Module 3 in FIN GE ELEC 1

Module in FIN GE ELEC 1 – Math, Science and Technology
Second Semester 2020-2021 Instructor In-charge: LOIDA P. TAPAOAN

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ISABELA STATE UNIVERSITY
MODULE 3
IN
FIN GE ELEC 1
MATH, SCIENCE AND TECHNOLOGY
1. Module 3: Technology
2. Introduction
This module provides brief discussion on the relevance and importance of
technology to business. It includes technology tools that are useful and important to
business administration. Innovation and patents as well as copyright are also
discussed to better understand the relationship of technology and business.
3. Learning Outcomes/ Objectives

At the end of the module, the students should be able to:
 understand the relevance and importance of technology to business;
 identify technology tools and business models that are useful and important to
business administration;
 appreciate technology as product of science and as source of progress and
development;
 differentiate innovation, patent, and copyright; and
 explain Copyright Law of the Philippines.
4. Learning Content/Topic
Chapter 8. Technology Tools in the Business World
8.1 Understanding Technology to Business
 Technology
The word technology comes from two Greek words,
transliterated techne and logos. Techne means art, skill, craft, or the way, manner, or
means by which a thing is gained. Logos means word, the utterance by which inward
thought is expressed, a saying, or an expression. So, literally, technology means
words or discourse about the way things are gained.
These are new knowledge, ideas, skills, procedures, or techniques for doing or
using things which may result in new things being produced.
These can be human activities directed at designing and making products
which make living conditions comfortable.
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 TYPES OF TECHNOLOGY
 Communications Technology
- One of the most common technology being vastly used in our everyday life.
Advancement in technology has enhanced the ways to communicate information
from one place to another. It helps us to communicate with each other with more
convenience, in less time, and with greater accuracy.
 Construction Technology
- related to the equipment and methods utilized to build both advanced and
basic buildings and structures. This can include heavy engineering structures like
bridges.
 Medical Technology
- most effective and beneficial type of technology as it assists in improving
and extending human life. Medical technology is a vast field in which innovation
has played a significant role in sustaining human health by helping in reducing the
pain and speeding up the recovery process.
 Business Technology
- the application of information, engineering, data and science for businesses
related purposes like achieving organizational and economic goals. This
technology helps in the proper and systematic running of businesses and for
enhancing different business functions and operations.
 Information Technology
- knowledge works in businesses utilize information technology to
successfully complete different tasks, including enhancing customer service.
Major financial institutions like banks utilize information technology for operating
their business process and to provide high-quality customer service.
 Agriculture Technology
- most impactful and revolutionary type of modern technology which is
derived from the basic need for food for a constantly growing population. These
machines created with the help of advanced technology has significantly enhanced
the output of farms and massively altered the way individuals produce food and
are employed in the agricultural sector all over the world.
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 ADVANTAGES OF TECHNOLOGY
1. Technology Used in Agriculture
Nowadays farming becomes very easy. There is a lot of technological
machines used in farming, such as different kind of tractors, harvesters, and
planters. They can easily work in less time with the technological machines.
2. Technology Saves Precious Time
One of the main objectives of modern technology is to save precious time.
Scientists are always trying to make a kind of new technological things which
save our precious time and work efficiently. There is a lot of technological devices
or machines or gadgets, that can save a lot of our time.
3. Technology Easy Access to Information
The Internet is the latest invention of technology and the internet is the
world of information. Any kind of information is available on the internet.
4. Technology Used for Purchasing and Selling
People can buy and sell their products online through the internet
easily.
5. Technology Benefits to the Health Industry
The health industry means the technology used in the hospitals. There
is a lot of technological devices used in the hospitals, which allow the doctors
to easily monitor the health of the patients.
 DISADVANTAGES OF TECHNOLOGY
1. Modern Technology Waste our Time
People mostly used these kinds of technological devices in their most of
the time and waste their precious time doing unimportant activities. Like
television, video games, play stations, music players, and mostly mobile phones.
2. Technology Causes Distraction from Work and Study
Modern technological devices and gadgets are the most distracting things
nowadays. Smartphones, video games, television people mostly used and these
things are the most distracting and engaging technological devices. People cannot
focus to their work, study, and many more.
3. Technology Reduce the Creativity of People
One of the worst things about modern technology is it reduces the
creativity of the people.
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4. Technology Causes Lack of Interest in Studying

The extensive use and addiction to technology, students waste their time
instead of their studies.
5. Technology Causes Health Problems in Peoples
Technology also affects our health. There are researches showing that
there are different kinds of diseases found in people caused by the extensive use of
technology.
 TECHNOLOGY RELATED OCCUPATIONS

