Virtual Business Copyright © Texas Education Agency, 2012. All rights reserved.

Virtual Business

WHY A VIRTUAL BUSINESS?

Copyright © Texas Education Agency, 2012. All rights reserved

WHAT IS A VIRTUAL BUSINESS? A virtual business is a business that primarily

conducts business electronically as opposed to operating from a physical location

Very little, if any, face-to-face contact with customers, unless the business is blended with brick-and-mortar

Synonymous with:e-commerceonline businessdigital business

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WHAT IS A NETREPRENEUR

An innovative business owner who conducts business online

See the vision of a “storefront” although the “walls” are not visible

Understand how to get information about customers

Responds rapidly to changes in laws and trends

Know when or if to innovate

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RESOURCES FOR BUSINESS OWNERS SBA – sba.gov http://www.sba.gov/content/starting-

online-business Small Business Development Center –

sba.gov/sbdc SCORE – www.score.org Women’s Business Center –

www.onlinewbc.gov

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http://www.score.org/

INTERNET MILESTONES

ARPANET• Advanced Research Projects Agency• Network created by the U. S. Department of Defense in 1969• Original purpose was for electronic communication in case of

nuclear war or natural disasters

1982• The term “Internet” is born

1991• Internet became available for

commercial use

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VIRTUAL BUSINESS ADVANTAGES Redefines buyer/seller relationships Is open 24/7 Minimizes distribution channels Increases productivity & revenue Unlimited customer reach Affordable Flexible schedule

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VIRTUAL BUSINESS ADVANTAGES(CONTINUED)

Can start quickly Telecommuting Global business

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TYPES OF VIRTUAL BUSINESS

B2B

•Business to Business

•Customers are primarily other businesses

B2C

•Business to Consumer

•Customers are the general public

C2C

•Consumers selling to other consumers

•Typically auction web sites

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BUSINESS USES OF THE INTERNET Business Communications

Internal (employees)○ Email

External (current and potential customers)○ Videoconferencing○ Company web sites

Information GatheringResearch to assist in decision-makingInformation on current and prospective customers

○ Be added to mailing lists○ Product registration○ FAQs

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BUSINESS USES OF THE INTERNET(CONTINUED)

Competitor information○ Product comparisons○ Customer reviews

Improving Business OperationsInventoryShipping informationFinancial statements

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E-COMMERCE CAREERS

Web Designers – Creating web sites Web Developers – May need to know

HTML Web Technologists – Entry level position Customer Service Support – Entry level Technical Writer – Strong

communication and organizational skills

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INDEPENDENT PRACTICE ASSIGNMENTS Internet Timeline – List 10 events that occurred regarding the history of the

Internet and how they have impacted business. At least two companies must also be included in the timeline.

Career Research Newsletter – Students are to create a one-page, two-column newsletter, using either word processing or desktop publishing software, that displays that different career opportunities related to the Internet, such as Webmaster or Web Site Designer. They will conduct Internet research on several of the job-search web sites to locate three job openings. These openings should include the job title, job description, and education, training, or certification requirements.

Report on the Future of E-Commerce – Students will write (or type with word processing software) a properly formatted one-page report on the future of virtual business, based upon population projections listed in the following web site: http://www.census.gov/compendia/statab/cats/population.html The report should contain an explanation of what the projections are and how e-commerce could be affected; for example, whether there will be more users of certain types of web sites, if web sites will be used for different reasons in the future, how different age groups may use the Internet, or if there will be more of certain types of e-businesses in the future.

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http://www.census.gov/compendia/statab/cats/population.html

Virtual Business Copyright © Texas Education Agency, 2012. All rights reserved.

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