Exam 2 MIS 300 – Flashcards

A business model is a plan that details how a company creates, delivers, and generates revenues. E-business models are plans that detail how a company creates, delivers, and generates revenues on the Internet. Business to business (b2b) applies to businesses buying from and selling to each other over the Internet. Examples include medical billing service, software sales and licensing and virtual assistant businesses. Business to consumer (b2c) applies to any business that sells its products or services directly to consumers online. Car-fax is a good example because customers find out about detailed history about a car for a fee. Consumer to business (c2b) applies to any consumer who sells a product or service to a business on the Internet. An example is priceline.com where people set their own price they are willing to pay for tickets and then the business sees if it can be done. Consumer to consumer (c2c) refers to when consumers get together to sell something through the Internet. A great example of c2c is craigslist. People can use craigslist to meet up with other people and exchange goods or services.

A company can use mass customization and personalization to decrease buyer power because that company provides exactly what the customer wants. For example if someone needs certain computing requirements then they can get exactly what they need without compromising anything which means most people are willing to pay the price for convenience so it then limits their buying power.

Collective intelligence is collaborating and tapping into the core knowledge of all employees, partners, and customers. Knowledge management involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions. The goal is to make sure all the company's gathered information is readily available to its employees. Crowdsourcing is referring to the idea of wisdom of the crowd. It is the idea that collected intelligence is greater than the sum of its individual parts. The differences between the three are as follows, collective intelligence is the gathering of just that, intelligence/knowledge. Knowledge management is just what is done with that intelligence/knowledge and how can a company use it. And crowd sourcing is a method used to gather that information/knowledge.

Knowledge management is critical to a business because it allows for a business to have access to information about anything they would need to perform and succeed as a business. For example if you worked for an customer service center you would need to have access to other employees solutions to problems in order to solve more problems for customers who are calling and have problems that need solved. That's where knowledge management comes into play.

Disintermediation occurs when a business sells directly to the customer online and cuts out the intermediary, it is shortening steps and taking away from processes. Re-intermediation is when steps are added to the value chain as new players find ways to add value to the business process. Cyber-mediation refers to the creation of new kinds of intermediaries that simply could not have existed before the advent of e-business. Disintermediation is taking away from a process, re-intermediation is adding to a process to add value, and e-business is adding a step/value due to advances in technology like the Internet (Citi Bank Online).

The semantic web is a component of web 3.0 that describes things in a way that computers can understand. It is not about links between webpages rather it describes the relationship between things. If information about cars and music is stored in a way that describes the information and associated resource files, semantic web applications can collect information from many different sources, combine it, and present it to users in a meaningful way. This is all speculative though.

M-business refers to the technology that allows goods to be purchased through a wireless Internet enabled device. For example apps are m-business products because they are purchased on a phone of tablet and are designed to be used on a mobile device. E-business refers to the use of the internet to purchase goods and services or in general the use of business online. The two differ because m-business is specifically using a phone or tablet through a specially designed browser to conduct business while e-business is just the use of the Internet to conduct business. The two are related but the difference lies in the actual design of m-business (mobile).

Ethics are the principles and standards that guide our behavior toward other people. It is important for businesses because that's how they will interact with customers. It is basically how a business conducts business and treats employees and customers.

Information management examines the organizational resource of information and regulates it definitions, uses, value, and distribution ensuring it has the types of data/information required to function and grow effectively. Information governance is a method or system of government for information management or control. Information compliance is the act of conforming, acquiescing, or yielding information. These are all related topics because they all play a huge role in legal proceedings and litigation.

E policies are policies and procedures that address information management along with the ethical use of computers and the Internet in the business environment. They are important because they govern how a business uses the Internet and computers and the rules the business has with regards to their use.

Confidentiality is like keeping a secret. Like having information about customers. Privacy is not telling anyone information in the first place. You have the information about customers but you refuse to disclose the information to a third party.

Adware is software that while purporting to serve some useful function and often fulfilling that function also allows Internet advertisers to display advertisements without the consent of the computer user. Spyware is a special class of adware that collects data about the user and transmits it over the Internet without the users knowledge or permission.

The positive aspect of monitoring employees is that the company can be sure that company time and property are being used to do business related tasks. It can be used to correct employees as well if they are not complying with company policy. The negative aspect is that it takes company resources to monitor employees. Those resources could be used elsewhere.

Hackers are experts in technology who use their knowledge to break into computers and computer networks, either for profit or just motivated by the challenge. A virus is software written with malicious intent to cause annoyance or damage. Some hackers create and leave viruses causing damage. They are related because hackers create and place viruses.

Security is more of a business issue than a technology issue because it affects all businesses now. The technology is there businesses just need to go about getting and maintaining said technology. Its just become part of every businesses plan and it should be expected that every business needs to focus on security.

Authentication and authorization. Authentication is a method for confirming a users identity. It also allows the user to access information within their permissions. Authorization is the process of providing a user with permission including access levels and abilities such as file access, hours of access, and amount of allocated storage space. These are two ways a company can keep its information secure.

A company participating in Ebusiness can practice content filtering (through emails and filters it), encryption, public key encryption, certificate authority, digital certificates, firewalls, and antivirus software is all used to help protect a business and safeguard their information.

Ediscovery refers to the ability of a company to identify, search, gather, seize, or export digital information in responding to litigation, audit, or investigation or even an information inquiry. It is important because it allows the business to quickly provide information to whoever has requested it.

A company experiences downtime when a system is unavailable. It can happen for any reason: car crash, power outage, extreme weather, faulty components, sabotage, virus, wind, dust, and many other reasons.

Costs of downtime vary from company to company. The costs include the potential business/sales that could have occurred during the said downtime. It also includes future sales since people may not be willing to take their business to somewhere that has experienced downtime in the past. It could also take a hit on the companies marketing budget depending on how long the downtime occurs. And finally the costs of fixing the problem that caused the downtime are also included.