Info Systems Quiz 4 Flashcards
Electronic commerce
process of buying, selling, transferring, or exchanging products, services, or information through computer networks, including the internet
Electronic business
somewhat broader concept -> refers to servicing customers, collaborating with business partners, and performing electronic transactions within an organization
Brick-and-mortar organizations
physical locations
Virtual organizations
companies only engaged in ec
clicks-and-mortar organizations
conduct some e-commerce activities, yet primary business is carried out in the physical world
B2C
Business-to-consumer electronic commerce: sellers are organizations, buyer are individuals
B2B
Business-to-business electronic commerce: both the sellers and the buyers are business organizations
C2C
consumer-to-consumer electronic commerce: individual sells products or services to other individuals
B2E
Business-to-employee: organization uses EC internally to provide information and services to its employees
E-government (G2C)
use of internet technology in general and e-commerce in particular to deliver information and public services to citizens
Auction
competitive buying and selling process in which prices are determined dynamically by competitive bidding
two types: forward and reverse
Forward auction
sellers solicit bids from many potential buyers
Reverse auctions
one buyer, usually an organizations, wants to purchase a product or a service
Electronic marketplace
central, virtual market space on the Web where many buyers and many sellers can conduct e-commerce and e-business activities
Clearing house
Review process on P. 560
