Chapter 2 Key Terms Flashcards
business ecosystem
A type of ecosystem that is an economic community where organizations and individuals interact.
co-opetition
A business strategy by which companies cooperate and compete at the same time.
customer relationship management (CRM)
The management activities performed to obtain, enhance, and retain customers. CRM is a coordinated set of activities revolving around the customer.
enterprise resource planning (ERP)
Systems to automate functions of the operations activities of the value chain.
information resource
The available date, technology, people, and processes within an organization to be used by the manager to perform business processes and tasks.
IT asset
Anything, tangible or intangible, that can be used by a firm in its processes for creating, producing, and/or offering its products (goods or services)
IT capability
Something that is learned or developed over time for the firm to create, produce, or offer its products.
social capital
the sum of the actual and potential resources embedded within, available through, and derived from the network of relationships possessed by an individual or social unit.
