Module 3 - Digitalization and business models

Question 1

E-commerce

Answer 1

is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.

Question 2

Digital platform (also: Multi-sided platform

Answer 2

an intermediary that connects various actors (for example, people and organizations).

Question 3

Models that turn data into assets

Answer 3

models that heavily rely on consumer (or user) data in creating value for the customer and for the organization itself.

Question 4

Models that rely on automation-enabled services

Answer 4

models that rely on minimization of human input into carrying our different tasks.

Question 5

Multi-sided platform

Answer 5

an intermediary that connects various actors (for example, people and organizations).

Question 6

Crowdsourcing

Answer 6

the activity collection of information, opinions, or work from a group of people, usually sourced via the Internet. Crowdsourcing refers to outsourcing activities to a crowd.

Question 7

Crowdfunding

Answer 7

the activity of engaging a crowd to finance a project.