The advancement of technology has brought about new professions. An
example of these is Information Technology (IT). Other professions as a result of
technology are in the fields of: Engineering - mechanical, electrical, civil,
telecommunication, aeronautics; Medicine - surgery, dental medicine, gynaecology,
pharmacy, veterinary medicine; and the likes.
 IMPORTANCE OF TECHNOLOGY
Being technologically literate is paramount to each and every person living in
the present day world. But why? Because technology helps us acquire practical skills
which can be used in our work, home, school, and life generally.
1. Improvement of Transportation
Technology firstly has improved our transportation system. People can move
from one place to another. Example: cars, airplanes and trains
2. Improvement of Communication
Technology has improved the communication system. Information is
exchanged between people in distance via internet or social media platforms to make
business contact, invitation, alert etc.
3. Improvement in our working environment
The use of machines to produce goods and services has reduced the necessity
for human and animals.
4. Improvement in literacy / education
Technology fuels most of the educational system testing.
5. Better healthcare
Technology has improved the development of medical healthcare delivery.
6. Increase in quality and quantity of agricultural yield
Technology has improved quality of goods and increase production of farming
by using agricultural equipment.
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7. Improvement of Security
Technology can make any family or business feel safer. There are many
security devices and software available to secure your financial data, protect your
home when you are away and much more.
8. Improvement of Supplies
With technology advancing more people are able to have access to supplies
such as fresh water and food.
8.2 Relevance of Technology to Business
Business generally refers to organizations that seek profits by

providing goods or services in exchange for payment. However,
businesses don't need to turn a profit to be considered a business. The
pursuit of profit, in and of itself, makes an organization a business.
 Could business run without technology?
Technology is the driving force behind every business and without it, it’s
nearly impossible to conduct your day to day operations. But what’s worse, is
when the technology in your business is holding you back from your business
goals.
Technology in your business should make you more efficient, save you

time and in the end, impact your bottom line in a positive way. Without a
secure infrastructure in place, your employees aren’t able to do their job to the
best of their ability.
 10 Reason that illustrates the fact technology is no longer a want but a

need:
1. Technology Helps Improve Communication

Nowadays, many companies rely on different applications and software for
communicating with others. Several technical aspects need to be considered
before you choose the way of communication within your organization.
2. Technology Improves Efficiency

There is no denying the fact technology increases the efficiency of the
company. The advancements in the world of robotics and applied sciences help
businesses facilitate their customers. Moreover, due to the emergence of artificial
intelligence, companies can now make better use of technology.
3. Protection Against Attacks

Online attacks are increasing at an alarming rate, which can prove to
be very risky for businesses. Therefore, developers are designing cybersecurity
defense systems to protect companies from dangerous threats. Since this is an era
of cloud computing, the threat of cyber attack remains persistent
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4. Employees Need Technology to Work Efficiently

The role of technology in business is expanding at a breakneck pace.
Employees also expect their supervisors to provide them with the latest
equipment so that they can work effectively as well as efficiently. Moreover, the
most recent technological equipment enabled the employees to complete their
tasks with better results and increased productivity successfully.
5. Unlimited Supply of Knowledge

With technology, there is no limit as to what you can achieve and
accomplish. It provides an endless supply of knowledge and valuable insights.
Conducting research has never been easier because you can instantly access
the websites and search for the things you are looking for. Having valuable
insights puts you in a better position to deal with your customers. You are well
prepared to meet their demands.
6. Increased Employee Engagement

Technology is well-known for keeping employees engaged. It allows
them to telecommute to work and encourages them to collaborate with each
other for sharing files and essential information. In addition to this, technology
also reduces the level of stress. Workload decreases when the assigned tasks
are completed in the given time.
7. Explore New Markets for Growth

With the implementation of the latest technological equipment,
businesses can explore tons of new markets to expand their operations and
profitability. Technology can help in this regard by conducting complex
calculations and forecasts with authentic results. Authentic results provide a
better picture of management, enabling them to decide whether to go ahead
with the plan or not.
8. Technology in Business is Necessary for Expansion

Through automation and artificial intelligence, technology has become
the most crucial factor behind the success of every organization. Although it is
a big-ticket in terms of money, the value it provides ultimately outweighs the
high cost. Moreover, the use of the latest technology gives the company a
competitive edge, which makes it a better organization than the rest of the
competitors in the market.
9. Technology Increases the Capacity of the Business

Technology enables businesses to reach more customers in less time
than usual. This means they will be able to serve more customers than before.
10. Technology Brings Cryptocurrency into Being

The technology of Blockchain has enabled cryptocurrency to come
into existence. Bitcoin is by far the most popular cryptocurrency available in
the digital market. Just like the US dollar, cryptocurrency is also a medium of
exchange. However, it is digital and encrypted to control the creation of
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multiple monetary units. This particular technology has enabled businesses
from all over the globe to make safe and secure payments with full-fledged
records.
 Why is technology important in business?
Technology has a big impact on business operations. No matter the size of

your company, technology can bring many benefits that will help you increase
revenue make and produce the goods your customers demand. The main role of
technology in business is to drive growth and improve operations. Without
technology, companies would almost certainly fail to accomplish all that there is
to do. Different industries and companies rely on technology because it improves
business communication, optimizes production, inventory management and
financial record-keeping.
 Advantages and disadvantages of using new technology for businesses
New technology has a range of advantages and disadvantages for

businesses and business stakeholders. It is important for businesses to assess the
risk and make informed decisions about whether to use the latest technology.
 Advantages of technology in business

 Fast communication
 Online marketing
 Storage of data
 Hiring of personnel
 Monitoring of personnel
 Disadvantage of technology in business

 Online socializing
 Expensive machines
 Reduce employees’ skills
 Business dependent on online
 Data can be stolen
8.3 Technology Tools for Business Application and Business

Models
 What are technology tools?

