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What is telecommunication?
To send or transmit signals over long distances to make communication possible.
We listen to the radio, watch television, or speak to our friends on the telephone every day: either from a public telephone or via one of our most prized possessions – the cell phone!
Radio networks, telephone networks and television networks enable us to communicate over long distances.
Apart from that, computer networks are fast becoming the most important network in all areas of life. You only have to think of the Internet, e-mails and internet-faxes, to name but a few.
The Internet is a worldwide network of computers. The worldwide web (www.) is a global information space where people can write and read via computers linked to the Internet. Within seconds we can communicate with other people or institutions right across the world.
Also businessmen and -women and companies use these networks to run their companies and conduct their affairs.
Business owners are busy people who cannot afford to spend too much time on banking matters. Fortunately banks now offer various time-saving electronic solutions.
All people can have access to electronic banking services. In each town or city the different banks provide electronic facilities for the benefit of their clients.
Even the bigger garages offer automatic banking facilities, called autobanks, where people can do their banking without queuing inside the bank. The following transactions can be done at an autobank:
2. Online Banking Services
This service makes it possible to conduct your banking from the comfort of your home or office.
This system allows you to access the bank’s cell phone banking service via the Internet using your cellphone. The following transactions can be conducted:
3. Telephone Banking Services
Your telephone gives you access to your bank accounts 24 hours a day, seven days a week. You can do your banking from your home or office, from your car, and even the beach.
4. Internet Banking
This facility gives you access to you personal and business accounts online, anytime, anywhere. The service is available seven days a week, 24 hours a day. The system gives you the freedom to choose your own banking hours, giving you greater control of your finances. It’s secure, fast and easy to use.
This system offers you the following:
Use a tick or cross to indicate the service offered in each column.
| InternetBanking | TelephoneBanking | Cell phone Banking | |
| Provides an up-to-date balance | |||
| Provides mini-statements | |||
| Provides provisional statements | |||
| Make account payments | |||
| Make inter-account transfers | |||
| Increase or decrease overdraft limits | |||
| Stop payments and debit orders |
| Learning Outcomes(LOs) |
| LO 3 |
| MANAGERIAL, CONSUMER AND FINANCIAL KNOWLEDGE AND SKILLSThe learner will be able to demonstrate knowledge and the ability to apply responsibly a range of managerial, consumer and financial skills. |
| Assessment Standards(ASs) |
| We know this when the learner: |
| 3.3 describes the importance of administration in managing a business (record keeping, storing documentation);3.4 discusses the use of technology in telecommunication services (e.g. cell phones) and financial transactions (e.g. ATM, Internet) in improving administration, communication and access to information. |
Electronic banking
Activity 1
| InternetBanking | TelephoneBanking | CellphoneBanking | |
| Provides an up-to-date balance | yes | yes | yes |
| Provides mini-statements | no | no | yes |
| Provides provisional statements | yes | yes | no |
| Make account payments | yes | yes | yes |
| Make inter-account transfers | yes | yes | yes |
| Increase or decrease overdraft limits | yes | yes | yes |
| Stop payments and debit orders | yes | yes | no |
Notification Switch
Would you like to follow the 'Economic and management sciences grade 7' conversation and receive update notifications?
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