate for certain purposes A negative easement would be giving up a right that the owner of an estate would normally have One may also give or sell the right to remove valuable things from one s estate such as oil minerals or trees this right may be referred to as a profit Adverse possession is a hostile use of another person s land that is someone who has no right to occupy or use an estate does so without permission General conditions needed for adverse possession are that it must be Actual the adverse user in fact uses or possesses the property in question Open the user or possession must be visible so that the owner is on notice Hostile the use or possession is without permission of the owner PPN Exclusive the use of possession is not shared with others who also have no right to use the property 5quot Continuous the use or possession must go on without major interruption for as much time as required by law to obtain the easement by prescription or title by adverse possession Covenants is not a legal interest in an estate but may be thought of as a contract with an estate The covenant is a binding obligation that goes with the property when it is transferred to a new owner who must abide by the covenant Leasehold is the renting of a property A tenant is a party with possessory rights for a fixed time period or at will as agreed upon A lease is an agreement that creates a leasehold out of an estate and contains conditions such as how much rent is to be paid and what restrictions have been placed on the use of the property A tenant has a legal interest in the property rented and has the right of possession during the term of the lease Other parties may be kept out of the property including the landlord with some exceptions The landlord has a privilege to enter the premises to make necessary repairs A tenant has the right to use the property but not to abuse it by making changes that will affect the property beyond the lease term Waste is the intentional destruction or removal of valuable property such as trees from the premises Commercial leases is leasing of property by the owner for commercial purposes Eminent domain created originally in the US constitution and also appears in state constitutions permits the taking of realty so long as the owner is I paid lljust compensation for the realty taken and II The realty is taken for public purpose widen a road drainage etc Police power is to regulate behavior to protect or promote the llgeneral welfare Zoning is the primary method of local land control Zoning rules commonly limit building height and size require green areas set population density limits decide what kinds of buildings and businesses can be built where and set numerous rules about the quality and type of construction that must be used Tort actions that may be initiated for intentional violations of property rights of another include trespass to land nuisance trespass to personal property conversion and misappropriation Common law doctrine protects the owner of the realty from these two types of torts It permits the owner to protect her interests in the land if there is no other law protecting the owner from the type of conduct being committed against the owner s realty Trespass to land is an unauthorized intrusion by a person or a thing on land belonging to another Unless we invite people to our property they are trespassers and we have no obligation to protect them against accidents There are two kinds of nuisance private nuisance and public nuisance A private nuisance is an activity that substantially and unreasonably interferes with the use and enjoyment of land The interference may be physical the destruction of crops or the throwing of objects upon the land Public nuisance is an unreasonable interference with a right held in common by the general public The intentional and wrongful interference with possession of personal property of another without consent if a trespass to personal property The tort of conversion is an intentional and unlawful control or appropriation of the personal property of another 39239 Supply Chain Management SC linvolves the management of information ows between and among stages in a supply chain to maximize total supply chain effectiveness and pro tability Manufacturing Supply Chain Suppliermultip1egt Manufacturergt WholesalerDistributongt Retailergt Consumers Five basic components of SCM don t forget StargeyLogisticsOperationsPaItner l PLAN Must have plan for managing all resources develop set of metrics to monitor SC so that it is ef cient cost less and is of high quality and value 2 SOURCE Must carefully pick reliable suppliers and develop metrics to monitor relationship monitoring metrics amp methods for managing shipments verification transportation and payment L V MAKE Step where companies manufacture there product Most metricintensive portion of the supply chain measuring quality levels and production output and worker productivity 4 DELIVER Process that plans for and controls the transportstorage of supplies to customers Coordinate order receipt develop warehouse distribution network select carriers create invoicing and payment settlement systems 5 RETURN Most problematic step Create network for receiving defectiveexcess products Bene ts of Supply Chain Visibility Supply Chain Visibility is the ability to view all areas up and down the supply chain It is beneficial because an organization can use technology tools that help them integrate upstream and downstream with both customers and suppliers the bullwhip effect in which disruption intensi es throughout the supply chain Distorted product demand information passes from one entity to the next throughout the supply chain which could result in inaccurate inventory management Disintermediation cutting out the middleman example DELL SCM and cost control using SCM allows companies to be more efficient effective reducing costs Info 39 by a typical SCM system integration of processes through the supply chain to share valuable information including demand signals forecasts inventory transportation potential collaboration etc Upstream customer demand to company Downstream product to customer ERP vs SCM each has a distinct