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U1 Integrated Management INTG 202 > lecture 4 > Flashcards

lecture 4 Flashcards

1
Q

What is Web 2.0?

A

Web 2.0 is a loose collection of information technologies and applications, and the websites that use them

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2
Q

what is the diff between web 2.0 and web 1.0

A

Internet services that foster collaboration and information sharing; characteristics that distinctly set “Web 2.0” efforts apart from the static, transaction-oriented Web sites of “Web 1.0”

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3
Q

web 2.0 is often applied to what

A

Often applied to Web sites and Internet services that foster social media or other sorts of peer production

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4
Q

at is Web 2.0’s most powerful feature

A

Peer production

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5
Q

what is Peer production

A

When users collaboratively work to create content, products, and services

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6
Q

Peer-produced services have the ability to do what

A

save their sponsors the substantial cost of servers, storage, and bandwidth

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7
Q

Peer production is leveraged to do what

A

create much of the open source software that supports many of the Web 2.0 efforts

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8
Q

what is Crowdsourcing

A

a type of peer production where initially undefined groups of users band together to solve problems, create code, and develop services

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9
Q

what are Web-based efforts that foster peer production

A

Social media or user-generated content sites

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10
Q

what is Social media:

A

Content that is created, shared, and commented on by a broader community of users

Services that support the production and sharing of social media include blogs, wikis, video sites like YouTube, and most social networks

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11
Q

what are the social Media Properties

A

 Reach
 Accessibility  Usability
 Recency
 Permanence

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12
Q

what is the acronym for Social Media Awareness and Response Team

A

S.M.A.R.T

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13
Q

what is included when you Set a Social Media Policy

A

Explicit guidelines (honesty, transparency, caution in representing firm, legal issues), Positive Examples, Case studies showing potentially damaging consequences

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14
Q

how to Monitor (external & internal) social media

A

Tools (Google Alerts, Twitter Clients, Facebook Insights), ORM Agencies (online rep. mgmt), Deputies (reveal dark web)

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15
Q

how to engage social media

A

Create points of contact w/trained staff; craft a compelling social media voice; liaison to internal communities

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16
Q

what re the parts of monitoring social media

A

Set a social media policy
Monitor
Engage
Establish First-Responders Network

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17
Q

how to Establish First-Responders Network

A

Train; ‘War-game’ scenarios; Escalation path to bring in experts (engineers, sr. executives, support specialists); Deeply involve customer service, PR, legal, tech staff.

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18
Q

what is E-Commerce

A

Focus on the transaction: adding revenue streams using the web or the Internet to build/enhance relationship with clients & partners
 Buying & selling of products or services over electronic systems such as the Internet
 The marketing, buying, selling and support of products and services via computer networks including the Internet

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19
Q

what are the 2 types of ecommerce classifications

A

Based on degree of digitization involved

Based on type of provider and consumer involved

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20
Q

e-commerse classification: Based on degree of digitization involved (in the nature of product, and production and delivery process), firms can be classified as: (3 things)

A

– bricks-and-mortar

– clicks-and-mortar (or hybrid)

– pure-play (or pure-click, pure digital or virtual)

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21
Q

whats bricks-and-mortar

A

 e.g., A traditional grocery store, or car repair shop

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22
Q

what is – clicks-and-mortar (or hybrid)

A

 e.g., Amazon.com; Staples.com; Bestbuy.com

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23
Q

what is – pure-play (or pure-click, pure digital or virtual)

A

 e.g., Buy.com, iTunes, ebay.com

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24
Q

ecommerce classificaton: based on type of provider and consumer involved: what are they

A

– B2C (business-to-consumer)
– B2B (business-to-business)
– C2C (consumer-to-consumer) – B2E (business-to-employee)
– G2B (government-to-business)

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25
Q

what is mCommerce

A

transactions are conducted using a mobile device (e.g., smartphone).

a new category go ecommerce

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26
Q

what is a Business Model

A

A business model is the method by which a company generates revenue to sustain itself.

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27
Q

eCommerce reinvents tried-and-true models and foster new what

A

kinds of business models

28
Q

Internet popularized what business model

A

the auction model

29
Q

how did Internet popularized the auction model

A

– broadened its applicability to a wide array of
goods/services
– provides an efficient infrastructure for conducting auctions
 lower administrative costs
 many more involved buyers and sellers
– Forward and Reverse Auctions

30
Q

what are the internet business models

A 
Online Sales Model
Brokerage (market-makers)
Infomediary
Advertising
Affiliate
Subscription
Utility
31
Q

what is Online Sales Model

A

Click and Mortar; Pure play (or pure click)

32
Q

what is Brokerage (market-makers)

A

– Auction Broker: ebay.com
– Payment or Transaction Broker: paypal.com
– Name-your-price (Demand Collection System): Priceline.com
– Virtual Marketplace: Alibaba

33
Q

what is Infomediary:

A

Similar to Brokerage ; Deal with information: Edmunds.com

34
Q

what is Advertising

A

(Content Publishers/Portals): Yahoo, NYT.com, Google Adwords

35
Q

what is  Affiliate

A

(Pay-per-click; Pay–per- action/sale): Amazon

36
Q

what is  Subscription:

A

FT.com, Netflix

37
Q

what is  Utility:

A

(Metered Usage): Digital Ocean, Amazon AWS

22

38
Q

what is B2C E-Commerce

A

Focusing on online sales business model

39
Q

for B2C E-Commerce (Focusing on online sales business model), Based on the level of transactions related features available on seller’s website, a seller’s website can be classified as:

A

 E-Brochure: Billboard/catalog; Up-to-Date Info
 E-Promotion: Product Info; Consumer Services
 E-Sales: Orders and Full Transactions

40
Q

what are issues in B2C

A

 Long Tail
 Channel conflict –
 Order fulfillment

41
Q

what are types of Channel conflict –

A

Disintermediation – Cannibalization

42
Q

what are types of Order fulfillment

A

– More difficult in B2C as compared to B2B

43
Q

what is Disintermediation (conflict with channel partners)

A

– Manufacturers disintermediate their channel partners by selling their products directly to consumers
– Often replaces one intermediary (retailer) with another (FedEx or UPS)

44
Q

what is Cannibalization (conflict within own distribution channels

A

– logistic services, pricing

– Separate offline and online businesses or adopt multichanneling strategy

45
Q

what is Order fulfillment issues

A

 More complicated in B2C e-commerce as compared to B2B commerce
– transactions are much smaller but are larger in number.

 Problems especially during the holiday season
– late deliveries,
– delivering wrong items,
– high delivery cost, and
– compensation to unhappy customers
46
Q

B2B e-commerce is simply defined as what

A

e- commerce between companies (i.e., buyers and sellers are organizations).

47
Q

what is Electronic data interchange (EDI)

A

the transfer of structured data, by agreed message standards, from one computer system to another
(used most in B2B)

48
Q

what are EDI Advantage:

A

reduces the handling costs of manually processing of paper documents, reduces errors, reduces cycle times

49
Q

what are EDI Disadvantage:

A

cost (dedicated point-to-point), inflexible, many standards, needs restructuring, long startup period

50
Q

how to Use Internet for B2B commerce

A

Web-Based EDI

B2B e-Marketplaces

51
Q

whats Web-Based EDI

A

– Allows processing of electronic documents using just a web browser instead of implementing a complex EDI infrastructure

52
Q

what is B2B e-Marketplaces

A

– trading platform for conducting business among
many buyers, sellers and trading partners
– without complications or significant costs – the infrastructure of the Internet provides the platform
– allows real time transactions, allowing participants to communicate immediately, frequently and accurately
31

53
Q

what are the two types of E-MarketPlace

A

vertical and horizontal

54
Q

what is Vertical E-MarketPlace

A

– Direct/Manufacturinginputs
– Connects buyers and sellers in a given industry
– Quality, specification and delivery are important
(winery example; instead of having different company for grapes, making, packaging, etc… they just do it all themselves or buy the places that do)

55
Q

what is Horizontal e market place

A 
– Maintenance/Repair/Opera
tion (MRO) input
– Connects buyers and sellers across many industries
– Price, delivery and ease of
ordering are primary
considerations.
56
Q

further explain Vertical E-Marketplace

A

 Very specialized in terms of products,
 Deep knowledge about the products and how
the industry operates
 Using long-term contracts with written agreements; negotiated prices

57
Q

further explain Horizontal E-Marketplace

A

 Every business needs MRO inputs
 Can be shipped through 3rd party logistics
providers
 Simplify/streamline the purchase process for MRO products; reduce admin and product cost
 Access to wide variety of products, large number of suppliers, as well as support for auction mechanisms to help larger buyers (or an aggregation of small buyers)

58
Q

what are benefits of Public E-Marketplaces

A

 Greater liquidity (ease, speed, and volume of transactions)
 Reduces marketplace friction

59
Q

what are Private E-Marketplaces

A

Formed by a single company to trade with its business partners (buyers and/or suppliers)

60
Q

what are the 2 sides of private e marketplaces

A

buy-side

sell-side

61
Q

what is buy-side of private e marketplaces

A

Key mechanism: reverse auctions, group

purchasing

62
Q

what is sell-side of private e marketplaces

A

Key mechanisms: electronic catalogs and forward auctions

63
Q

what are the Benefits to Consumers of private e market places

A

 Much more choices, and in some cases, especially with digitized products, allows for quick delivery.
 Enables customers to shop and do transactions 24 hours a day, 7 days a week and 365 days a year.
 Allows customers to receive relevant and detailed information much faster
 Enables consumers to get customized products/services.

64
Q

what are the Benefits to Organizations for private e market places

A

 Decreases cost of creating, processing, distributing, storing and retrieving paper- based information:
 Allows reduced inventories and overhead: EC can minimize supply chain inefficiencies (excessive inventories or delivery delays).
 Helps small businesses to compete with larger companies
 Enables organizations to reach customers outside their immediate area at minimum cost.

65
Q

what are the Benefits to Society for private e marketplaces

A

 More individuals can work at home.
 Some merchandise can be sold at lower prices, allowing less affluent people to buy more and increase their standard of living.
 People in less developed countries and rural areas have access to products and services that otherwise are unavailable.
 Public services can be delivered at a reduced cost and improved quality.

66
Q

what are the Limitations for private e marketplaces

A

Technical
 Lack of universally accepted security standards
 Insufficient telecommunications bandwidth  Expensive accessibility

Non-technical
 Perception that EC is unsecure
 Unresolved legal issues
 Lacks a critical mass of sellers and buyers
 Internet access is still expensive and inconvenient for many potential customers.
 Psychological issues involved – touch/feel; face-to-face.
 In many areas there is not enough critical mass for EC to be successful

67
Q

in summary, private market places are really is a question of…

A

 Credibility  Accuracy  Timeliness  Reliability

U1 Integrated Management INTG 202 (9 decks)

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