 Technology tools refer to software, primarily, that can be used to develop or
support online course content.
 These include blogs, wikis, authoring tools such as Articulate or Captivate,
and Web 2.0 tools available through the internet.
 These are digital networking facilities information at high and reliable speed
and capacity.
 All essential tools that enhance the delivery of instruction and these tools have
changed and will change over time.
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 Types of Business Technology

Today, business and technology has strong evidence of the interrelated
importance to each other. Companies whether big or small, already use
technologies to facilitate almost all of their operations.
 Most common types of business technology from the traditional

practices to modern-day techniques:
 Computers
Computers are used across multiple businesses. They're equipped
with software that enables them to perform all sorts of tasks such as
analyzing financial information, sending and receiving emails and
designing sales presentations.
 Software
Computers use different kinds of programs and operating systems,
known as software to do specific tasks. Businesses utilize productivity
tools such as word processing, spreadsheet, and presentation applications.
 Networking
Networking is used to interact with groups of people to share
information and documents, to store information and to communicate
using email. It also permits computers to share a printer or a storage
device. A network can either be restricted to computers within an office
location or connected among numerous offices.
 Telephone Communication
Communication is the key to establishing business relationships.
For this reason, businesses use a form of telephone system to communicate
with customers and organizations. This provides a fast, efficient and one-
on-one personal connection with others.
 Accounting System
Accounting systems are software that enables businesses to manage
their expenses and revenue. Quickbooks is most often used in small
businesses. This is easy to set up and maintain. On the other hand, bigger
companies use SAP Business One or Sage Accpac, which allow more
customization and integration with other systems.
 Inventory Control System

An inventory control system is used to handle all inventory of a
business. It precisely keeps track of items including how much is in stock,
updating the system when new inventory arrives as well as when it is sold
and to keep accurate records.
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 Customer Relationship Management Systems
Similar to having a useful telephone system for effective
communication purposes, a customer relationship management system
(CRM) is equally important that can help a business move forward. It
keeps track of customer interactions by collecting and storing information
about them.
 Types of Business technology Tools to Save Time and Money

1. Task Management Tools
Task management tools are easy, cost-efficient way for small business
owners to save time and money. Any tool that allows you to track a task
digitally, rather than manually, is a great boon to busy business owners who
want to save time communicating and tracking their own work and the work
of their employees.
2. Email and Social Marketing

Today, many daily “busy work” tasks can be automated so business
owners can focus on more cerebral endeavors. Email Marketing Systems
(EMS) allow you to easily keep your email subscribers informed of news
about your business and important deals and promotions.
3. Social Media Scheduling Tools

Small business owners know the vital importance of using social media
to connect with their prospective clients and customers.
4. Scheduling Meetings
Setting up meetings can mean lots of emailing back and forth to find a
mutually agreed upon time. Scheduling tools like Calendly and Acuity can
help automate the process of setting up meetings.
5. Obtaining e-Signatures
When you need e-signatures on contracts and agreements, HelloSign or
DocuSign can help out. Upload your document, note where signatures are
needed, add the right email address, and the system will send it for you. It will
even ping the person with reminders the document hasn’t been signed within a
certain period.
6. Finding and Retaining Business Clients

For both gaining and retaining clients, as well as uncovering hidden
revenue, Customer Relationship Management (CRM) platforms such as
Hubspot, SalesForce, and Insightly are invaluable resources. A CRM helps
you keep track of potential, current, and previous customers from the first
interaction through your marketing and sales funnels. It can also provide tools
to nurture those relationships.
7. Document Collaboration
When you need to collaborate with others, file-sharing systems such as
Google Drive and Dropbox are a must. These digital tools ensure that
everyone is working from the same version of the same document. It also
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prevents everyone’s inbox from getting clogged with multiple versions of the
same document.
 Essential Technology Tools in Business

 Email Software
Oberlo says that in 2019, global email users amounted to 3.9
billion people. In 2023, the figure will reach to 4.3 billion. That is half
of the world’s population, which includes business potential customers.
Moosend an email tools offer functions to take the leg-work out
of making sales. These include automation tools to ensure you have the
best possible subject lines. You can also A/B test variations of your
marketing emails to fully optimize them for maximum conversions.
 Social Media Management Tool