focus 0 m is primarily intraorganizational used within a single organization INTERNAL integrates all departments and functions throughout an organization into a single IT system 0 M is largely interorganizational used across organizations EXTERNAL management of information ows between and among stages in a supply chain to maximize total supply chain effectiveness and pro tability Supply Chain Decisions 0 Production What are we producing When are we producing it Where are we producing it 3 primary components when determining a facility strategy for production I l Location An organization must determine where to locate its facilities Two primary options determine facility location 0 l Centralize the location to gain economies of scale which increases efficiency 0 2 Decentralize the location to be closer to the customers which increases effectiveness I 2 Capacity Facility with excess capacity provides the exibility to respond to wide swing in demand this is an effectiveness strategy Excess capacity however costs money and can therefore decrease efficiency 3 Operational Design An organization must determine on a product focus or functional focus for its operational design Product focus design anticipates production of only a certain type of product highly efficient in one product Functional focus design anticipates the facility will perform a specific function on many different products effective 0 Invent01 y How much inventory do we need There are 2 types of inventory strategies an organization must consider I 1 Cycle Inventog the average amount of inventory held to satisfy customer demands between inventory deliveries I 2 Safety Inventory extra inventory held in the event demand exceeds supply 0 Transportation How will we get goods from A to B There are 2 primary facets of transportation an organization must consider I 1 Method of Transportation an organization must decide how it wants to move its inventory through the supply chain Expensive effective methods ensure speedy deliveries Inexpensive efficient methods ensure cost savings I 2 Transportation Route Distribution management software coordinates the process of transporting materials from a manufacturer to distribution centers to the final customer Global inventorv system provides the ability to locate track and predict the movement of every component or material anywhere upstream or downstream in the supply chain Logistics controls transportation and storage all the way from suppliers to customers Inventorv 39 and Control Software provides control and visibility to the status of individual items maintained in inventory Maintains inventory record accuracy generates material requirements for all purchased items and analyzes inventory performance Has information of current inventory order status cost accounting and sales forecasts Transportation Planning System gTPS tracks and analyzes the movement of materials and products to ensure the delivery of materials and finished goods at the right time the right place and the lowest cost SCM Drivers tradeoff between Effectiveness customer satisfaction conversion rates sell through increases amp Efficiency throughput speed availability less costly faster 0 Facilities Driver transforms inventory into another product or stores the inventory 0 Inventory Driver inventory s impact on a company s effectiveness vs efficiency can be enormous EffectivenessMore Inventory EfficiencyLess Inventory 0 Transportation Driver EffectivenessCostly Transportation EfficiencyLess Costly Transport 0 In ormation Driver I Effectivenessonly select info shared Efficiencyfreely share info I Pull receive or request info efficient no cost to send information non effective unknown inventory levels I Push constantly send info effective non efficient cost of sending info Upstream and Downstream links to the Supply Chain 0 3 Main Links to Supply Chain I 1 Materials ow from supplier and their upstream suppliers at all levels I 2 Transformation of material into semifmished and finished products through the organization s own production process I 3 Distribution of products to the customers and their downstream customers at all levels 0 Upstream always starts with customer money goes upstream o Downstream product from supplier Supply Chain Execution Software gSCE automates the different steps amp stages of the supply chain Demand Planning Software generates demand forecasts using statistical tools and forecasting techniques 39139 Custom er nIAJ I llI CRM involves managing all aspects of a customer s relationship with an organization to increase customer loyalty and retention and an organization s pro tability gt Organizations can nd their most valuable customers through RFM 7 I Recency How recently a customer purchased items I Freguency How frequently a customer purchased items I Monetary Value How much a customer spends on each purchase Goals of CRM to ultimately win over customers and recognize them as experts rather than just revenue generators so that they are likely to be loyal and devoted customers that are not easily swayed by competitors 0 To manage multiple channels of interaction with customer I Have them interact with your company 0 To provide an integrated picture of each customer I What do they need or want 0 To enable analysis of customerrelated information I Manage information to increase customer satisfaction Bene ts of CRM Provide better customer service 0 0 Improve call center efficiency 0 Crosssell products more effectively 0 Helps sales close deals faster 0 Simplify marketing and sales processes 0 Discover new customers 0 Increase customer service Operational CRM customerfacing CRM 7 0 Supports traditional transactional processing for daytoday frontof ce operations or systems the deal directly with the customers 0 Analytical component I Supports back office operations and strategic analysis and includes all systems that do not deal directly with the customer customer pro ling 0 Collaborative component I Directed toward improving customer interactions Example Livechat 0 Operational CRM Technologies marketing sales customer service How can CRM increase revenue 0 Providing productsservices that match customer wantsneeds Improved and more