Key Concepts - Week Eight

Question 1

Business-to-Consumer:

Answer 1

Example: Amazon.com, Dell

Question 2

Business-to-Business:

Answer 2

Example: ChemConnect, IBM

Question 3

Consumer-to-Consumer:

Answer 3

Example: eBay, Kijiji

Question 4

Government-to-Consumer

Answer 4

Examples: Issues drivers license

Question 5

Disintermediation:

Answer 5

Usually done to reduce costs or increase delivery speed

Process of cutting out 1 or more middlemen from a transaction, supply chain, or decision-making process

Question 6

Revenue model: Subscription

Answer 6

Subscription revenue model Website charging a subscription fee for access to some or all of its content or services on an ongoing basis.

Question 7

Revenue model: Transaction fee

Answer 7

An online e-commerce revenue
model where the firm receives a fee for enabling or executing
transactions.

Question 8

Intellectual Property:

Answer 8

Refers to creations of the mind, such as inventions, literary & artistic works, designs, symbols, names, & images used in commerce

It is legally protected by laws like copyright, patent, & trademark, enabling creators to earn recognition or financial benefit from their inventions or works

Question 9

Crowdsourcing:

Answer 9

The practice of obtaining information, ideas, or content by soliciting contributions from a large group of people, especially from an online community

Used in various fields like business/research