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Definition
| Exchange of goods, services, and money among firms, between firms and their customers, supported by communication technologies, in particular the internet |
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| Business to Consumer (B2C) |
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Customer account with a retailer, payments made with credit cards online
Ex) Amazon |
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| Business To Business (B2B) |
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Business and Suppliers/ intermediary. Largest form of EC in revenues
Seeking long term relationships |
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| Business to Employee (B2E) |
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| Benefits offered to employees can be changed over the internet |
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| Consumer to Consumer (C2C) |
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| The phenomenon of cutting out the middle man in transactions and reaching customers more directly or efficiently |
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design of business models that reintroduce middlemen in order to reduce chaos
Ex) Traveloicty, Orbitz help people find the best deals |
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Operations solely in the Traditional physical market
Traditional manner of approaching business in a physical location |
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Virtual companies conductiong business electronically
No physical location
focus purely on EC
Compete more effectively on price basis because they do not pay for up keep on a physical comapny
Challenges: returning products is difficult and some people do not feel safe ordering online |
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Definition
- Business operating in both physical and virtual arenas
- increasing IS complexity creates challenges, special skills required to keep up IS
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Paying businesses that bring or refer customers to another business
- Amazon associates program
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- Commision is paid to business for aiding in the transaction
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- Free/product service is supported by advertising on a web site
- paid on per click basis
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- Private website used by firms and compaines for B2B actrivities
- Especially used to manage supply chains
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| Virtual Private Network to transmit information between businesses |
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| Access points through which a business partner accesses secured, proprietary information from an organization |
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| Automate the businesses processes that occur before, during, and after sales have been transacted between a single buyer and multiple suppliers |
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Definition
| Automate the business processes that occur before, during, and after sales have been transacted between a supplier and multiple customers |
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| an internal, private network using web technologies to facilitate the secured transmission of proprietary information within an organization, thereby limiting access to authorized users within the organization |
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| Business model that focuses on the parts of consumer demands outside the mainstream markets |
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| Through technology global markets has become an even playing field due to the ability to transfer information efficiently and quickly |
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| Business process performed by another company |
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| business process performed in house but in a different country |
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| Delegating of a companies logistics operations to a subcontractor that specializes in that operation |
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| focus on domestic customers and ship internationally just for additional revenue |
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Works in a centralized fashion. achieves economics by creating large quantities for all kinds of different market
Problems: can not react quickly to local challenges |
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uses a loose federation of associated business units each with its own independent strategic decisions
Able to react quickly to local problems
Problems: Lack of communication between each federation due to independent strategies |
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| Companies selectively decide which parts of the company to centralize and decentralize |
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| Transistors will double every 18 months |
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| Help identify trends or predict business outcomes |
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| Decision Support System (DSS) |
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Definition
| a special purpose information system designed to support organizational decisions making related to a particular recurring problem |
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Definition
| Allows you to make hypothetical changes to the data associated with the problem |
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| type of intelligent systems that uses reasoning methods based on knowledge about a specific problem domain in order to provide advice , much like a human expert |
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| Intelligent Agent Systems |
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Definition
| also called a bot; works in the background to provide some services when a specific event occurs |
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Definition
| automatically perform a task for the users such as automatically sending a report at the first of the month |
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| Searches for the best prices of a product |
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| Monitoring and Sensing agents |
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| keeps track of key information such as inventory levels and competitive prices |
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| Continuously analyze large data warehouses to detect changes deemed important by the user |
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| Continuously browse the web for information |
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| Malicious agents designed by spammers and other internet attackers to farm email addresses off web sites or deposits spyware machines |
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| Processes associated with procuring goods from an external vendors |
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| Goods are produced based on a forecast and are stocked in a warehouse |
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| Raw materials, subcomponets and accessories are procured based on a forecast but actual manufacturing does not start until orders are recieved |
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| integrated suite of business applications for virtually every department, process, and industry allowing companies to integrate information across operations on company wide basis using one large database |
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| collection of companies and processes involed in moving a product from the suppliers of raw material, to the suppliers of the intermediate component to final production and ultimelly to the consumer |
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Parts or raw materials arrive as they are needed for production.
Orders arrive in smaller quantities but at higher frequencies |
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| suppliers to a manufacture manage the manufactures inventory levels based on pre established service levels |
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| a ripple effect caused by a small forecasting error at the end and as it moves up the supply chain the problem gets bigger and bigger |
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| Customer Relationship Management (CRM) |
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Definition
| create and maintain through the introduction of reliable systems, processes, and procedures, lasting relationships with customers by concentrating on down stream information flows |
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| systems for automating the fundamental business process marketing sales and support for interacting with customers |
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| systems for analyzing customers behaviors and perceptions in order to provide business intelligence |
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| systems for providing effective and efficient communications with the customers from the entire organizations |
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