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B4 > d) The Internet > Flashcards

d) The Internet Flashcards

(57 cards)

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1
Q

E-commerce

A

Electronic Commerce
Electronic completion of exchange (buying and selling) transactions. This can use a private network OR the internet.
Ecommerce is a type of ebusiness but not the other way around

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2
Q

E-business

A

Electronic Business
Use of information technology, particularly networking and communications technology, to perform business processes in an electronic form.

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3
Q

EDI

A

Electronic Data Interchange
Computer to computer exchange of business transaction documents (PO’s/invoices) in structured formats that allow the direct processing of the data by the receiving system.

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4
Q

EDI handling costs and speed

A

Compared to traditional paper based processing, EDI reduces transaction handling costs and speeds transaction processing

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5
Q

Standard data format consists of

A

Mapping

Standards

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6
Q

Mapping

A

process of determining the correspondence between data elements in an orgs terminology and data elements in standard EDI terminology. Translation software can be used to convert transactions from one format to another once mapping is complete

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7
Q

Standards

A

XML is likely to become the standard for automating data exchange between systems

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8
Q

XML

A

extensible markup language

  • Technology that has been developed to transmit data in flexible formats instead of the standard formats of EDI.
  • XML tells systems the format of data and also what kind of information the data is
  • could eventually replace EDI since XML tags can be read by many software applications
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9
Q

EDI Communication

A

can be implemented using direct links between the organizations exchanging information, through communication intermediaries (service bureaus), through value added networks (VANs) or over the internet

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10
Q

VAN

A

Value added network

  • a service that operates like e-mail, only with structured data.
  • internet based EDI is replacing VAN based EDI because it is cheaper
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11
Q

Features of EDI

A
  • Allows transmission of edocs between computer systems in different orgs. Orgs called trading partners or business partners
  • reduces handling costs/speeds trans processing
  • requires all trans be submitted in standard data format
  • can be implemented using direct links, through communication intermediaries, through VAN’s or over the internet
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12
Q

EDI Legal costs

A

costs associated with modifying and negotiating trading contracts with trading partners and with communications providers

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13
Q

EDI Hardware costs

A

costs of required communications equipment, improved servers, modems, routers

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14
Q

EDI translation software costs

A

Cost of acquiring/developing and maintaining the translation software to translate data into the specific EDI formats can be significant

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15
Q

EDI Data transmission costs

A

Cost of data transmission has been decreasing, especially with the evolution of EDI through the Internet

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16
Q

Process re-engineering & employee training costs

A
  • Implementing EDI can significantly reduce human effort in the processing of business docs
  • EDI processes are heavily integrated into other applications such as inventory control, shipping/receiving, and production planning which could require business process re-engineering
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17
Q

Audit trails in EDI system should include

A
  1. Activity logs of failed transactions

2. Network and sender/recipient acknowledgements

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18
Q

Greatest risk In an organizations use of EDI is

A

unauthorized access to the orgs system

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19
Q

BPR

A

Business process re-engineering
The analysis & redesign of business processes and information systems to achieve significant performance improvements.

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20
Q

BPR challenges-Tradition

A

Old ways of doing things do not die easily

Successful reengineering requires changes in employee culture and beliefs

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21
Q

BPR challenges-Resistance

A

Change is met with resistance

Managers must provide support to those affected, reassuring and persuading them that necessary changes will work

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22
Q

BPR challenges-Time and Cost reqs

A

BPR is costly and almost always takes 2 or more years to complete

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23
Q

BPR challenges-Lack of mgmt support

Study These Flashcards
A

Some top managers are afraid of big hype and few results. Without support from top mgmt, reengineering has little chance of success

24
Q

BPR challenges-Skepticism

Study These Flashcards
A

Some view BPR as traditional systems development in a new wrapper with a fancy name

