Chapter 7 Flashcards
E-commerce
process of buying, selling, transferring, or exchanging products, services or information through computer networks, including the Internet.
E-business
in addition to the buying and selling of goods and services, e-business refers tp servicing customers, collaborating with business partners, and performing electronic transactions within an organization.
brick-and-mortar organization
purely physical
virtual (pure-play) organization
all digital
clicks-and-mortar organization
conduct some e-commerce activities, yet their primary business is carried out in the physical world
business-to-consumer (B2C)
the sellers are organizations, and the buyers are individuals
business-to-business (B2B)
both sellers and buyers are business organizations
customer-to-customer
an individual sells products or services to other individuals (eBay)
business-to-employee (B2E)
an organization uses EC internally to provide information and services to its employees
mobile commerce
e-commerce that is conducted entirely in a wireless environment
social commerce
delivery of electronic commerce activities and transactions through social computing
conversational commerce
electronic commerce using messaging and chat apps to offer a daily choice, often personalized, of a meal, product, service
Define e-government
use of Internet technology in general and e-commerce in particular to deliver information and public services to citizens (G2C) and to business partners and suppliers (G2B).
E-government is also an efficient way of conducting business transactions with citizens and businesses and within the governments themselves.
What are auctions?
competitive buying and selling process in which prices are determined dynamically by competitive bidding
Discuss forward and reverse auctions.
Forward auctions: sellers solicit bids from many potential buyers (eBay) –> the highest wins
Reverse auctions: one buyer, usually an organization, wants to purchase a product or service. They post a request for a quotation (RFQ), and the company that offers the product they want at the lowest price wins
what are electronic payment mechanisms
enable buyers to pay for goods and services electronically, rather than writing a cheque or using cash
electronic cheques
similar to regular paper cheques. Properly signed and endorsed e-cheques are exchanged between financial institutions through electronic clearinghouses.
electronic cards
allow customers to charge online payments to their credit (or debit) card account
- purchase cards
- store-value money cards
digital, online payments
payment gateway is an application that authorizes payments for e-businesses, online retailers, bricks-and-clicks businesses, or traditional brick-and-mortar businesses
benefits of e-commerce for organizations
makes national and international markets more accessible
lowers the costs of processing, distributing and retrieving information
benefits of e-commerce for customers
Able to access a vast number of products and services, around the clock
benefits of e-commerce for society
Ability to easily and conveniently deliver information, services, and products to people in cities, rural areas, and developing countries
what are limitations of e-commerce
Lack of universally accepted security standards
For less-developed countries, telecommunications bandwidth is often insufficient, and accessing the web is expensive
Perception that EC is nonsecure