To run a successful business, social networks are a powerful
platform to connect with customers. Potential customers are literally
everywhere.
Social Media tools also help businesses to optimize posts for
different platforms, both in terms of post length and tone.
 Hiring Software
Hiring and recruitment consultancy firm do the legwork for
business firms though it is costly but this best options have user-
centric, mobile-optimized workflows that help business firms hire
better and faster with no paperwork.
This software includes automated background checking to
improve speed and assure accuracy such as resume verifications, credit
checks, drug screening, international checks, among others.
 Timesheet App
Timesheet apps allow you to monitor whether or not your
employee has clocked in at the right time. You won’t have to worry
about them clocking in from home either. Timesheet apps typically use
GPS to track where your employees are at a given time. This improves
accountability and saves management hours of time that can be put to
better use.
 Accounting Software
Businesses are all about profit. To track this effectively, there is
a need to monitor outgoing costs, in addition to gross profits. These
may include employees’ pay, store rent, and electricity bills, among
other things.
This is where accounting software comes in handy. Instead of
doing manual computations, the software will do the sums for you.
Most accounting software nowadays is cloud-based, which does not
require too much space in your laptop or personal computers.
 Team Chat App
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With team chat apps, you don’t need to go through the hassle of
looking for your employee’s phone number in your phone book. If
they’re part of your group chat, you can easily reach them and throw
over crucial questions to them
 ADVANTAGES AND DISADVANTAGES OF TECHNOLOGICAL

TOOLS APPLIED IN BUSINESS
New technology has a range of advantages and disadvantages for
businesses and business stakeholders. It is important for businesses to
assess the risk and make informed decisions about whether to use the latest
technology.
 ADVANTAGES
• Easier, faster and more effective communication better, more efficient
manufacturing techniques less wastage
• More efficient stock management and ordering systems, the ability to
develop new and innovative approaches, more effective marketing and
promotion, new sales avenues
 DISADVANTAGES
• Increased dependency on technology often incur large costs with using the
latest technology (especially for small businesses), increase risk of job cuts
• Closure of high street stores in favour of online business
• Security risk in relation to data and fraud require regular updates which
can stop all business operations instantly
 What Is a Business Model?
A business model is an outline of how a company plans to make

money with its product and customer base in a specific market. At its core, a
business model explains four things:
1. What product or service a company will sell.
2. How it intends to market that product or service.
3. What kind of expenses it will face.
4. How it expects to turn a profit.
Simple illustration:
 What kind of product or service a company will sell: Netflix sells
an online streaming service.
 How it intends to market that product or service: Netflix uses a
multichannel marketing strategy and markets its service through social
media, email marketing, advertising and even simple word-of-mouth
marketing.
 What kind of expenses it will face: As a Fortune 500 company,
Netflix's expenses are extensive, but perhaps notably, its expenses will
include the costs to produce or acquire the content on its platform, as
well as the technology and staff needed to maintain the service.
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 How it expects to turn a profit: Even though Netflix is such a large
enterprise, (and has a few different ways of making money) when it
comes down to it, it expects to earn a profit from its subscription sales.
 Essential components of a business model

When it comes down to it, business models can vary in form and
function — as you can see from our business model definition and brief
example, however — they all consist of the same basic components.
Business models aren't just about income — you also need to consider
production costs and other factors in order to see the full picture.
 Target market: A specific group of consumers who would be

interested in the product.
 Competitive advantage: A unique feature of your product or service
that can’t easily be copied by competitors.
 Cost structure: A list of the fixed and variable expenses your business
requires to function, and how these affect pricing.
 Key metrics: The ways your company measures success.
 Resources: The physical, financial, and intellectual assets of your
company.
 Problem and solution: Your target customers’ pain points, and how
your company intends to meet them.
 Revenue model: A framework that identifies viable income sources to
pursue.
 Revenue streams: The multiple ways your company can generate
income.
 Profit margin: The amount your revenue exceeds business costs.
 Most common types of business models

There are a variety of types of business models — and they all can be
customized or changed based on the specific company or industry — doing so
is often referred to as creating a disruptive business model.
1. Subscription model
A subscription business model can be applied to both traditional brick-
and-mortar businesses and online businesses alike. Essentially, as we
explained in reference to Netflix, the customer pays a recurring payment on a
monthly basis (or another specified timeframe) for access to a service or
product. A company may directly ship its product in the mail, or you may pay
a fee to use an app.
Examples: In addition to Netflix, other businesses using the
subscription model include HelloFresh, Beer Cartel, StitchFix, as well as other
streaming services like Hulu, HBO Go, and Disney+.
2. Bundling model
Exactly like it sounds, the bundling business model involves
companies selling two or more products together as a single unit, often for a
lower price than they would charge selling the products separately.
This type of business model allows companies to generate a greater
volume of sales and perhaps market products or services that are more difficult
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to sell. However, profit margins often shrink since businesses sell the products
for less.
Examples: Businesses that use the bundling model include AT&T,
Adobe Creative Suite and Burger King, as well as other fast-food companies
that offer value meals or deals.
3. Freemium model
The freemium business model has gained popularity with the
prevalence of online and Software-as-a-Service (SaaS) businesses.
The basic framework goes like this: a software company hosts and
provides a proprietary tool for their users to freely access, such as an app or
tool suite. However, the company withholds or limits the use of certain key
features that, over time, their users will likely want to use more regularly. To
gain access to those key features, users must pay for a subscription.
You can see how Spotify follows this model — it gives users free and
open access to its entire database of music while sprinkling in ads between
songs. At some point, many users opt to pay a recurring monthly fee for the
premium service so they can stream music without interruption.
Examples: Spotify, LinkedIn, Skype and MailChimp are all businesses
that use the freemium model.
4. Razor blades model

