Chapter 3 Flashcards
Value of electronic businesses
Digital Darwinism
Implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction.
Disruptive Technology
A new way of doing things that initially does not meet the needs of existing customers. They tend to open new markets and destroy old ones.
Sustaining Technology
produces an improved product customers are eager to buy, such as faster cars or larger hard drive. They tend to provide us with faster, better and cheaper products.
Internet
A massive network that connects computers all over the world and allow them to communicate with one another. Computers connected via the internet can send and receive information including text, graphics, voice, video and software.
Web 1.0 (Business 1.0)
A term to refer to the world wide web during its first few years of operations between 1991 -2003. Entrepreneurs began creating the first form of ebusiness.
Ecommerce
Buying and selling of goods and services over the Internet. Refers only to online transactions.
Ebusiness
Includes ecommerce along with all activities related to internal and external business operations such as servicing customer accounts, collaborating with partners and exchanging real time information.
World Wide Web (WWW)
Provides Access to Internet Information through documents, including text, graphics, and audio and video files that use a special formatting language called Hypertext Markup Language.
Hypertext Markup Language (HTML)
Publishes hypertext on the WWW, which allows users to mover from one document to another simply by clicking a hot spot or link.
HTML5
The current version of HTML delivers everything from animation to graphics and music to movies; it can also be used to build complicated web applications and works across platforms, including a PC, tablet, smartphone or smart TV.
Hypertext transport protocol (HTTP)
The internet protocol web browser use to request and display web pages using universal resource locaters (URLs)
World Wide Web Consortium (W3C)
An international community that develops open standards to ensure the long term growth of the Web
Web Browser
allows user to access the WWW.
Universal resource locator (URL)
The address of a file or resource on the web.
Domain name hosting (web hosting)
A service that allows the owner of a domain name to maintain a simple website and provide email capacity
Applet
A program that runs within another application such as a website.
Internet Corporation for Assigned Names and Numbers (ICANN)
A nonprofit organization that has assumed the responsibility for Internet Protocol (IP) address space allocation, protocol parameter assignment, domain name, system management, and root server system management functions previously performed under US government contract.
Paradigm shift
Occurs when a new radical form of business enters the market that reshapes the way companies and organizations behave. Ebusiness created a paradigm shift, transforming entire industries and changing enterprise wide business processes that fundamentally rewrote traditional business rules.
Information Richness
Refers to the depth and breadth of details contained in a piece of textual, graphic, audio, or video information.
Buyers need it to make informed purchases
Information Reach
Measure the number of people a firm can communicate with all over the world.
Sellers need this to properly market and differentiate themselves from the competition.
Mass customization
the ability of an organization to tailor its product or services to the customers specification.
EX: people can order M&M in special colors and label them with marry me
Personalization
when a company knows enough about its customers likes and dislikes that it can fashion offers more likely to appeal to that person, say by tailoring its websites to individuals or groups based on profile information, demographics , or prior transactions.
long tail
referring to the tail of a typical sales curve
intermediaries
are agents, software or businesses that provide a trading infrastructure to bring buyers and sellers together.
disintermediation
occurs when a business sells directly to the customers online and cuts out the intermediary . This process shortens the order process and add value with reduce cost or a more responsive and efficient service.
reintermediation
are added to the value chain as new players find ways to add value to the business process.
cybermediation
refers to the creation of new kinds of intermediaries that simply could not have existed before the advent of business, including comparison shopping sites such as kelp and bank account aggregation,
interactivity
measures advertising effectiveness by counting visitor interactions with the target ad, including time spent viewing the ad, number of pages viewed, and number of repeat visits to the advertisement.
business model
a plan that details how a company creates, delivers, and generates revenue.
clickstream data
observe exact pattern of a customers navigation through a site.
ebusiness model
is a plan that details how a company creates, deliver, and generates revenue on the internet.
dot.com
was the original term for a company operating on the internet.
Business to Business (B2B)
applies to businesses buying from and selling to each other over the internet.
Example: medical billing service, software sales, and licensing
Business to Consumer (B2C)
applies to any business that sells its products or services directly to consumers online.
Ex: carafe offers buyers detailed history of used vehicles
eshop
is an online version of a retail store where customers can shop at any hour.
Brick and Mortar (B2C)
a business that operates in a physical store without an internet presence
Click and Mortar (B2C)
A business that operates in a physical store and on the internet
Pure Play (B2C)
A business that operates on the internet only without a physical store.
Consumer to business (C2B)
Applies to any consumer who sells a product or service to a business on the internet.
Ex: Priceline : customers set the price (an offer) and the seller decides
Consumer to Consumer (C2C)
Applies to customers offering goods and services to each other on the internet.
