20080304财经专业英文下 星期二晚上(29, 30)

20080304财经专业英文下 星期二晚上(29, 30) 20080304財經專業英文下 星期二晚上(29, 30) Unit 29 IT and E-Commerce 1. Great Advances of New Technology Bio(genetics) Chemical(polymers) Medicine(Viagra, Vaccination for cervicarcinoma) Material(Stealth Warship, Fighting Palne) Nanometer Environmental Protection Aviation and Aeronautics Information Communication 2. Information Technology Automate processing, exchanging, management, storage, retrieval-- hardware, software, internet, intranet, extranet, telecommunication, data mining, data warehousing Speed up information flows between information system (people, procedures, resources) in the form of data, voice, text, and images React real time, instantaneously, in order to solve problems and exploit opportunities CEO CFO CIO 3. All aspects of our life are influenced by information technology and telecommunication technology Triple A features(advantages or disadvantages depend on how you use them) : access, affordability, anonymity (陳冠希事件Edison Chen in HK, 華 南虎事件Tiger in South China, Lesbians and Gays, Transsexuals searching for sympathizers or companions , People who are shy in making friends with others) Triple C functions(advantages or disadvantages depend on how you use them) communication, collaboration, community (asking for subscriptions, helping organize classmates reunion) 1 desktop, laptop, notebook, I-pod, I-phone, mobile phone, e-mail, e-banking, e-gambling, e-payment, e-taxation, e-government, e-commerce, internet, search engine, blogger, videoblog, YouTube, citizen journalists, netizen, netiquette, cyberspace, cybersex, virus, text message, B2B, C2C, B2C BBS exhibitionism, voyeurs, collective peeping Tom, doctom, at@, domain name, Virtual reality: (advantages or disadvantages depend on how you use them) on-line cohabitation(Love Apartment Site in Taiwan), on-line friends making (MySpace, FaceBook, in US), on-line tomb sweeping, on-line fortune telling 4. problems: gap between the rich and the poor leading to technology availability inequality and information asymmetry, Rogue traders who cheat the customers via e-commerce or who undergo fraudulent tricks in managing your assets and investment portfolios (Baring, Societe Generale , the phone or internet fraud gangs in Taiwan) 5. E-Commerce A: Power of E-Commerce in the US AT A GLANCE E-commerce Click to buy Dec 13th 2007 From Economist.com AMERICA'S spendthrift consumers have long been a driver of global economic growth, merrily emptying their wallets and purses on the back of rising house prices and cheap money. So, many nervous eyes have been watching how consumers would react to falling house prices and the squeeze on credit. Happily for retailers and the wider economy, and despite lower consumer confidence, Americans are spending more than ever—online, at least. Since the beginning of November online spending is up by 18% compared with 2006, according to comScore, an internet-information provider. And on Thursday December 6th shoppers rang up $803m, the biggest online spending day yet, contributing to record weekly sales of $4.6 billion. 2 B: Evolution of E-Commerce in China and the World E-commerce with Chinese characteristics Jack Ma | HANGZHOU From The World in 2008 print edition Jack Ma: chairman and CEO, Alibaba Group A million internet entrepreneurs will bloom, predicts the boss of China’s biggest internet company In 2008 it will become clear that e-commerce will have a much larger impact in China than in the West. China will generate new models of internet business which will spill over to the West. And e-commerce will lead China’s economy into a new era in which innovation, customer focus and 3 responsible business practices—rather than relationships with people in power—become the main determinants of success. When Western e-commerce was born in 1995, China could only watch with admiration. The thought of clicking a mouse to buy products online—often from complete strangers—seemed an impossibility in China. If you were lucky enough to have a phone line, internet connection was slow and expensive. Banks were inefficient, making payment difficult and time-consuming. Sending a package meant waiting in long lines at the post office. And consumer culture had not yet taken off, hindered by low disposable incomes and an inefficient, state-run retail system. It was businesses—not consumers—which drove e-commerce’s early years in China. The most agile enterprises began to take notice of the internet as a channel for finding buyers and suppliers. As China entered the World Trade Organisation in 2001, a new “widget economy” was developing along the east coast of China, fertile ground for a multitude of small and medium-sized companies which made a living from trade. The internet proved to be the best way to connect these otherwise fragmented buyers and sellers, replacing trade shows and magazines as the medium of choice for sourcing products. By 2003 two trends were converging to bring consumer e-commerce out of its long slumber. China’s first generation of internet users had graduated from universities and turned their attention from online