To understand the razor blades model, you can simply look to your
local drugstore. You’ll notice that replacement razor blades cost more than
razors themselves.
Companies offer a cheaper razor with the understanding that you’ll
continue to purchase more expensive accessories — in this case, razor blades
— in the future. For this reason, this model is referred to as the "razor blades
model."
In addition to the traditional razor blades model, you'll also see
companies use the reverse razor blades model — in which they offer
customers a high-margin product and then promote the sales of lower-margin
products that accompany that initial product.
A classic example of this model is Apple iPhones and Macs — you
purchase the high-margin item, the phone or computer, and then Apple pushes
additional products, tools, and services that accompany that item.
Examples: On top of razor companies, examples of the general razor
blades model include Keruig, Brita, Xbox, and printer and ink companies.
5. Product to service model

Imagine that you are the owner of a company that makes scooters.
Let’s say you need two pieces of metal welded together. You might ask
another company to weld the pieces of metal together instead of purchasing a
welding machine yourself. In essence, this example shows how the product to
service business model works.
Companies that follow this type of business model allow customers to
purchase a result rather than the equipment that delivers that result.
Examples: Companies that use the product to service model include
Zipcar, Uber, Lyft and LIME.
6. Leasing model
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Under a leasing business model, a company buys a product from a
seller. That company then allows another company to use the product they
purchased for a periodic fee. Leasing agreements work best with big-ticket
items like manufacturing and medical equipment.
Examples: U-Haul, Enterprise and Rent-a-Center are all examples of
companies that use the leasing model.
7. Crowdsourcing model
Crowdsourcing involves receiving opinions, information, or work from
many different people using the internet or social media. These types of
business models allow companies to tap into a vast network of talent without
having to hire in-house employees.
Some traffic apps, for example, encourage drivers to report accidents
in real-time for the benefit of other app users.
Examples: Wikipedia, YouTube, IMDB and Indiegogo are all
examples of businesses using the crowdsourcing model.
8. One-for-one model
As the name suggests, the one-for-one business model means that a
company donates one item to a charitable cause for every item that is
purchased. This model appeals to the charitable nature and social
consciousness of customers to encourage them to purchase a product or
service, while also allowing both the business and the customer to actually
engage in philanthropic efforts.
Blake Mycoskie, the founder of TOMS, pioneered this form of social
entrepreneurship.
Examples: In addition to TOMS, SoapBox, Smile Squared and Warby
Parker are all companies that use this type of business model.
9. Franchise model
Of all the different types of business models, the franchise model is
perhaps the one that people are most familiar with — after all, we each see and
likely visit franchise businesses often in our daily lives.
In short, a franchise works like this: A franchise is an established
business blueprint that is simply purchased and reproduced by the buyer, the
franchisee. The franchiser, or original owner, works with the franchisee to
help them with financing, marketing, and other business operations to ensure
the business functions as it should. In return, the franchisee pays the franchiser
a percentage of the profits.
Examples: Starbucks, Domino's, Subway, McDonald's and the UPS
Store are all common examples of the franchise model.
10. Distribution model

A company operating as a distributor is responsible for taking
manufactured goods to the market.
Hershey’s, for example, manufactures and packages its chocolate, but
distributors are the agents that transfer and sell the goods from the factory to a
retailer. To make a profit, distributors buy the product in bulk and sell it to
retailers at a higher price.
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Examples: Other examples of companies that use the distribution
business model are HD Supply, Avent, Cheney Brothers, and ABC Supply Co.
11. Manufacturer model

One of the most traditional business models, the manufacturer model
refers to when a manufacturer converts raw materials into a product.
Companies like Dell Computers or Hewlett-Packard, both of which
assemble computers with parts manufactured by other companies, would still
be considered manufacturers.
Examples: Additional examples of this type of business model include
Intel, Magic Bullet, Black + Decker and LG Electronics.
12. Retailer model

The last business model on our list is the retailer model.
A retailer is the last link in the supply chain. These businesses
purchase goods from distributors and then sell them to customers for a price
that will both cover expenses and turn a profit. Retailers may specialize in a
particular niche, such as kitchenware, or carry a range of products.
Examples: This is a popular type of business model — used by big-
name companies like Nordstrom, Home Depot, Target and Best Buy.
8.4 Innovations and Patents
 What is Innovation?
Innovation - is the creation, development and implementation of a new
product, process or service, with the aim of improving efficiency,
effectiveness or competitive advantage.
 Types of Innovation
● Sustaining - a significant improvement on a product that aim to sustain the
position in an existing market.
● Incremental - gradual, continuous improvement on existing products and
services.
● Disruptive - technology of new business model that disrupts the existing
market.
● Radical - technological breakthrough that transforms industries, often
creates a new market.
 What is a Patent?
Patent - is the granting of a property right by a sovereign authority to an
inventor. This grant provides the inventor exclusive rights to the patented
process, design, or invention for a designated period in exchange for a
comprehensive disclosure of the invention.
 Types of Patents
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● Utility Patent - is granted for a new product process machine method of
manufacturing and composition of matter. This category excludes most
botanical creations related to plant and agricultural use.
● Design Patent - is granted for any new or original Ornamental design for
an article of manufacture. A design patent protects only the appearance of
the article and not the article itself. An inventor can easily register both a
utility patent and a design patent.
● Plant Patents - in botanical terms, any new variety of plant that has been
asexually reproduced can be granted a plant patent. The new plant must
exist in nature or in an uncultivated state. Therefore new plants, mutants,
hybrids, and seedlings may be patented provided the inventor can satisfy
the Patent Office that the new plant did not evolve from nature.
 Significant Relationship Between Invention and Patent

