Chapter 3: Ebusiness - Electronic Business Value

Question 1

What is digital Darwinism?

Answer 1

Implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction.

Question 2

What is a disruptive technology?

Answer 2

A new way of doing things that initially does not meet the needs of existing customers.

Question 3

What is a sustaining technology?

Answer 3

Produces an improved product that customers are eager to buy, such as a faster car or a larger hard drive.

Question 4

What does URL stand for?

Answer 4

Universal resource locator

Question 5

What is URL shortening?

Answer 5

Translation of a long URL into an abbreviated alternative that redirects to the longer URL

Question 6

How is Ecommerce different from Ebusiness?

Answer 6

Ecommerce refers only to online transactions. Ebusiness includes ecommerce along with all activities related to internal and external business operations.

Question 7

What is a paradigm shift?

Answer 7

Occurs when a new, radical form of business enters the market that reshapes the way companies and organizations behave.

Question 8

What is information richness?

Answer 8

The depth and breadth of details contained in a piece of textual, graphic, audio, or video information.

Question 9

What is information reach?

Answer 9

The number of people a firm can communicate with all over the world.

Question 10

What is mass customization?

Answer 10

The ability of an organization to tailor its products or services to the customers’ specifications.

Question 11

How is mass customization different from personalization?

Answer 11

Mass customization means a company can tailor products/services to customer’s specifications while personalization occurs when a company knows enough about its customers that it can offer products/services that are more appealing.

Question 12

What are intermediaries?

Answer 12

Agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together.

Question 13

What is disintermediation?

Answer 13

When a business sells direct to customers online and cuts out the intermediary.

Question 14

What is reintermediation?

Answer 14

When steps are added to the value chain as new players find ways to add value to the business process.

Question 15

What is cybermediation?

Answer 15

Creation of new kinds of intermediaries that simply could not have existed before the advent of ebusiness.

Question 16

What is interactivity?

Answer 16

Measures advertising effectiveness by counting visitor interactions with the target ad, including time spent viewing the ad, number of pages viewed, etc.

Question 17

What is a heat map?

Answer 17

Two-dimensional representation of data in which values are represented by colours.

Question 18

What is a clickstream?

Answer 18

The path the visitor takes through a website.

Question 19

What is website traffic analytics?

Answer 19

Uses clickstream data to determine the efficiency of the site for users and operates at the server level.

Question 20

What is website ebusiness analytics?

Answer 20

Uses clickstream data to determine the effectiveness of the site as a channel-to-market.

Question 21

What are the 4 ebusiness models?

Answer 21

B2B (business-to-business)
B2C (business-to-consumer)
C2B (consumer-to-business)
C2C (consumer-to-consumer)

Question 22

What are the 3 ways to operate as a B2C?

Answer 22

Brick-and-mortar, click-and-mortar, pure-play (virtual)

Question 23

What are adwords?

Answer 23

Keywords that advertisers choose to pay for and appear as sponsored links on the Google results pages.

Question 24

What are the 3 ways a website can generate revenue?

Answer 24

Pay-per-click, pay-per-call, pay-per-conversion

Question 25

What is click fraud?

Answer 25

The practice of artificially inflating traffic statistics for online advertisements.

Question 26

What are hitbots?

Answer 26

Hitbots create the illusion that a large number of customers are clicking an advertiser’s links.

Question 27

What are affiliate programs?

Answer 27

Allow a business to generate a commission or referral fees when a customer visiting its website clicks a link to another merchant’s website.

Question 28

What is a cyborg anthropologist?

Answer 28

Someone who studies the interaction between humans and technology, observing how technology can shape humans’ lives.

Question 29

What is WebRTC?

Answer 29

Web Real-Time Communications is an open source project that seeks to embed real-time voice, text, and video communications capabilities in web browsers.

Question 30

What is a telepresence robot?

Answer 30

Remote-controlled, wheeled device with a display to enable video chat and videoconferencing.

Question 31

What are content management systems (CMSs)?

