Chapter 3: E-Business Flashcards
Digital Darwinism
Implies that organization’s which 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
Sustaining Technology
Produces an improved product customers are eager to buy
Internet
A massive network that connects computers all over the world and allows them to communicate with one another
World Wide Web
Provides access to Internet information through documents including text, graphics, audio, and video files
HTML
Publishes hypertext on the WWW
Web Browser
Allows users to access the WWW
Web 1.0
A term to refer to the WWW during its first few years of operation between 1991 and 2003
Ecommerce
Buying and selling of goods and services over the Internet
E-business
Includes Ecommerce along with all activities related to internal and external business operations
Mass Customization
The ability of an organization to tailor its products or services to the customers specifications
Personalization
Occurs when a company knows enough about a customers likes and dislikes that it can fashion offers more likely to appeal to that person
Intermediary
Agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together
Ebusiness Model
A plan that details how a company creates, delivers, and generates revenues on the Internet
Web 2.0
The next generation of Internet use, a more mature, distinctive communications platform characterized by three qualities
Open System
Nonproprietary hardware and software based on publicly known standards that allows third parties to create add on products to plug into or interoperable with the system
User Contributed Content
Created and updated by many users for many users
Collaboration System
Tools that support the work of teams or groups by facilitating the sharing and flow of information
Collective Intelligence
Collaborating and tapping into the core knowledge of all employees, partners, and customers
Crowdsourcing
The wisdom of the crowd
Crowdfunding
The financial resources of the crowd
Web 3.0
Based on intelligent web applications using natural language processing, machine based learning and reasoning, and intelligent applications