ef cient customer service More effective cross selling Higher sales closing rates and faster sales closings Higher customer retention rates Improved customer acquisition Allows you the opportunity to know what your customers want OOOOOO 0 0 0 CRM reporting 39 39 and predicting 0 Reporting technology helps organizations identify their customers across other applications Asking what happened 0 Analyzing technologies help organizations segment their customers into categories such as best and worst customers Asking why it happened 0 Predicting technologies help organizations make predictions regarding customer behavior such as which customers are at risk of leaving Asking what will happen 0 Data Mining Technigues process of analyzing data to extract information 0 Association Detection reveals the degree to which variables are related and the nature and frequency of these relationships in the information Market BasketAnalysis Wal Mait looks at basket and determines what products could be promoted together 0 Cluster Analysis a technique used to divide information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible segments customer information and identifies behavioral traits 0 Statistical Analysis performs information correlations distributions calculations and variance analysis e g Forecast amp TimeSeries Informationpredicts future Market Basket Analysis which product combinations are bought Digital Dashboard a display of information from a variety of sources that has been placed together to aid in decision making Uses indicators to help executives quickly identify the status of key information or critical success factors Why the need for Decision Support System DDS Allows managers to examine performance and relationships over the supply chain and among Suppliers Manufacturers Distributors and other factors that optimize supply chain performance 0 Quantitative Models whatif goalseeking sensitivity analysis 0 Interactive Voice IVR directs to use touchtone phones or keyboards to navigate or provide information o Predictive Dialing automatically dials outbound calls and when someone answers the call is forwarded to an available agent 0 Personalization occurs when a web site knows enough about a persons likes and dislikes that it can fashion offers that are more likely to appeal to that person eBusiness the conducting of business on the Intemet not only buying and selling but also serving customers and collaborating with business partners 0 Origins of the Internet in the 60 s the intemet began as an emergency military communications system operated by the Department of Defense named ARPANET 0 Application Service Provider ASP offers access over the Internet to systems and related services that would otherwise have to be located in organizational computers company that hosts your computer applications for you 0 B2B Business Model applies to businesses buying from and selling to each other over the Internet o The Internet s impact on information 0 Easy to compile 0 Increased richness worth 0 Increased reach 0 Improved content 0 Reasons for the recent emergence if e husiness need networks they are fast reliable amp cheap I Convergence coming together on diff technologies Critical Mass value if tech increases as more people use it I C 39 quot impacts ofE I Network Effects email is more valuable I New markets products competition I Channel Con icts retailers challenged by manufacturers Levy amp Sears 0 How e business improves 39 efficiency because it is fast and cheap saves everyone 0 Digital Divide when those with access to technology have great advantages over those without access to technology 0 Market intermediaries and re it quot quot o Intermediaries agents software or businesses that bring buyers and sellers together that provide a trading infrastructure to enhance ebusiness o ReIntermediation using the Internet to reassemble buyers sellers and other partners in a traditional supply chain in new ways companies become the gobetween seller and buyers 0 On line Brokers vs Market Makers 0 Online Brokers a brokerage that provides trading services to its clients over the Internet simply putting a buyer and seller together a gobetween 0 Market Makers a brokerdealer firm that accepts the risk of holding a certain number of shares of a particular security in order to facilitate trading in that security ex Car Max Market Maker vs Local Car Lot Brokerex Stock Exchange processes and rules involved 0 Wireless Internet Service Provider W ISP an ISP that allows subscribers to connect to a server at designated hotspots or access points using a wireless connection 1 mile tmobile hotspot 0 Wireless Fidelity gWiFi Wireless networking technology that makes use of access points to wirelessly connect users to networks within a range of 120600 feet 32190 meters 0 Web 20 this is a set of economic social and technology trends that collectively form the basis for the next generation of the intemet A two way street you can contribute your own ideas info I Google blogs Facebook Youtube 0 Reasons for growth of the WWW o Microcomputer revolution Intel microprocessor IBM PC 0 Advancements in networking broadband access 0 Easy browser software cheap free easy to use 0 Speed convenience and low cost of email 0 Web pages easy to create and flexible o E Procurement the B2B purchase and sale of supplies and services over the intemet o DismntiveT 39 VS T 39 o Disruptive Technology a new way of doing things that initially does not meet the needs of existing customers It opens new markets and destroys old ones ex Polaroid o Sustaining Technology produces an improved product customers are eager to buy such as faster car or larger hard drive Provide us with better faster and cheaper products in established markets 0 Pure Play business an organization that does ALL of there business on the Internet does not have any physical brickandmortar stores ex Amazoncom 0 Content Provider rm which supplies content on interviews new developments news stories etc that can be employed to make a publication or site more attractive and useful to its readers as opposed to those who just deliver it to us espn amp cnn
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