Exam 1 chapters 1-4
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| electronic commerce | the process of buying, selling or exchanging products, services or information via computer networks
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| e-business | broader definition of EC, that includes not just the buying and selling of goods and services, but also servicing customers, collaborating with business partners and conducting electronic transactions within an organization.
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| What dimension (pure vs. partial) is buying an e-book from Amazon? | Pure-Ecomm, because all three dimensions are digital (process, delivery & product).
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| What dimension is buying a book from Barnes and Noble store? | Traditional commerce, all physical dimensions.
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| What dimension is ordering a book from Amazon that gets shipped to your house? (pure vs. partial) | Partial-Ecomm, the process is digital but delivery and product are physical.
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| Draw the Dimensions of EC cube. | 3 dimensions, product, process and delivery.
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| brick & mortar companies | Physical products by physical agents (traditional commerce).
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| Virtual (pure play) organizations | Virtual companies who conduct business solely online (amazon)
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| Click & mortar | Organizations who conduct business both physically and have an extension online.
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| electronic marketplaces (e-markets) | An online marketplace where buyers and sellers meet to exchange goods, services, money or information.
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| What are the five support services in the E-Comm Framework (the house) and give example of each | 1. People (buyers, sellers)
2. Public Policy (legal rules, taxes, privacy)
3. Marketing & Advertising (Promos)
4. Support Services (Logistics, Payments)
5. Business Partnerships (joint ventures, biz affils)
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| business to business | all participants are businesses or organizations (Dell sells applications to businesses)
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| business to consumer | businesses sell to individual consumers (Aldo sells their shoes to consumers)
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| business to business to consumer (b2b2c) | business provides product/service to client business that maintains own customers (travel agency provides hotel/flights to customer)
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| consumer to business c2b | sell products or services to organizations
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| mobile commerce | e-comm transactions conducted in a wireless environment
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| locations based commerce | targeted at specific locations at a specific time
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| intrabusiness EC | internal activities that involve the exchange of goods, services or information among various units and individs in org. (selling corporate products to employees)
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| consumer to consumer | ecomm where consumers sell directly to other consumers (ebay)
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| elearning | online delivery of information for purposes of training or education
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| digital economy | an economy that is based on digital technologies including digital communication networks, computers, software and other related info tech.
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| Draw the business environment impact model | see chap 1 models notes
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| 3 types of business pressures | societal: social responsibility, govt regs
market (economic): global competition, powerful consumers
technological: innovations, obsolescence
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| cycle time reduction | shortening the time it takes for a business to complete productive activity from its beginning to end
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| organizational response strategies to changing biz environments | -strategic systems
-continuous improvement efforts and biz restructuring
-CRM
-e-markets
-empowerment of employees
-supply chain improvements
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| knowledge management | the process of creating or capturing knowledge, storing and protecting it, updating and maintaining and using it
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| mass customization | production of large quantities of customized items
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| business model | a method of doing business by which a company can generate revenue to sustain itself (subset of biz plan or biz case)
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| a business model is composed of these 6 elements: | a description of..:
-the customers
-the products or services
-business process
-resources
-supply chain
-revenues, cost etc.
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| revenue model | description of how the company of EC project will earn revenue
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| types of revenue models: (5), give examples | sales, transactions, affiliate, subscription, advertising
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| value proposition | the benefits a company can derive from using EC
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| How do e-markets create value? | 1. search and transaction cost-efficiency: wider products and services offered, faster and more informed decision making
2. complimentarities: bundling goods and services together to provide more value than from offering them separately
3. lock in: high
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| social networks | web sites that connect people with specified interests by providing free services such as photo presentation, e-mail blogging, etc.
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| digital enterprise | a new business model that uses IT in a fundamental way to accomplish one or more of three basic objectives: reach and engage customers more effectively, boost employee productivity, and improve operating efficiency.
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| corporate portal | a major gateway through which employees, business partners and the public can enter a corporate web site.
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