 Inventions are the bedrock of innovation. An invention is a new solution to
a technical problem and can be protected through patents. Patents protect
the interests of inventors whose technologies are truly groundbreaking and
commercially successful, by ensuring that an inventor can control the
commercial use of their invention.
 Individual or company that holds a patent has the right to prevent others
from making, selling, retailing, or importing that technology. This creates
opportunities for inventors to sell, trade or license their patented
technologies with others who may want to use them.
 A patent can last up to 20 years, but the patent holder usually has to pay
certain fees periodically throughout that 20-year period for the patent to
remain valid. In practice, this means that if a technology has limited
commercial value, the patent holder may decide to abandon the patent, at
which point the technology falls into the public domain and may be freely
used.
 How patents can support inventors and improve lives?

● Patents recognize and reward inventors for their commercially-successful
inventions.
● When a new technology comes onto the market, society as a whole stands
to benefit.
● The revenues generated from commercially successful patent-protected
technologies make it possible to finance further technological research and
development.
● A patent effectively turns an inventor’s know-how into a commercially
tradable asset.
● Holding a patent also makes a small business more attractive to investors.
● The technical information and business intelligence generated by the
patenting process can spark new ideas and promote new inventions.
● Patent information can be mapped, offering policy makers useful insights
about where technology R&D is taking place and by whom.
16
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● A patent can help stop unscrupulous third parties from free riding on the
efforts of the inventor.
 What are the steps involved to secure patent and/or design protection?
 Steps involved to secure Patent
1. Searching to see what is new about an STEPS INVOLVED TO
SECURE PATENT innovation to help determine if patent protection
will succeed.
2. Filing a provisional application (which gives the applicant 12
months to develop and assess the commercial opportunities before a
decision is made whether to continue with the patent application both
locally and globally).
3. Filing a complete specification
4. Patent office examination
5. Grant
6. Renewal
8.5 Intellectual Property Rights (IPR) Applicable to Business

Settings
 What is Intellectual Property?

Intellectual property refers to creations of the mind. It can be an
invention (patent / utility model), a design (industrial design), a brand
name (trademark), or a literary and artistic work (copyright).
 What is Intellectual Property Rights (IPR)?

Intellectual Property Rights are the rights given to persons over the
creations of their minds. They usually give the creator an exclusive right
over the use of his/her creation for a certain period of time.
 Two Main Areas of Intellectual Copy Rights?

1. Copyright and rights related to copyright
 The rights of authors of literary and artistic works (such as books and
other writings, musical compositions, paintings, sculpture, computer
programs and films) are protected by copyright, for a minimum period
of 50 years after the death of the author.
 Also protected through copyright and related (sometimes referred to as
“neighbouring”) rights are the rights of performers (e.g. actors, singers
and musicians), producers of phonograms (sound recordings) and
broadcasting organizations. The main social purpose of protection of
copyright and related rights is to encourage and reward creative work.
2. Industrial Property
Industrial property can usefully be divided into two main areas:
17
==================================================================================
 One area can be characterized as the protection of distinctive signs, in
particular trademarks (which distinguish the goods or services of one
undertaking from those of other undertakings) and geographical
indications (which identify a good as originating in a place where a
given characteristic of the good is essentially attributable to its
geographical origin).
The protection of such distinctive signs aims to stimulate and ensure

fair competition and to protect consumers, by enabling them to make
informed choices between various goods and services. The protection
may last indefinitely, provided the sign in question continues to be
distinctive.
 Other types of industrial property are protected primarily to stimulate

innovation, design and the creation of technology. In this category fall
inventions (protected by patents), industrial designs and trade secrets.
The social purpose is to provide protection for the results of investment

in the development of new technology, thus giving the incentive and
means to finance research and development activities.
 What are the reasons to protect your property?
By protecting intellectual property we grow innovation and ingenuity

in an environment which promotes creativity for the benefits of all.
 To promote future developments of creativity by other

entrepreneurs.
 Promotion of intellectual property and the ability to protect it
results in economic growth and creates new jobs.
 The creators of intellectual are likely to create additional
intellectual property.
 Why is the protection of intellectual property beneficial?

