A cashless society defines an economic environment in which financial transactions are not performed through money by way of bank currencies or coins, but rather by exchanging digital data (typically an electronic expression of money) between the transacting parties. Cashless societies have had come into being since the time of the evolution of human civilization, based on barter and other trading practices, and cashless transfers have now become viable in modern times, leveraging digital currencies, including bitcoin.
However, one tends to explore and focus on the concept of a cashless society in the context of moving towards a society where cash is substituted by its digital counterpart, i.e., legal tender money, which is captured, and only transmitted in digital electronic format. Such a theory has been discussed at length, notably as the world is undergoing a substantial and phenomenal use of digital ways of capturing, controlling, and transacting in trade, investment, and day to day life in several parts all across the globe and transactions that would have traditionally been conducted with cash are now often executed electronically or digitally.
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The core process that drives employee engagement is internal communication. The challenge for organisations is not to put in place more or better internal communications media, but to develop a communicating culture.
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Why your business should use social media!
We are connected 24/7 and social media has become an integral part of our life. It is changing how we communicate with each other and share information. We connect on social platforms like Facebook, Twitter, LinkedIn, and Instagram. Even as consumers we are discussing buying decisions, sharing experiences and directly getting in contact with brands, products and services online.
Businesses and marketers need to understand this shift and find the right channels to open a dialogue with their target audiences. Regardless of industry, consumers flock to social media to inform themselves, often with an actual intend of buying. They are no longer passive consumers who get besieged with newsletters, emails, banners, print and television ads, but now are actively searching information and reviews online to make an informed buying decision.
Social media should be part of the overall marketing efforts no matter if you are a B2C or B2B company. It should be viewed as an additional element of an integrated marketing campaign, which can provide a great opportunity to increase awareness, generate buzz, customer loyalty and acquire potential new customers.
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