25
BPR challenges-Retraining
Employees must be retrained, which is time consuming and expensive
26
BPR challenges-Controls
Important controls that ensure system reliability and integrity cannot be deleted
27
B2C
Business to consumers When a business sells its products or services to the public
28
B2B
Business to business When a business sells its products or services to other businesses
29
C2C
Consumer to consumer When consumers sell products to other consumers(ie ebay, craigslist)
30
Electronic market
It is common for B2B transactions to occur electronically via the internet. Internet transactions can occur between businesses where there is no preexisting relationship
31
Direct Market
B2B transactions occur electronically between businesses where there is a preexisting relationship. Direct market transactions include transactions that occur via EDI, corporate intranets and extranets
32
Advantages of B2B
``` Speed Timing Personalization Security Reliability ```
33
B2B vs B2C
B2B -transactions involve many more participants in each individual transaction, involve more complex products and require fulfillment be certian B2C -less complex -payments are usually made immediately, POS
34
Digital Cash
Electronic cash/ecash Currency in electronic form that moves outside the normal channels of money-can be used to pay without directly using CC (ie Paypal)
35
ERP
Enterprise resource planning Cross-functional enterprise system that integrates and automates the many business processes and systems that must work together in the mfg, logistics, accting functions of a business.
36
ERP software comprises
a number of modules that can function independently or as an integrated system to allow data and info to be shared
37
ERP system functions
1. Store info in a central repository, data entered once and accessed/used by all 2. Acts as the framework for integrating/improving orgs abilities 3. Provide vital cross-functioning info quickly to assist in decision making
38
SCM
Supply Chain Management Integration of business processes from the original supplier to the customer and includes purchasing, materials, production planning and control, logistics, warehouse, inventory, delivery.
39
4 important characteristics of SCM
What, when, where and how much 1. Goods received should match goods ordered 2. Goods should be delivered on or before date promised 3. Goods should be delivered to the location requested 4. Cost of goods should be as low as possible
40
Overall objectives of SCM
Achieving flexibility and responsiveness in meeting the demands of customers and bus. partners. Functions to achieve this: Planning, Sourcing, Making & Delivering
41
CRM
Customer Relationship Management Systems-provide sales force automation and customer services in an attempt to manage customer relationships.
42
CRM Objectives
- Increase customer satisfaction thus increasing revenue and profitability. CRM attempts to do this by appearing to market to each customer individually. - Reduce sales costs and customer support costs
43
2 categories of CRM
Analytical CRM | Operational CRM
44
EFT
Electronic Funds Transfer-form of electronic payment for banking and retailing industries. (IE-Fedwire)
45
EFT third party vendors
EFT service is often provided by a third party vendor who acts as the intermediary between the company and the banking system. Third party is usually heavily insured and bonded.
46
ASP
Application service providers-provide access to application programs on a rental basis. Allow small companies to avoid the extremely high costs of owning and maintaining todays application systems by allowing them to pay for only what is used. ASPs own and host the software and are responsible for updates and backup services
47
Advantages of ASP
``` lower costs (hardware & software) greater flexibility ```
48
Disadvantages of ASP
possible risks to the security and privacy of org data financial viability or lack thereof of the ASP possible poor support by the ASP
49
WEB 2.0
allowed for interaction on the internet rather than the previous internet which was mostly a repository of docs that web surfers could browse
50
Dynamic content
any content that changes frequently and can include video, audio and animation. Web 2.0 is associated with an increase in web pages with dynamic content
51
Mash-ups
Web pages that are collages of other web pages and other information. IE-Google maps...allows user to view various sources of information (places of interest, street names)
52
Stand alone web stores
not integrated with larger accounting systems. Typically hosted by shopping cart software and financial reports are generated as needed. Reports are then imported into general accounting software
53
Integrated Web stores
Integrate all the major accounting functions, as well as the web store, into a single software system.
54
Cloud computing
virtual servers available over the internet. Includes any subscription based or pay per use service that extends an entitys existing IT capabilities on a real time basis over the Internet.
55
HTML
Hypertext Markup Language-tag based formatting language used for web pages. It provides a means to describe the structure of text based information in a doc and replicate that info in a webpage using tags in text
56
HTTP
Hypertext Transfer Protocol-Communications protocol used to transfer Web pages on the world wide web. HTTPS is the secure version of HTTP that uses SSL (Secure socket layer) for security
57
URL
uniform resource locator-directs the user to a specific location on the web

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