Ex: Craigslist Vs Ebay
Adwords
keywords that advertisers choose to pay for and appear as sponsored links on the google result pages.
search engine
a website software that finds other pages based on keyword matching similar to Google
Search engine ranking
evaluates variables that search engine use to determine where a URL appears on the list of search results
Search engine optimization (SEO)
combines art along with science to determine how to make URLS more attractive to search engine resulting in higher search engine ranking. The better the SEO the higher the ranking
Pay-per-Click
generates revenue each time a user clicks on a link to a retailers website
Pay-per-call
generates revenue each time a use clicks on a link that takes the user directly to an online agent waiting for a call
Pay-per-conversion
generates revenue each time a website visitor is converted to a customer.
Internet Service Provider (ISP)
a company that provides access to the internet for a monthly fee (AT&T, Comcast)
Real time Communication
Occurs when a system updates information at the same rate it receives it.
Instant messaging (IMing)
A service that enables instant or realtime communication between people
podcasting
Converts an audio broadcast to a digital music player. can increase marketing reach ad build customer loyalty.
videoconference
allows people at two or more locations to interact via two-way video and audio transmissions simultaneously as well as share documents, data, computer displays and whiteboards.
web conferencing (Webinar)
Blend videoconferencing with documents sharing and allows the user to deliver a presensation over the web to a group of geographically dispersed participants
Content Managing System (CRS)
Helps companies manage the creation, storage, editing, and publication of their website content
Taxonomy
the scientific classification of organisms into groups based on similarities of structure or origin.
information Architecture
The set of ideas about how all information in a given context should be organized
Challenges of E-business
- Identify limited market segment
- Managing consumer trust
- Ensuring Customer protecting
- Adhering to taxation rules
Web 2.0 (Business 2.0)
Next generation of Internet use- a more mature, distinctive communications platform characterized by new qualities such a s collaboration, sharing and free.
Open system
Consists of nonproprietary hardware ad software based on publicly known standards that allows third parties to create add on products to plug into or interoperate with the system
Source Code
Contains instruction written by a programmer specifying the actions to be performed by computer software
Closed Source
Any proprietary software licensed under exclusive legal right of the copyright holder
Open Source
refers to any software whose source code is made available free for any third party to review and modify
User contributed content
Content created and updated by many users for many users
Native advertising
an online marketing concept in which the advertisers attempts to gain attention by providing content in the context of users experience in terms of its content, format, style, or placement
Reputation System
Where buyers post feedback on sellers
Collaboration system
A set of tools that supports the work of teams or groups by facilitation the sharing and flow of information
Collective intelligence
Collaborating and tapping into the core knowledge of all employees, partners and customers
Knowledge management
Involves capturing , classifying, evaluating and retrieving and sharing information assets in a way that provides context for effective decisions and actions
Knowledge management system
Supports the capturing, organization , and dissemination of knowledge throughout at organization
Explicit Knowledge
Consists of anything that can be documented, archived, and codified, often with the help of MIS
Tacit Knowledge
the knowledge contained in people hearts
Crowdsourcing
refers to the wisdom of the crowd
crowdfunding
sources capital for a project by raising many small amounts from a large number of individuals, typically via the internet
Asynchronous communications
communication such as email in which the message and the response does not occur at the same time
synchronous communications
communication that occurs at the same time such as IM or Chat
Social Media
Refers to websites that rely on users participation and users contributed content
social network
an application that connect people by matching profile information
social networking
the practice of expanding your business and or social contacts by constructing a personal network
social networking analysis
maps group contacts identifying who knows each other and who works together
tag
specific keywords or phrases incorporated into website contents for means of classification taxonomy
social tagging
describes the collaborative activity of making shared online contents with keywords tags as a way to organize it for future navigation filtering or search
Hashtag
A keyword or phrase used to identify a topic and is preceded by a hash or pound sign
folksonomy
similar to taxonomy except that crowdsourcing determines the tags or keyword based classification system
website bookmark
a locally stored URL or the address of a file or internet page saves as a shortcut
social bookmarking
allows users to share, organize, search, and manage bookmarks
blog
an online journal that allows users to post their own comments, graphics and video
microblogging
the practice of sending brief posts (140 - 200 character) to a personal blog, either publicly or to a private group. who can read the post as ims
real simple syndication (RSS)
A web format used to publish frequently updated works such as blogs, new headlines, audio and video
wiki
a type of collaborative web page that allows user to add, remove and change content.
network effect
describes hoe products in a network increases in value to users as the number of users increases
mashups
a website or web application that uses content from more than one source to create a completely new product or service
Application Programming interface (API)
A set of routines, protocols, and tools for building software applications
mashup editor
WYSIWYG or what you see is what you get
Challenges of business 2.0
Technology dependence
information vandalism
violations of copyright and plagiarism
semanatic web
a component of web 3.0 that describes things in a way that computers can understand
Egovernment
involves the use of strategies and technologies to transform governments by improving the delivery of services and enhancing quality of intreat between the citizen-cosummer within all branch of government
mobile business
the ability to purchase goods and services through a wireless internet enabled device
