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MIS > Lecture 4 > Flashcards

Lecture 4 Flashcards

1
Q

What are the benefits of the internet?

A
  1. Direct communication
  2. Extend distribution channels
  3. Reduces information asymmetry
  4. Reduce or increase switching costs
  5. Provides new business model
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2
Q

What is the difference between e-commerce and e-business?

A

E-commerce: only transactions

E-business: doing business on the internet

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3
Q

What are the features of e-commerce?

A
  1. ubiquity
  2. global reach
  3. universal standards
  4. richness (=rich information)
  5. personalization/customization
  6. interactivity
  7. information density
  8. social technology
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4
Q

What are the basic categories of e-commerce?

A 
B2C (business-to-customer)
B2B (business-to-business)
C2C (consumer-to-consumer)
G2C (government-to-citizens)
M-commerce (mobile commerce)
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5
Q

What are the business model for e-commerce?

A
  1. virtual storefront
  2. information broker
  3. transaction broker
  4. online marketplace
  5. content provider
  6. service provider
  7. community provider
  8. portal
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6
Q

What is the most popular web 2.0 service?

A

social networking

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7
Q

What is the meaning of wisdom of crowds?

A

Internet of crowd is better than small amount of people (ex: goldcorp case = gold mining company)

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8
Q

What is crowdsourcing?

A

large number of people can make better decisions about topics and products than a single person

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9
Q

What is the meaning of long-tail theory?

A

Benefit comes from the small number of consumers (the tail becomes longer and thicker). Therefore, we must focus on the tail for the benefit

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10
Q

What type of marketing are there in e-commerce?

A
  1. long-tail marketing
  2. behavioral marketing
  3. internet advertising formats
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11
Q

What are the new ways to identify and communicate with customers in e-commerce?

A
  1. personalization
  2. behavioral targeting
  3. social e-commerce
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12
Q

What tool does behavioral targeting use?

A

clickstream tracking tool

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13
Q

What is social e-commerce?

A

Use social network(social graph) to do e-commerce.

Social graph is mapping of all significant online relationships

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14
Q

What are the 4 features of social e-commerce driving its growth?

A
  1. social sign-on
  2. collaborative shopping
  3. network notification
  4. social search(recommendation)
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15
Q

What internet-enabled technologies are used in B2B e-commerce?

A
  1. electronic data interchange (EDI)
  2. private industrial networks (private exchanges)
  3. net marketplaces
  4. exchanges
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16
Q

What is EDI?

A

The transmission of electronic business forms between business partners.
Enables the computer-to-computer exchange between two organizations of standard transactions

17
Q

How does EDI work?

A

EDI transactions are system generated by the sender and then transmitted to the receiver by a VAN

18
Q

What is VAN?

A

VAN(Value added network) providers are private network operators that provide guaranteed delivery

19
Q

What is the largest web-based form of B2B commerce?

A

Private industrial networks (private exchanges)

20
Q

What provides a single digital marketplace based on internet technology for many different buyers and sellers?

A

Net marketplaces (e-hubs)

21
Q

What benefits do net marketplaces(e-hubs) give?

A

It lowers search costs, transaction costs and gives wider selection

22
Q

What is the fastest growing form of e-commerce these days?

A

m-commerce

23
Q

What are the main areas of growth of m-commerce?

A
  1. retail sales at top mobile 400
  2. sales of digital content (music, TV, etc)
  3. local search for restaurants, museums, and stores
24
Q

What is LBS(location-based services)

A

It is based on GPS map services to detect their customers. They provide information based on the GPS data

25
Q

What types are there in LBS?

A
  1. geosocial services (where friends are)
  2. geoadvertising (what shops are nearby)
  3. geoinformation services (price of house you are passing)
26
Q

What are the challenges of m-commerce?

A 
slow data(speed), battery, small web sites etc.
(batter issue is the biggest problem)
27
Q

What is intranet?

A

private network that uses internet protocols, network connectivity, and possibly the public telecommunication system to securely share part of an organization’s information or operations with its employees

28
Q

What are the benefits of intranet?

A
  1. connectivity
  2. scalable to larger/smaller computing platforms
  3. easy to use, universal standard web interface
  4. low start-up costs
29
Q

What are the opportunities of internet in a firm?

A

new products and services, distribution channels, business models

30
Q

What are the challenges of internet in a firm?

A

management challenges:
finding a successful internet business model
organizational change challenges
trust, security, and privacy (major challenge)

31
Q

What are the guideline of using internet in organizations?

A

safeguarding security and privacy
managing business process changes
determining how internet technology can provide value for the business

MIS (4 decks)

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