Answer 31

Help companies manage the creation, storage, editing, and publication of their website content.

Question 32

What is taxonomy?

Answer 32

The scientific classification of organisms into groups based on similarities of structure or origin.

Question 33

What is Web 2.0 / Business 2.0?

Answer 33

Next generation of Internet use - a more mature, distinctive communications platform characterized by new qualities such as collaboration and sharing, and being free. Technical skills no longer required, eliminating entry barriers for online business.

Question 34

What is the DTC ebusiness model?

Answer 34

Direct-to-consumer. Companies build, market, sell, and ship their products themselves, without relying on traditional stores or intermediaries.

Question 35

What are the 3 main drivers of the direct-to-consumer sales channel?

Answer 35

Customer experience, data collection, reduced costs

Question 36

What is an open system?

Answer 36

Consists of nonproprietary hardware and software based on publicly known standards that allow third parties to create add-on products to plug into or interoperate with the system.

Question 37

What is source code?

Answer 37

Contains instructions written by a programmer specifying the actions to be performed by computer software.

Question 38

How is closed source different from open source?

Answer 38

Closed source is proprietary software licensed under exclusive legal right of the copyright holder. Open source is any software whose source code is made available free for any third party to review and modify.

Question 39

What is viral marketing?

Answer 39

Marketing phenomenon that facilitates and encourages people to pass along a marketing message.

Question 40

What is a collaboration system?

Answer 40

Set of tools that supports the work of teams or groups by facilitating the sharing and flow of information.

Question 41

What is collective intelligence?

Answer 41

Collaborating and tapping into the core knowledge of all employees, partners, and customers.

Question 42

What is the primary objective of knowledge management?

Answer 42

To be sure that a company’s knowledge of facts, sources of information, and solutions are readily available to all employees whenever it is needed.

Question 43

What are the two categories that intellectual and knowledge-based assets fall into?

Answer 43

Explicit or tacit

Question 44

What is explicit knowledge?

Answer 44

Anything that can be documented, archived, and codified. (Patents, trademarks, business plans, marketing research, customer lists).

Question 45

What is tacit knowledge?

Answer 45

Knowledge contained in people’s heads. Difficult to recognize, generate, share, and manage knowledge that resides in people’s heads.

Question 46

What is crowdsourcing?

Answer 46

Wisdom of the crowd.

Question 47

What are asynchronous and synchronous communications?

Answer 47

Asynchronous - message and response do not occur at same time (email)
Synchronous - message and response occur at same time (IM)

Question 48

What is social networking analysis?

Answer 48

Maps group contacts identifying who knows each other and who works otgether.

Question 49

What are social graphs?

Answer 49

Represent the interconnection of relationships in a social network.

Question 50

What is folksonomy?

Answer 50

Similar to taxonomy except that crowdsourcing determines the tags or keyword-based classification system.

Question 51

What is RSS?

Answer 51

Real simple syndication is a web format used to publish frequently updated works such as blogs, news headlines, audio, video in a standardized format.

Question 52

What is the network effect?

Answer 52

How products in a network increase in value to users as the number of users increase.

Question 53

What is a mashup?

Answer 53

Website or web application that uses content from more than one source to create a completely new product or service.

Question 54

Where is content from mashups typically sourced from?

Answer 54

An application programming interface (API) - set of routines, protocols, and tools for building software applications.

Question 55

What is web 3.0?

Answer 55

Next step in the evolution of the Internet and web applications. Based on intelligent web applications using natural language processing, machine-based learning and reasoning, and intelligent applications.

Question 56

How is the deep web different from the dark web?

Answer 56

Deep web (invisible web) is the part of the Internet not indexed by search engines including emails, chats, private content, bank statements, health records, etc. The dark web is intentionally hidden from search engines and used for illegal purposes.

Question 57

What is the semantic web?

Answer 57

A component of web 3.0 that describes things in a way that computers can understand. Not about links between pages, rather relationships between things.