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Information management > Lecture 13 > Flashcards

Lecture 13 Flashcards

1
Q

Turning social networks into businesses

A

1) most social networks monetize audiences through advertising

Linkedin
Twitter
Facebook

2) Business use of social networks

Marketing and branding tool
Listening tool for monitoring online reputation

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2
Q

algorithm

A

Step by step process, a procedure to fulfil a service

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3
Q

Affinity group analysis

A

Like minded people who share views, attitudes, purchase patterns and tastes in music and videos

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4
Q

English auction

A

Single item up for sale to single seller
Ascending price
Highest bidder wins

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5
Q

Dutch auction

A

Public descending price

Multipe units

Final price is lowest successful bid, which sets price for all higher bidders

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6
Q

penny (bidding fee) auction

A

Items owned by the site
Timed auction; last and highest bidder wins

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7
Q

Name your own price auction

A

Users specify what they are willing to pay for goods or services

multiple providers bid

Prices do not descend and are fixed

Enables sellers to unload unsold excess capacity

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8
Q

Auction prices are they the lowest

A

Auction prices not necessarily the lowest
Auctions are social events (herd behavior)
Unintended results (winners regret, sellers lament and losers lament)

Consumer trust = key factor for using auctions (to sell or buy)

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9
Q

Auctions may reduce costs

A

Cost of inventory

costs to fulfill the transaction (warehouse, shipping and logistics>)

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10
Q

Auctions may bring revenues

A

Ebay makes money from every stage in auction cycle

Transaction fees, listing fees, financial services fess and advertising or placement fees

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11
Q

Auctions may create entry barriers

A

For other auctions, for sellers and buyers

Difficulty for new entrants to establish audience

Ebay dominates online auction market

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12
Q

Portals are

A

most frequently visited sites on web

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13
Q

originally portals were

A

Search engines

These search sites attracted huge audiences

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14
Q

Goal of a portal

A

Keep visitors on the site and viewing ads

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15
Q

Todays portals provide

A

Navigation on the web

Commerce

Content

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16
Q

Enterprise portals

A

Help employees find important organizational content

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17
Q

Top five portal search engines in us

A

Google

Yahoo

Microsoft

AOL

Ask

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18
Q

Two general types of portals

A

General purpose and vertical markets portals

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19
Q

General purpose portals

A

Yahoo

MSN

AOL

Ask.com

20
Q

Vertical market portals

A

Affinity group (facebook, sina etc)

Focused content (ESPN.com;NFL.com etc,)

21
Q

Vertical market portals

A

Affinity group (facebook, sina etc)

Focused content (ESPN.com;NFL.com etc,)

22
Q

Portal revenue source

A

General advetising

Tenancy deals (fixed charge for guaranteed number of impressions, exclusive partnerships)

Commissions osn sales

Subscription fees

Application and games

23
Q

Evolution of B2B commerce

A

Automated order entry system

Electronic data interchange

B2B e-commerce web sites

Social networks and mobile apps

24
Q

Potential benefits of B2B E-commerce and IT

A

Lower costs:
Administrative, search costs for buyers, inventory costs, transaction costs

Increased production flexibility by ensuring just in time parts delivery

Improved quality of products by increasing cooperation among buyer and sellers

Decreased product cycle time

Increased opportunities for collaboration

Greater price transparency

Increased visibility, real time information sharing

25
Q

The procurement process and supply chains

A

search

Qualify

Negotiate

Pruchase order
Invoicing

shipping

Remittance payment

26
Q

Two types of goods

A

Direct goods and indirect goods

27
Q

MRO goods

A

Maintenance, repair and operations goods

MRO refers to the products and tools purchased that keep an organization running

MRO is also referred to as indirect procurement because MRO products enable your business activitiy but are not directly incorporated into any final products you create

28
Q

Two methods of purchasing

A

Contract (long term) purchasing

Spot purchainsg

29
Q

Supply chain management systems

A

SCM enable linkages between the internal systems of firms in B2B e-comerce

These developments lead to innovative B2B business models

30
Q

E-distributor

A

Single-firm online version of retail and wholesale store; supply maintenance, repair, operation goods; indiret inputs

31
Q

E-procurement

A

Single firm creating digital markets where sellers and buyers transact for indirect inputs

32
Q

Exchange

A

Independently owned vertical digital marketplace for direct inputs

33
Q

industry consortium

A

Industry owned vertical digital market open to select suppliers

34
Q

E-distributor marketplace

A

Creates own sales catalog by gathering information from many suppliers

Sells the listed products to customers and supplies directly to individual businesses

Owned by one company seeking to serve many customers

35
Q

E-procurement marketplace (EP-M)

A

Creates and sells “access to many digital markets”

Links each customer to many providers

Customers pay a service fee to the (firm that owns the) EP-M to get access to the EP-M and to the large variety of providers that all sell certain goods

Via the EP-M customers can search, selelct and buy and pay the goods they need

Revenue model: service fees

Customers pay a fee to run ariba software as a service. Ariba software can be linked to inernal purchasing software SAP systems

36
Q

Exchange marketplace (X-M)

A

Independently owned digital market place: many supplier meet some large buyers

X-M creates strong competition between suppliers (price transparency for some large business customers)

An X-M serves typically a single industry

Forces suppliers into price competition

Number of exchanges has dropped dramatically

Revenue model for the X-M; transaction fees, commission fees

37
Q

Industry consortium Marketplace (IC-M)

A

A marketplace, industry specific, owned by a consortium of firm

Open only for specific firms

More successful than exchanges

Sponsored by powerful industry players; strengthens traditional purchasing behavior

Revenue model: various

38
Q

Private industrial networks (PTX)

A

Private industrial networks (=private trading exchange - PTX networks) form the largest part of B2B ecommerce today

Many large companies operate their own private industrial networks

39
Q

Speccific objectives of a firm deploying a PTX include

A

Efficient buying and selling

Effective resource planning on enterprise scale and industry-wide scale

Increased supply chain visibility to all parties

Close relations with suppliers and buyers: enhanced demand forcasting, conflict resolution

Global operations

risk reduction: use financial derivatives, insurance future markets to prevent supply and demand inbalances (also known as supply chain integration)

40
Q

Ways to classify net marketplaces

A

Pricing mechanism

Nature of market served

Ownership

41
Q

Bias (B2B vocab)

A

Sell-side vs buy side vs neutral. Whose interests are advantaged: buyers, sellers, or no bias

42
Q

Ownership (B2B vocab)

A

industry vs. third party. Who owns the marketplace

43
Q

Pricing mechanism(B2B vocab)

A

Fixed price catalogs, auctrions, bid/asks, and RFPs/RFQs

44
Q

Scope (B2B vocab)

A

Horizontal vs vertical markets

45
Q

Value creation (B2B vocab)

A

What benefits do they offer customers or suppliers

46
Q

Access to market (B2B vocab)

A

In public markets, any firm can enter, but in private markets, entry is by invitation only

47
Q

Four types of net marketplaces

A

E distributor

E procurement

Industry consortia

Independent exchange

Information management (15 decks)

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