LESSON 8

ENTREPRENEURSHIP AND INFORMATION AND COMMUNICATION

TECHNOLOGY

LEARNING OBJECTIVES
LO1. Define the role of ICT for entrepreneurs;
LO2. Illustrate the overview of ICT in business;
LO3. Describe the different computer application used for business;
LO4. Explain the role of the internet for Entrepreneurs;
LO5. Analyze the expansion of the internet in business; and
LO6. Appreciate the rise of food application delivery.

INTRODUCTION
In recent decades, information and communication technology (ICT) has rapidly,
and it has become incorporated into all parts of people's lives. This has resulted in new
commercial and individual opportunities (for example, social networks, information
seeking and sharing), as well as a better quality of life (Buar, 2001). Modern ICT
technologies can save money while enhancing productivity and effectiveness on an
individual and organizational level. Thanks to technological advancements, many tasks
may now be completed more efficiently and successfully. For example, information and
communication technology (ICT) provides for the testing of various decision-making
scenarios. This is why many people believe that information and communication
technology (ICT) may be used to help people become more entrepreneurial. Learning
possibilities, company planning solutions, database tools, and business
telecommunications are all possible with ICT.
The use of information and communication technology (ICT) to demonstrate how
far the world has evolved is common. We've observed an increase in trade benefits as a
result of this. The growth of mobile phones and the arrival of smartphones have
enhanced access to the internet on the go. The replacement of traditional table- top
telephones with mobile phones has thrown the telecoms industry into disarray. For
many people, mobile phones and the internet have spawned new sectors, businesses,
and professions, as well as impacting entrepreneurship and business strategy.
The Information Age is approaching quickly. Transactions and information can be
packaged using data. To make room for the abstract and digital, the physical is
dissolving. The internet and information in general, are defining and determining faces a
business risk the modern world. A company that works in a technologically dependent
industry.

DISCUSSION

OVERVIEW OF THE INFORMATION AND COMMUNICATION TECHNOLOGY IN

BUSINESS

All digital technology that aids individuals, businesses, and organizations in using
information is referred to as ICT. It applies to all electronic products that deal with digital
information. As a result, ICT is concerned with the storage, retrieval, and transmission
of digital data.
ICT is a crucial channel for development since it facilitates the provision and
access of a wide range of financial services, increases efficiency in institutions and
enterprises, reduces costs, and promotes and enhances communication. It also
includes themes that connect information and communication technology to
urbanization and demonstrate the necessity of ICT in the delivery of urban services. It
explains how information and communication technologies (ICT) may help to promote
and ensure urbanization, which has become the norm in 21st-century life and is one of
the most pressing problems to achieving economic development and a higher standard
of living. Furthermore, big data as a tool for development cover subjects such as how
the vast amount of digital data generated by the global population may be examined to
aid decision-making and provide policymakers with actionable insights. It also
emphasizes the importance of big data in advancing different facets of growth.
Information is seen as an asset of value. There is an abundance of information
that is transferred at a fast rate because of technology. People only need a click of a
button to obtain information.

Computers may be used in aspects of the entrepreneurial ventures. A computer

is a machine that manipulates data according to a predetermined sequence of
commands to produce the desired result.
The operational applications that computer technology brings to business include
accounting, record keeping, mailing, and other repetitive data-oriented operations.
The explosive growth in the world market of ICT comes from a confluence of five
factors:
1. Internet saturation in the US
2. Lower PC cost
3. More PC users and owners globally
4. Worldwide deregulation of telephone companies
5. Alternative internet diversity system
Computer technology in business will prove to be advantageous rather tha
ability, especially if a business has the correct computer format, program desi
und a knowledgeable user.

THE INTERNET AGE IN THE PHILIPPINE SETTING

The Philippines has raced towards the age of computers and information
Ind communication technology: There is a market rise of schools offering IT and
jumputer-related courses in the country.
The government enacted Republic Act 8792, otherwise known as the
Metronic Commerce Act, which is done to make the country IT-related in various
hids of business and commerce. It aims to make domestic and international
minsactions better and easier through the use of new communications technology.
The law also contains provisions about cybercrime.

COMPUTER APPLICATIONS IN BUSINESS

1. E-Commerce (Electronic Commerce)- computer-based communication
technology is now commonly being applied in various business processes.
Electronic Commerce (E-Commerce) is à general concept covering any form of
business transaction or information exchange executed using ICT.
• It takes place between companies and their customers or between companies
and public administrations.

Internet is the only scope of E-Commerce. It is categorized into three areas:

1. Electronic Market - It is use of information and communication
technology to present a range of offerings available in the market
segment so that the purchaser can compare prices (and other attributes)
of the offerings and make a purchase decision. An example is Airline
Booking System.
2. Electronic Data Interchange (EDI) - provides a standardized system
for coding trade transactions so that they can be communicated
directly from one computer system to another without the need for
printed orders and invoices and the delay and error implicit in paper
handling.
3. Internet Commerce - ICT can also advertise and make a one-off sale
of a wide range of goods and services.