games to online shopping. With ever-increasing disposable income and more products than ever to choose from, a healthy consumer culture had developed, and the physical retail infrastructure was unable to keep pace. Second, international e-commerce companies began major investments in China. The ensuing competition between foreign and local companies helped educate the market, attracting more online shoppers. New modes of business arose to meet the unique needs of China’s consumers. Rating systems and escrow payment services developed to resolve the issue of trust between buyers and sellers. The integration of real-time chat into marketplaces allowed people to get to know each other before making transactions, a necessary function in a society in which relationships are still one of the most important channels through which trust flows. 4 In 2007 the leading consumer marketplaces counted 50m users and, for the first time, the value of daily online transactions surpassed the cash taken by major physical retailers in China, such as Wal-Mart. Moreover, users of online-payment systems exceeded the number of credit-card holders, showing that China’s e-commerce is taking a very different path from the West’s, which relied heavily on credit cards. Whereas C2C and B2C models have remained largely distinct in the West, in China they will continue to blend together, with consumers visiting single marketplaces to buy from individuals, small retailers and large retailers alike. Credit systems will take new forms as individuals and companies develop track records, giving banks reliable information to make loans to businesses and consumers. The most significant trend in 2008 will be the emergence of a new class of entrepreneurs. Niche manufacturers will link up with niche retailers, cutting out middlemen and out-competing larger, less specialised firms. A growing number of entrepreneurs will buy in volume from China on sites like Alibaba and sell to consumers on Western sites such as eBay. China’s e-commerce is creating economic opportunities in China and around the world. A new class of businesspeople is emerging and the transparent nature of e-commerce means businesses are becoming more responsible as they further integrate into the world economy. This new generation of entrepreneur provides the best chance we have to encourage economic development at a grassroots level in China, and around the world. 第30課在下一頁 5 Unit 30 Entrepreneurs and Venture Capital text on p.175 refers to theories, on which we will spend little time. 1. Venture Investment---- Seeing a market opportunity; Developing a strategy; Raising finance; Setting up and Managing a company; Taking care of marketing, advertising, and sales; Beating the competition 2. Entrepreneurs: macroscopic vision, deep insight, wild imagination, specific and detailed knowledge about the industry, practical strategy, leadership, 3. No one can manage by memory Capitalism = consumerism and consumers’ wants are always changing. The Crisis of Hon Hai lies in finding no one to take place of Terry Kuo; TSMC, Morris Chang; Berkshire, Warren Buffet; and Starbucks, Howard Schultz, unless all of them are always developing, and improving themselves and remain immortal. 4. Change makes you survive, but change does necessarily make you better. Think before you leap. McDonald’s: a booth in S. Cal., 1955; 4000 stores, 1975; 8000, 1985; 29000, 2001; 2002 lost money for the first time due to ignorance of change in demography—baby boomers getting into mid-ages go to healthy food. Changing way of thinking and slowing down the rate of opening new stores. Starbucks By sticking to principles of no loan, no franchise stores, no drive-ins, White Castle, the Biggest Burger Chain antedating McDonald’s in US, 6 survived 1920s, 1930s, 1940s, but perished in 1950s, the decade that saw cities become grouping of offices and suburbs that of residences, bringing in lessening population density in cities. typewriters vs. computers mobile phones vs. wire phones wireless TV vs. cable TV printed news vs. electronic news ththUK in 19 century vs. USA in first half of 20 vs. Japan in 1960s and 1970s vs. four Asian Tigers in 1970s and 1980s vs. China in 1990s and 2000s incessant changes in comparative advantages The abject failure of Iridium Plan (銥計畫) Iridium Inc., proposed in 1998 a plan with 5 billion US $ investment to launch 66 satellites connecting the world into a single system of telecommunication. It established a consortium consisting of 19 investors and an alliance with 320 telecommunication companies world wide. The planner had macroscopic vision, deep insight, and wild imagination, but lacked in practical strategy and down to earth assessment of cost and market. It was declared bankrupt in 2000. One of the casualties was Motorola and the loss of 1 billion led to its weakening competitiveness in the area of mobile phone. 投資太大,成本太高,每副電話索費達3,000美元,每分鐘需付費6美元,而 且電話太重太大,比一般大哥大的尺寸大3倍,因而使得消費者卻步,原本預 估要50萬用戶才打平,結果只取得55,000個用戶。銥計畫的失敗,在於投資 者過於樂觀,錯估了整個情勢, 報給你知: 當年參與該計劃的台灣廠商為太電公司(當時董事長為孫道存), 也只能認賠提列 資產減損(孫道存的元配何念慈是微風廣場孫芸芸的媽媽; 二奶顏寧; 三奶張瓊 玲, 即影視明星張瓊姿的大姐; 四奶新歡為趙曉苓). 7 8