Global Change

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Copy of the Accounting G11: Chapter 1 Concept Map

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Global Change

Social Media

Facebook has a global audience more than 500 million users, which is bigger than some “real” countries in the world. In 2010, Twitter added 100 million new users. According to Pew, 73% of adult profile users use Facebook, 48% have profile on MySpace and 14% use LinkedIn

Finacial System

Businesses want new means of financing and consumers want alternatives.

Examples

Digital Wallets

Cashless Financial Systems

Mobile Banking

Crowd Sourcing

You can crowd source just about anything. Netflix created a algorithm for recommending films.

Nike, Starbucks, Dell and Best Buy use digital platforms for there customers to help them with creating new products

The next “industrial” revolution

Robots and smart machines reshaping work

Smart machines and robots will redefine society. Robots are now being deployed as receptionists, banking assistants and even prison guards, while technology allows amateurs to do what professionals once did.

Cons

There will also be the cost to manufacturer and assemble the robots. The real question is how and who is going to pay for it?

There will be HUGE job losses due to the robots taking over basic minimum wage jobs.

Pros

Addressing issues such as caring for ageing populations or services being able to be done more efficiently

Technological Change

There are technologies and trade and policies that affect every business and country that exist. When we get better at transporting things and have greater access to markets, trade gets even more global, and technology and cooperation are really starting to push that.

Driverless Cars

Access spoke to Wired Magazine's co founder Kevin Kelly and he said "I think in two years we'll see certain parts of highway systems where you can turn your car over to the computer within certain parameters." they go on to say that this will cost the United states an estimated $133 billion in 2020.

Online Shopping

The increase of shopping online means the decrease of exclusivity for companies. Now that there are so many ways to get different brands from different sites, Company's compete with there own loyal customers.

An example of this is depot. an app/online site where anyone can sell pretty much anything at any price. this could be bad for companies as people may just look towards these sites to get better deals fro there items that buying it straight from them.