Intellectual property provides a great economic benefit to the economy
into the bottom line of many business entrepreneurs. Intellectual property
protection is important to prevent counterfeiting and profit laws from
infringement.
 Without it customers would have little confidence that the products

they purchase were authentic.
 Without protection, inventors and idea makers would have little
incentive to pursue new ideas.
 Recording industries, software companies, and publishing
companies could not exist without copyright protection.
18
==================================================================================
8.6 Copyright and Related Copyright Law
Copyright ownership gives the owner the exclusive right to use the
work, with some exceptions. When a person creates an original work, fixed in
a tangible medium, he or she automatically owns copyright to the work.
Examples of types of works eligible for copyright protection:
 Audiovisual works, such as TV shows, movies, and online videos

 Sound recordings and musical compositions
 Written works, such as lectures, articles, books, and musical compositions
 Visual works, such as paintings, posters, and advertisements
 Video games and computer software
 Dramatic works, such as plays and musicals
 What is the difference between copyright and trademark? What about

patents?
Copyright is just one form of intellectual property. It is not the same as

trademark, which protects brand names, mottos, logos, and other source
identifiers from being used by others for certain purposes. It is also different
from patent law, which protects inventions.
 What is the difference between copyright and privacy?
Just because you appear in a video, image or audio recording does not
mean you own the copyright to it.
For example, if your friend took a picture of you, she would own the
copyright to the image that she took. If your friend, or someone else, uploaded
a video, image or recording of you without your permission, and you feel it
violates your privacy or safety, you may wish to file a privacy complaint.
 Copyright Law in the Philippines
The Philippine copyright law or officially known as the Republic Act

No. 8293 is based on the copyright law of the United States. The Philippine
copyright law also protects trademarks, patents and even various forms of
intellectual property. You might have also heard about the Optical Media Act,
which aims to protect local artists against piracy. The same Act protects
computer programs and video games.
 Works Protected by Copyright Law

 ORIGINAL WORKS
Sec. 172. Literary and Artistic Works.
 172.1 Literary and artistic works, hereinafter referred to as "works",

are original intellectual creations in the literary and artistic domain
19
==================================================================================
protected from the moment of their creation and shall include in
particular:
(a) Books, pamphlets, articles and other writings;
(b) Periodicals and newspapers;
(c) Lectures, sermons, addresses, dissertations prepared for oral delivery,

whether or not reduced in writing or other material form;
(d) Letters;
(e) Dramatic or dramatico-musical compositions; choreographic works or

entertainment in dumb shows;
(f) Musical compositions, with or without words;
(g) Works of drawing, painting, architecture, sculpture, engraving,

lithography or other works of art; models or designs for works of art;
(h) Original ornamental designs or models for articles of manufacture,

whether or not registrable as an industrial design, and other works of
applied art;
(i) Illustrations, maps, plans, sketches, charts and three-dimensional works

relative to geography, topography, architecture or science;
(j) Drawings or plastic works of a scientific or technical character;
(k) Photographic works including works produced by a process analogous

to photography; lantern slides;
(l) Audiovisual works and cinematographic works and works produced by

a process analogous to cinematography or any process for making audio-
visual recordings;
(m) Pictorial illustrations and advertisements;
(n) Computer programs; and
(o) Other literary, scholarly, scientific and artistic works.
 172.2. Works are protected by the sole fact of their creation,

irrespective of their mode or form of expression, as well as of their
content, quality and purpose. (Sec. 2, P. D. No. 49a)
20
==================================================================================
 DERIVATIVE WORKS
 Sec. 173. Derivative Works.
173.1. The following derivative works shall also be protected by

copyright:
(a) Dramatizations, translations, adaptations, abridgments, arrangements,

and other alterations of literary or artistic works; and
(b) Collections of literary, scholarly or artistic works, and compilations of

data and other materials which are original by reason of the selection or
coordination or arrangement of their contents. (Sec. 2, [P] and [Q], P. D.
No. 49)
173.2. The works referred to in paragraphs (a) and (b) of Subsection 173.1
shall be protected as a new works: Provided however, That such new work
shall not affect the force of any subsisting copyright upon the original
works employed or any part thereof, or be construed to imply any right to
such use of the original works, or to secure or extend copyright in such
original works. (Sec. 8, P. D. 49; Art. 10, TRIPS)
Sec. 174. Published Edition of Work. - In addition to the right to publish

granted by the author, his heirs or assigns, the publisher shall have a copy
right consisting merely of the right of reproduction of the typographical
arrangement of the published edition of the work.
 WORKS NOT PROTECTED

 Sec. 175. Unprotected Subject Matter. - Notwithstanding the
provisions of Sections 172 and 173, no protection shall extend, under
this law, to any idea, procedure, system method or operation, concept,
principle, discovery or mere data as such, even if they are expressed,
explained, illustrated or embodied in a work; news of the day and other
miscellaneous facts having the character of mere items of press
information; or any official text of a legislative, administrative or legal
nature, as well as any official translation thereof. (n)
 Sec. 176. Works of the Government. -
o 176.1. No copyright shall subsist in any work of the