The internet - is a collection of computers and computer networks linked to

receive and distribute information worldwide.
Electronic Mail (E-Mail) - is one of the internet features commonly used by
people. The e-mail allows the user to send messages to the recipient in any part of
the world and vice versa. Email allows the convenience of retrieving the messages at
times convenient for the user.
File Transfer Protocol (FTP)-allows the administrator of a specific computer
system to let other users log on it but only on specific data files. This allows a user to
be able to upload and download files from other computers.
Gopher is a non-web-based internet tool that permits users to find and
download files that the user would think is relevant to the array of subjects or topics
being sought.
Internet Relay Chat (IRC) - a feature wherein a user may send and receive
electronic messages to and from a "chat room" on topics they share interests with.
e.g. FB Messenger, Viber, WeChat.
Search Engines - A web-based tool that allows users to search the network for
information that the user is interested in. e.g., Yahoo, Google. the one currently being
used
Telnet - These features allow the users to access or use computers other than
Usenet- commonly known as a newsgroup in which the user can join discussion
groups that talk about a particular news interest.
World Wide Web - features the user to navigate the internet. It uses the
technology of hyperlink enabling the user to jump from one document to another.
THE INTERNET IN ENTREPRENEURSHIP
The introduction of computer-related hardware and software applications quickly
and radically alters how business is viewed. The computer-based technology levels the
playing field as both the small enterprise. This leads to small enterprises are using
computer-related technology in their business.
Food delivery has been one of the services people all around the world have
relied on since pandemic, making it one of the essentials. In the country, this service
ranges from takeaway fast food orders to bringing groceries to the doorsteps to stock in
the pantry. It helps people be safe from the threats of COVID-19 outside and also aids
new breeds of entrepreneurs with their latest food business endeavors. With that, the
food delivery business in the Philippines has grown, amounting to a total of $1,2 billion
in gross merchandise value (GMV) at the end of 2020 with the overall food delivery
sector across Southeast Asia (SEA) enjoying an exponential 183% growth in 2020.

WHAT CAN THE INTERNET DO FOR THE BUSINESS?

1. Using the internet, you can compete on both a local and worldwide acale,
2. With the internet, information is available every time.
3. The internet can establish a presence of the venture to keep people aware of your
services and products,
4. The internet can provide instant access to catalogs or other information.
5. The internet allows entrepreneurs to establish a direct relationship with customers.
6. Customers and buyers may be uploaded on new products and services using the
internet.
7. With the internet, the venture may provide helpful information and answers to
frequently asked questions.
8. The internet may be used as in the inexpensive form of marketing research,
9. It is possible to place an unlimited amount of information on the internet.

GUIDELINES IN MAKING INTERNET USEFUL IN YOUR BUSINESS

These benefits indeed bring a significant impact on the business. To further help
entrepreneurs strengthen the choice of using the internet and information technology in
business, here are some robust guidelines gathered from success online and global
entrepreneurs to help you establish a new approach for your business:
1. Add Value.
2. Fill a need.
3. Provide instant gratification.
4. Link your business with the tie that binds.
5. Make it simple.
6. Beware the pig in the python.
7. Try to get what you pay for.
8. Respect the system.
9. Stay focused and patient.
10. Service with browsers.
11. Be realistic.
12. Play it safe.
13. Give customers what they want.
14. Make a profit in order to progress.
15. Recognize the value of ads on the internet.
16. Use netiquette.
17. Make the change from platform to forum.
18. Rapidly deploy technology.
19. Be prepared for universal access.
20. See virtual support.
21. Take advantage of the global modification.
22. Think locally, act globally.
23. Build your toolset.
24. Know what you are looking for.
25. Provide ease of interactivity.
26. Teach yourself for more than a new language.
27. Shape the future.
28. Keep up the speed of change.
29. Move into the information age.
30. Recognize information's potential.
GETTING YOUR BUSINESS ONLINE
Generally, business via the internet is two ways. It may either be that the venture
is using the Web as an adjunct in doing its business operations or that the venture's
mode of transaction is solely based on the internet.
1. Significant activities that took place are business-to-business (B2B) and consumer
retail.
2. B2C and B2B are two forms of commercial transactions, B2C, which stands/
business-to-consumer, is a process for selling products directly to consumers. B2B,
which stands for business-to-business, is a process for selling products or services
to other businesses. The business systems that support B2B or B2C communications,
transactions, and sales administration differ in complexity, scope, scale, and cost, so
you must implement the right system for yoour customers.
3. Electronic commerce strengthens all the elements of the sales cycle, from marketing
to product support. It shows that this is the time for entrepreneurs to consider the use
of computer technology in business.
4 Here are the steps in launching business online. This will help the entrepreneur in
achieving the potential of venture-using cyberspace.
a. Set the tone.
b. Get connected.
c. Terms and Condition
d. Ensure a client.
Setting the Parameters of the Products and Services for Entrepreneurs
It is the fact that there is also the presence of competitors in cyberspace. All of
you compete for the customer's money. Amidst these product similarities and
competition, there is urgency.
1. Strategies for International Online Marketing
International Online Marketing can be very financially rewarding after a considerable
amount of time. Here are the strategies:
a. Using Banner Ads
b. Local Advertising
c. Cyber Café Advertising
d. Banner Ads
e. Social Media Marketing
2. Business Expansion via Internet
a. Internet Expansion Enhancements
 Undertaking research
 Making contracts
 Raising capital
b. Merging and Acquiring: Looking for Companies to Buy
c. Increasing Valuation
Internationalizing a Website
Marketing to an international arena is a complex and challenging process. While
trying to balance product quality and delivery, on the one hand, one has to juggle
multicultural promotions with the other. Here is the best advice:
1. Include proper contact numbers.
2. Encourage e-mail.
3. Specify your customer support hours.
4. Watch your dates.
5. Think metric.
6. Remember other cultural differences.
7. Offer multiple payment options.
8. Follow local tax guidelines.
9. Avoid using slang.
CHALLENGES IN THE USE OF THE INTERNET IN THE PHILIPPINES
These are the hurdles not to discourage entrepreneurs but instead provide the
whole picture for those seriously considering this technology.
1. Added security is needed.
2. Additional resources and time are needed to be spent.
3. Computer-dependent operations experience hard times when technical problems
come up.
4. The Philippine E-commerce law has commendable provisions, but implementation is
of question.
5. There is still a limited number of Filipinos that have access to computers.

