Chapter 3: Ebusiness- electronic Business Value Flashcards
Disruptive technology
A new way of doing things that initially does not meet the needs of existing customers
- WWW
Sustaining technology
Produced an improved product customers are eager to buy
Innovator’s dilemma
Established companies can take advantage of disruptive technologies without hindering existing relationships with customers, partners, and stakeholders
World Wide Web
Provides access to internet information through documents including text, graphics, audio and video files that use a special formatting language called
Hypertext transport protocol
The internet protocol web browsers use to request and display web pages using URL
E commerce
The buying and selling of goods and services over the internet
E business
Incluses e commerce along with all activities related to internal and external business operations
Advantages of e business
Expanding global research Opening new markets Reducing costs Improving operations Improving effectiveness
Information richness
The depth and breadth of details contained in a piece of textual, graphic, audio or video information
Information reach
Measures the number of people a firm can communicate with all over the world
Mass customization
The ability of an organizTion to tailor its products or services to the customers specifications
Personalization
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
Interactivity
Measures advertising effectiveness by counting visitor interactions with the target ad, number of pages viewed, and number of repeat visits to the advertisement
Clickstream data
The ability to observe the exact pattern of a consumers navigation through a site
E business model
A plan that details how a company creates, delivers, and generates revenues on the internet
- business to business
- business to consumer
- consumer to business
- consumer to consumer
Identifying limited market segments
The main challenge of e business is the lack of growth in some sectors due to product or service limitations
Managing consumer trust
Internet marketers must develop a trustworthy relationship to make that initial sale and generate customer loyalty
Adhering to taxation rules
Companies that operating online must obey a patchwork of rules about which customers are subject to sales tax on their purchases and which are not
Challenges of E business
Identifying limited marketing segments
Managing customer trust
Ensuring customer protection
Adhering to taxation rules
Web 2.0
The next generation of internet use- a more mature distinctive communications platform
Advantages of business 2.0
Content sharing through open sourcing
User contributed content
Collaboration inside the organization
Collaboration outside the organization
Open system
.Nonproprietary hardware and software based on publicly known standards that allow third parties to create add on products to plug into or inter operate with the system
User contributed content
Created and updated by many users for many users
Reputation system
Where buyers post feedback on sellers
Collaboration system
Set of 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
Knowledge management
Involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions
Collaboration inside the organization
Collaboration system
Collective intelligence
Knowledge management
Collaboration outside the organization
Crowd sourcing
Crowd sourcing
The wisdom of the crowd
- asynchronous and synchronous communication
Social media
Websites that rely on user participation and user contributed content
- social networks
Social tagging
Specific keywords or phrases incorporated into website content for means of classification or taxonomy
Blog
Online journal that allows users to post their own comments, graphics, and video
- microblogging
- real simple syndication
Wiki
Collaborative web page that allows users to add, remove, and change content, which can be easily organized and reorganized as required
- network effect
Mashup
Website that uses content from more than one source to create a completely new product or service
- application programming interface
- mashup editor
Challenges of business 2.0
Technology dependence
Information vandalism
Violations of copyright and plagiarism
Web 3.0
Based on intelligent web applications using natural language processing, machine based learning and reasoning, and intelligence applications
eGovernment
Involves the use of strategies and technologies to transform governments by improving the delivery of services and enhancing the quality of interaction between the citizen consumer within all branches of government
Mobile business
The ability to purchase goods and services through a wireless internet enabled service
Digital Darwinism
Implies that organizations that cannot adapt to the new demands placed of them for surviving in the Information Age are doomed to extinction