Government of the Philippines. However, prior approval of the
government agency or office wherein the work is created shall
be necessary for exploitation of such work for profit. Such
agency or office may, among other things, impose as a
condition the payment of royalties. No prior approval or
conditions shall be required for the use of any purpose of
statutes, rules and regulations, and speeches, lectures, sermons,
addresses, and dissertations, pronounced, read or rendered in
courts of justice, before administrative agencies, in deliberative
21
==================================================================================
assemblies and in meetings of public character. (Sec. 9, First
Par., P. D. No. 49)
o 176.2. The Author of speeches, lectures, sermons, addresses,
and dissertations mentioned in the preceding paragraphs shall
have the exclusive right of making a collection of his works.
o 176.3. Notwithstanding the foregoing provisions, the
Government is not precluded from receiving and holding
copyrights transferred to it by assignment, bequest or
otherwise; nor shall publication or republication by the
government in a public document of any work in which copy
right is subsisting be taken to cause any abridgment or
annulment of the copyright or to authorize any use or
appropriation of such work without the consent of the copyright
owners. (Sec. 9, Third Par., P. D. No. 49)
5. Teaching and Learning Activities

 Attendance to Google Classroom, Google Meet
 Module Reading
 Homework, Activities, On-line Research, Case Study
 Film Viewing
6. Learning Materials and Resources for Supplementary Readings

 Module
 Internet
7. Flexible Teaching Learning Modality (FTLM) Adopted

 Google Classroom, Google Meet, Edmodo, Group Chat
(Synchronous)
 Asynchronous (Module)
8. Assessment Task
 Work Sheets
 Quizzes
 Summative Exams
22
==================================================================================
9. References
https://www.slideshare.net/wallypitt/technology-35765998
https://web.engr.oregonstate.edu/~funkk/Technology/technology.html
https://whatchawearing.com/types-of-technology/
https://www.youtube.com/watch?v=KQg5CivdJRY&t=203s
https://medium.com/humane-tech/12-things-everyone-should-understand-about-tech-
d158f5a26411
https://www.google.com/amp/s/readwrite.com/2019/08/16/10-reasons-that-
demonstrate-the-importance-of-technology-in-business/amp/
https://www.itrelease.com/2019/10/advantages-and-disadvantages-of-technology in-
business/
https://mydatascope.com/blog/en/the-relevance-of-technology-in-business/
https://www.zimegats.com/the-7-most-common-types-of-business-technology/
https://azbigmedia.com/business/10-essential-tools-every-successful-business-needs/
https://aofund.org/resource/7-types-business-technology-tools-save-time-money/
https://www.open.edu/openlearn/science-maths-technology/engineering-and-
technology/technology/what-technology
https://www.oksbdc.org/why-is-technology-important-in-business/
https://www.universalclass.com/articles/business/intellectual-property-rights-applied-
in-business.htm
Copyright Law in the Philippines December 01, 2016 Attorneys of the Philippines
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Module in FIN GE ELEC 1 – Math, Science and Technology

Second Semester 2020-2021 Instructor In-charge: LOIDA P. TAPAOAN

3. Learning Outcomes/ Objectives

Chapter 8. Technology Tools in the Business World

8.1 Understanding Technology to Business

4. Technology Causes Lack of Interest in Studying

 TECHNOLOGY RELATED OCCUPATIONS

8.2 Relevance of Technology to Business

Business generally refers to organizations that seek profits by

 Could business run without technology?

Technology in your business should make you more efficient, save you

 10 Reason that illustrates the fact technology is no longer a want but a

1. Technology Helps Improve Communication

2. Technology Improves Efficiency

3. Protection Against Attacks

4. Employees Need Technology to Work Efficiently

5. Unlimited Supply of Knowledge

6. Increased Employee Engagement

7. Explore New Markets for Growth

8. Technology in Business is Necessary for Expansion

9. Technology Increases the Capacity of the Business

10. Technology Brings Cryptocurrency into Being

 Why is technology important in business?

Technology has a big impact on business operations. No matter the size of

 Advantages and disadvantages of using new technology for businesses

New technology has a range of advantages and disadvantages for

 Advantages of technology in business

 Disadvantage of technology in business

8.3 Technology Tools for Business Application and Business

 What are technology tools?

 Types of Business Technology

 Most common types of business technology from the traditional

 Inventory Control System

 Types of Business technology Tools to Save Time and Money

2. Email and Social Marketing

3. Social Media Scheduling Tools

6. Finding and Retaining Business Clients

 Essential Technology Tools in Business

 Social Media Management Tool

 Team Chat App

 ADVANTAGES AND DISADVANTAGES OF TECHNOLOGICAL

 What Is a Business Model?

A business model is an outline of how a company plans to make

 Essential components of a business model

 Target market: A specific group of consumers who would be

 Most common types of business models

4. Razor blades model

5. Product to service model

10. Distribution model

11. Manufacturer model

12. Retailer model

8.4 Innovations and Patents

 Significant Relationship Between Invention and Patent

 How patents can support inventors and improve lives?

8.5 Intellectual Property Rights (IPR) Applicable to Business

 What is Intellectual Property?

 What is Intellectual Property Rights (IPR)?

 Two Main Areas of Intellectual Copy Rights?

The protection of such distinctive signs aims to stimulate and ensure

 Other types of industrial property are protected primarily to stimulate