THE GROWTH OF ONLINE ORDERING AND FOOD DELIVERY

 The food industry has gone through a significant revolution in the recent past.
Customers can now easily order food online and have it delivered to their homes within
the shortest time possible.

THE RISE OF FOOD DELIVERY BUSINESSES

Changing trends in the food delivery sector have resulted in more than half of all
customer orders being delivered directly from restaurant apps or websites. Digital
ordering and meal delivery are increasingly being handled by restaurants and other food
businesses utilizing a number of approaches.
Food delivery has grown into its own sector, with various internet providers
competing for market share. These online platforms are altering the food delivery
sector, despite the fact that they draw a lot of money and have a high valuation. The
most frequent way of meal delivery has historically been the traditional restaurant
model.
Using this method, a customer walks into a restaurant and places an order. They
must then wait for the restaurant to complete their order and deliver the food to their
table or to the cashier. The rise of digital technology has altered the market and altered
the process of food delivery. Rather than visiting the restaurant, customers are now
placing orders through restaurant apps and websites.

CHANGE IN FOOD BUSINESS MODELS

A change in the business model used by restaurants is one of the reasons for the
expansion of online ordering and meal delivery. Restaurant delivery services have been
commonplace in recent years, with a variety of fleet types emerging.
This includes same-hour or same-day delivery, as well as party delivery, next-
day delivery, and other options. Single fleet models, multi-fleets, in-house fleets and
crowd-based fleets are all on the rise. Curbside pickup, retail delivery, and robotic
warehouses are some of the other delivery models that have arisen.
The food delivery web is still being shaped by change and the introduction of new
business models. Cloud kitchen, aggregator, loyalty apps, restaurant apps, delivery
apps, and other new services are being launched. Customers are increasingly being
drawn to firms by the convenience of service as a result of this new industrial upheaval.
As more solutions and functionalities become available in this sector.

CHANGE IN CONSUMER PREFERENCES

Smartphone apps for placing online food orders are gradually becoming the norm
among restaurant patrons. Restaurants and other businesses must adapt to changing
consumer preferences in order to stay in business, as client retention is the most crucial
factor in the food industry's success. Customers are drawn to the idea of ordering meals
online and having them delivered to their homes via their smartphones. It is no longer
required to eat at a restaurant, especially if it is raining, chilly, or hot outside. The
internet meal delivery market caters to a dining audience that is short on time due to
their hectic schedules.
Two key segments are millennials and high-income households. More than 70%
of online orders and at-home delivery services are placed by customers between the
ages of 21 and 36. Online ordering is now available in 37% of restaurants around the
world, and 32% accept mobile payments.
The proliferation of delivery platforms can make food delivery more manageable
and easier for both customers and enterprises. More customers are being persuaded to
place orders and receive delivery through mobile applications, websites, and text
messaging.

ONLINE FOOD DELIVERY APPS IN THE PHILIPPINES

There are various brands of food delivery platforms that existed in the Philippines, which
makes the entrepreneur rise as well due to the logistics arm and and provided thru
delivery options.
 Food Panda
 Grab Foods
 Lala Move
 Eatigo
 Mangan.PH
 Zomato