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digital darwinism

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implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction

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disruptive technology

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a new way of doing things that initially does not meet the needs of existing customers

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sustaining technology

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produces an improved product customers are eager to buy

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internet

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a massive network that connects computers all over the world and allows them to communicate with one another

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web 1.0

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a term that refers to the world wide web during its first few years of operation

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ecommerce

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the buying and selling of goods and services over the internet

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ebusiness

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includes ecommerce along with all activities related to internal and external business operations

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paradigm shift

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a new, radical form of business enters the market that reshapes the way companies and organizations behave

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information richness

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refers to the depth and breadth of details contained in a piece of textual, graphic, audio or video information

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information reach

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measures the number of people a firm can communicate with all over the world

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mass customization

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the ability of an organization to tailor its products or services to the customer's specifications

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personalization

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when a company knows enough about a customer's likes and dislikes that it can fashion offers more likely to appeal to that person

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long tail

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the tail of a typical sales curve

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intermediaries

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agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together

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disintermediation

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occurs when a business sells directly to the customer online and cuts out the intermediary

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reintermediation

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steps are added to the value chain as new players find ways to add value to the business process

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cybermediation

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refers to the creation of new kinds of intermediaries that simply could not have existed before the advent of ebusinesses

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interactivity

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measures advertising effectiveness by counting visitor interactions with the target ad, including time spent viewing the ad, number of pages viewed, and number of repeat visits to the advertisement

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clickstream data

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displays the exact pattern of a consumer's navigation through a website

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business model

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a plan that details how a company creates, delivers, and generates revenues

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ebusiness model

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a plan that details how a company creates, delivers and generates revenues on the Internet

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dot-com

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the original term for a company operating on the internet

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business-to-business (B2B)

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applies to businesses buying from and selling to each other over the internet

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business-to-consumer (B2C)

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applies to any business that sells its products or services directly to consumers online

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eshop (estore, etailer)

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an online version of a retail store where customers can shop at any hour

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consumer-to-business (C2B)

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applies to any consumer that sells a product or service to a business on the internet

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consumer-to-consumer (C2C)

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applies to customers offering goods and services to each other on the internet

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search engine

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website software that finds other pages based on keyword matching similar to Google

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search engine ranking

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evaluates variables that search engines use to determine where a URL appears on a list of search results

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search engine optimization (SEO)

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combines art with science to determine how to make URLs more attractive to search engines resulting in higher search engine ranking

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internet service provider (ISP)

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a company that provides access to the Internet for a monthly fee

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real-time communication

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occurs when a system updates information at the same rate it receives it

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instant messaging

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a service that enables instant or real-time communication between people

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podcasting

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converts an audio broadcast to a digital music player

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videoconference

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allows people at two or more locations to interact via two-way video and audio transmissions simultaneously as well as share documents, data, computer displays, and whiteboards

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web conferencing (webinar)

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blends videoconferencing with document sharing and allows the user to deliver a presentation over the web to a group of geographically dispersed participants

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content management systems (CMS)

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help companies manage the creation, storage, editing and publication of their website content

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taxonomy

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the scientific classification of organisms into groups based on similarities of structure or origin

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web 2.0

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the next generation of internet use, more mature, distinctive communications platform characterized by new qualities such as collaboration, sharing, and free

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open system

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nonproprietary hardware and software based on publicly known standards that allow third parties to create add-on products to plug into or interoperate with the system

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source code

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contains instructions written by a programmer specifying the actions to be performed by computer software

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closed source

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any proprietary software licensed under exclusive legal right of the copyright holder

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open source

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refers to any software whose source code is made available free for any third party to review and modify

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user contributed/generated content

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created and updated by many users for many users

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native advertising

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an online marketing concept in which the advertiser attempts to gain attention by providing content in the context of the user's experience in terms of its content, format, style or placement

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reputation system

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buyers post feedback on sellers

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collaboration system

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a set of tools that supports the work of teams or groups by facilitating the sharing and flow of information

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collective intelligence

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collaborating and tapping into the core knowledge of all employees, partners and customers

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knowledge management (KM)

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involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions

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knowledge management system (KMS)

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supports the capture, organization and dissemination of knowledge throughout an organization

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explicit knowledge

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anything that can be documented, archived, and codified, often with the help of MIS

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tacit knowledge

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the knowledge contained in people's heads

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crowd-sourcing

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collective intelligence, the wisdom of the crowd

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crowdfunding

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sources capital for a project by raising small amounts from a large number of individuals, typically via the internet

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asynchronous communications

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communication such as email, in which the message and the response do not occur at the same time

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synchronous communication

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communications that occur at the same time, such as IM or chat

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social media

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websites that rely on user participation and user-contributed content, such as Facebook, YouTube, and Twitter

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social network

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an application that connects people by matching profile information

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social networking

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the practice of expanding your business and/or social contacts by constructing a personal network

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social networking analysis (SNA)

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maps group contacts identifying who knows each other and who works together

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social graphs

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represent the interconnection of relationships in a social network

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MIS chapter 3 terms

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