Chapter 3: Ebusiness - Electronic Business Value Flashcards
What is 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.
What is a disruptive technology?
A new way of doing things that initially does not meet the needs of existing customers.
What is a sustaining technology?
Produces an improved product that customers are eager to buy, such as a faster car or a larger hard drive.
What does URL stand for?
Universal resource locator
What is URL shortening?
Translation of a long URL into an abbreviated alternative that redirects to the longer URL
How is Ecommerce different from Ebusiness?
Ecommerce refers only to online transactions. Ebusiness includes ecommerce along with all activities related to internal and external business operations.
What is a paradigm shift?
Occurs when a new, radical form of business enters the market that reshapes the way companies and organizations behave.
What is information richness?
The depth and breadth of details contained in a piece of textual, graphic, audio, or video information.
What is information reach?
The number of people a firm can communicate with all over the world.
What is mass customization?
The ability of an organization to tailor its products or services to the customers’ specifications.
How is mass customization different from personalization?
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.
What are intermediaries?
Agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together.
What is disintermediation?
When a business sells direct to customers online and cuts out the intermediary.
What is reintermediation?
When steps are added to the value chain as new players find ways to add value to the business process.
What is cybermediation?
Creation of new kinds of intermediaries that simply could not have existed before the advent of ebusiness.
What is interactivity?
Measures advertising effectiveness by counting visitor interactions with the target ad, including time spent viewing the ad, number of pages viewed, etc.
What is a heat map?
Two-dimensional representation of data in which values are represented by colours.
What is a clickstream?
The path the visitor takes through a website.
What is website traffic analytics?
Uses clickstream data to determine the efficiency of the site for users and operates at the server level.
What is website ebusiness analytics?
Uses clickstream data to determine the effectiveness of the site as a channel-to-market.
What are the 4 ebusiness models?
B2B (business-to-business)
B2C (business-to-consumer)
C2B (consumer-to-business)
C2C (consumer-to-consumer)
What are the 3 ways to operate as a B2C?
Brick-and-mortar, click-and-mortar, pure-play (virtual)
What are adwords?
Keywords that advertisers choose to pay for and appear as sponsored links on the Google results pages.
What are the 3 ways a website can generate revenue?
Pay-per-click, pay-per-call, pay-per-conversion
What is click fraud?
The practice of artificially inflating traffic statistics for online advertisements.
What are hitbots?
Hitbots create the illusion that a large number of customers are clicking an advertiser’s links.
What are affiliate programs?
Allow a business to generate a commission or referral fees when a customer visiting its website clicks a link to another merchant’s website.
What is a cyborg anthropologist?
Someone who studies the interaction between humans and technology, observing how technology can shape humans’ lives.
What is WebRTC?
Web Real-Time Communications is an open source project that seeks to embed real-time voice, text, and video communications capabilities in web browsers.
What is a telepresence robot?
Remote-controlled, wheeled device with a display to enable video chat and videoconferencing.
What are content management systems (CMSs)?
Help companies manage the creation, storage, editing, and publication of their website content.
What is taxonomy?
The scientific classification of organisms into groups based on similarities of structure or origin.
What is Web 2.0 / Business 2.0?
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.
What is the DTC ebusiness model?
Direct-to-consumer. Companies build, market, sell, and ship their products themselves, without relying on traditional stores or intermediaries.
What are the 3 main drivers of the direct-to-consumer sales channel?
Customer experience, data collection, reduced costs
What is an open system?
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.
What is source code?
Contains instructions written by a programmer specifying the actions to be performed by computer software.
How is closed source different from open source?
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.
What is viral marketing?
Marketing phenomenon that facilitates and encourages people to pass along a marketing message.
What is a collaboration system?
Set of tools that supports the work of teams or groups by facilitating the sharing and flow of information.
What is collective intelligence?
Collaborating and tapping into the core knowledge of all employees, partners, and customers.
What is the primary objective of knowledge management?
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.
What are the two categories that intellectual and knowledge-based assets fall into?
Explicit or tacit
What is explicit knowledge?
Anything that can be documented, archived, and codified. (Patents, trademarks, business plans, marketing research, customer lists).
What is tacit knowledge?
Knowledge contained in people’s heads. Difficult to recognize, generate, share, and manage knowledge that resides in people’s heads.
What is crowdsourcing?
Wisdom of the crowd.
What are asynchronous and synchronous communications?
Asynchronous - message and response do not occur at same time (email)
Synchronous - message and response occur at same time (IM)
What is social networking analysis?
Maps group contacts identifying who knows each other and who works otgether.
What are social graphs?
Represent the interconnection of relationships in a social network.
What is folksonomy?
Similar to taxonomy except that crowdsourcing determines the tags or keyword-based classification system.
What is RSS?
Real simple syndication is a web format used to publish frequently updated works such as blogs, news headlines, audio, video in a standardized format.
What is the network effect?
How products in a network increase in value to users as the number of users increase.
What is a mashup?
Website or web application that uses content from more than one source to create a completely new product or service.
Where is content from mashups typically sourced from?
An application programming interface (API) - set of routines, protocols, and tools for building software applications.
What is web 3.0?
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.
How is the deep web different from the dark web?
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.
What is the semantic web?
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.
