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Intro to eCommerce > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

Activity

A

a task performed by a worker in the course of doing his or her job.

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2
Q

Bonded warehouse

A

a secure location where incoming international shipments can be held until customs requirements are satisfied or until payment arrangements are completed.

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3
Q

Business model

A

a set of processes that combine to achieve a company’s goal, which is to yield a profit.

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4
Q

Business processes

A

the group of logical, related, and sequential activities and transactions in which businesses engage.

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5
Q

Business-to-business (B2B)

A

transactions conducted between businesses on the Web.

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6
Q

Business-to-consumer (B2C)

A

transactions conducted between shoppers and businesses on the Web.

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7
Q

Business-to-government (B2G)

A

a category of electronic commerce that includes business transactions with government agencies, such as paying taxes and filing required reports.

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8
Q

Business unit

A

a unit within a company that is organized around a specific combination of product, distribution channel, and customer type. Synonymous with strategic business unit.

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9
Q

Commodity item

A

a product or service that has become so standardized and well-known that buyers cannot detect a difference in the offerings of various sellers; buyers usually base their purchase decisions for such products and services solely on price.

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10
Q

Company

A

a business engaged in commerce; synonymous with firm.

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11
Q

Consumer-to-consumer (C2C)

A

a category of electronic commerce that includes individuals who buy and sell items among themselves.

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12
Q

Culture

A

the combination of language and customs that are unique to a particular population.

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13
Q

Customs broker

A

a company that arranges the payment of tariffs and compliance with customs laws for international shipments.

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14
Q

Dot-com

A

a company that operates only online.

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15
Q

Electronic business (e-business)

A

another term for electronic commerce; sometimes used as a broader term for electronic commerce that includes all business processes, as distinguished from a narrow definition of electronic commerce that includes sales and purchase transactions only.

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16
Q

Electronic commerce (e-commerce)

A

business activities conducted using electronic data transmission over the Internet and the World Wide Web.

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17
Q

Electronic data interchange (EDI)

A

exchange between businesses of computer-readable data in a standard format.

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18
Q

Electronic funds transfer (EFT)

A

electronic transfer of account exchange information over secure private communications networks.

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19
Q

E-procurement

A

synonymous with business-to-business (B2B).

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20
Q

Firm

A

a business engaged in commerce.

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21
Q

First-mover advantage

A

the benefit a company can gain by introducing a product or service before its competitors.

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22
Q

Freight forwarder

A

a company that arranges shipping and insurance for international transactions.

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23
Q

Hierarchical business organization

A

firms that include a number of levels with cumulative responsibility. These organizations are typically headed by a top-level president or officer. A number of vice presidents report to the president. A larger number of middle managers report to the vice presidents.

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24
Q

Industry

A

multiple firms selling similar products to similar customers.

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25
Q

Industry value chain

A

the larger stream of activities in which a particular business unit’s value chain is embedded.

26
Q

Law of diminishing returns

A

the characteristic of most activities to yield less value as the amount of consumption increases.

27
Q

Localization

A

a type of language translation that considers multiple elements of the local environment, such as business and cultural practices, in addition to local dialect variations in the language.

28
Q

Machine translation

A

language translation that is done by software; such translation can reach speeds of 400,000 words per hour.

29
Q

Market

A

a real or virtual space in which potential buyers and sellers come into contact with each other and agree on a medium of exchange (such as currency or barter).

30
Q

Merchandising

A

the combination of store design, layout, and product display intended to create an environment that encourages customers to buy.

31
Q

Mobile commerce (m-commerce)

A

resources accessed using devices that have wireless connections, such as stock quotes, directions, weather forecasts, and airline flight schedules.

32
Q

Network economic structure

A

a business structure wherein firms coordinate their strategies, resources, and skill sets by forming a long-term, stable relationship based on a shared purpose.

33
Q

Network effect

A

an increase in the value of a network to its participants, which occurs as more people or organizations participate in the network.

34
Q

Primary activities

A

activities that are required to do business: design, production, promotion, marketing, delivery, and support of products or services.

35
Q

Procurement

A

the business activity that includes all purchasing activities plus the monitoring of all elements of purchase transactions.

36
Q

Pure dot-com

A

a company that operates only online; also called dot-com.

37
Q

Revenue model

A

the combination of strategies and techniques that a company uses to generate cash flow into the business from customers.

38
Q

Shipping profile

A

the collection of attributes, including weight and size, that affect how easily a product can be packaged and delivered.

39
Q

Smart phone

A

a mobile phone that includes a functional Web browser and a full keyboard.

40
Q

Social commerce

A

the use of interpersonal connections online to promote or sell goods and services.

41
Q

Social networking site

A

Web sites used by individuals and businesses to conduct social interactions online.

42
Q

Strategic alliance

A

the coordination of strategies, resources, and skill sets by companies into long-term, stable relationships with other companies and individuals based on shared purpose.

43
Q

Strategic business unit (SBU)

A

a unit within a company that is organized around a specific combination of product, distribution channel, and customer.

44
Q

Strategic partners

A

the entities taking part in a strategic alliance.

45
Q

Strategic partnership

A

synonymous with strategic alliance.

46
Q

Supply management

A

synonymous with procurement, which is the business activity that includes all purchasing activities plus the monitoring of all elements of purchase transactions?

47
Q

Supporting activities

A

secondary activities that back up primary business activities. These include human resource management, purchasing, and technology development.

48
Q

SWOT analysis

A

evaluation of the strengths and weaknesses of a business unit, and identification of the opportunities presented by the markets of the business unit and threats posed by competitors of the business unit.

49
Q

Telecommuting

A

an employment arrangement in which the employee logs in to the company computer from an off-site location through the Internet instead of traveling to an office.

50
Q

Telework

A

synonymous with telecommuting.

51
Q

Trading partners

A

businesses that engage in EDI with one another.

52
Q

Transaction

A

an exchange of value, such as a purchase, a sale, or the conversion of raw materials into a finished product.

53
Q

Transaction costs

A

the total of all costs incurred by a buyer and seller as they gather information and negotiate a transaction.

54
Q

Value-added network (VAN)

A

an independent company that provides connection and EDI transaction forwarding services to businesses engaged in EDI.

55
Q

Value chain

A

a way of organizing the activities that each strategic business unit undertakes to design, produce, promote, market, deliver, and support the products or services it sells.

56
Q

Value system

A

synonymous with industry value chain.

57
Q

Vertical integration

A

the practice of an existing firm replacing one of its suppliers with its own strategic business unit that creates the supplied product.

58
Q

Virtual community

A

an electronic gathering place for people with common interests.

59
Q

Virtual company

A

a strategic alliance occurring among companies that operate on the Internet.

60
Q

Web 2.0

A

technologies that include software that allow users of Web sites to participate in the creation, editing, and distribution of content on a Web site owned and operated by a third party.

61
Q

Wire transfer

A

synonymous with electronic funds transfer, which is the electronic transfer of account exchange information over secure private communications networks?

Intro to eCommerce (1 decks)

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