MIS ch.3 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Digital Darwinism
answer
Implies that organizations which cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction
question
What do steamboats, transistor radios, and Intel's 8088 processor all have in common?
answer
Sustaining technology , Disruptive technology
question
Sustaining technology
answer
Produces an improved product customers are eager to buy
question
Disruptive Technology
answer
A new way of doing things that initially does not meet the needs of existing customers
question
Innovator's Dilemma
answer
discusses how established companies can take advantage of disruptive technologies without hindering existing relationships with customers, partners, and stakeholders
question
Internet
answer
One of the biggest forces changing business, a massive network that connects computers all over the world and allows them to communicate with one another
question
THE INTERNET AND WORLD WIDE WEB
answer
THE ULTIMATE BUSINESS DISRUPTORS Organizations must be able to transform as markets, economic environments, and technologies change Focusing on the unexpected allows an organization to capitalize on the opportunity for new business growth from a disruptive technology
question
Beginning of the internet
answer
The Internet began as an emergency military communications system operated by the Department of Defense Gradually the Internet moved from a military pipeline to a communication tool for scientists to businesses
question
World Wide Web (WWW)
answer
Provides access to Internet information through documents including text, graphics, audio, and video files that use a special formatting language called HTML
question
HTML
answer
hypertext markup language
question
Web browser
answer
Allows users to access the WWW
question
Hypertext Transport Protocol
answer
The Internet protocol Web browsers use to request and display Web pages using URL - universal resource locator
question
Reasons for growth of the WWW
answer
Microcomputer revolution Advancements in networking Easy browser software Speed, convenience, and low cost of email Web pages easy to create and flexible
question
THE CATALYST FOR EBUSINESSThe Internet has had an impact on almost every industry including
answer
Travel Entertainment Electronics Financial services Retail Automobiles Education and training
question
Web 1.0 -
answer
A term to refer to the WWW during its first few years of operation between 1991 and 2003
question
Ecommerce
answer
Buying and selling of goods and services over the Internet
question
Ebusiness
answer
Includes ecommerce along with all activities related to internal and external business operations
question
eBUSINESS aDVANTAGES
answer
expanding global research opening new markets reduce costs improving operations improving effectiveness
question
The Internet's impact on information
answer
Easy to compile Increased richness Increased reach Improved content
question
Mass customization
answer
The ability of an organization to tailor its products or services to the customers' specifications
question
Personalization
answer
Occurs when a company knows enough about a customer's likes and dislikes that it can fashion offers more likely to appeal to that person, say by tailoring its website to individuals or groups based on profile information, demographics, or prior transactions
question
The Long Tail
answer
Refers to the tail of a typical sales curve graph ch.3, slide 19
question
Intermeidary
answer
Agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together
question
Clickstream data
answer
tracks the exact pattern of a consumer's navigation through a website Clickstream data can reveal Number of pageviews Pattern of websites visited Length of stay on a website Date and time visited Number of customers with shopping carts Number of abandoned shopping carts
question
Online ad (banner ad)
answer
Box running across a web page that contains advertisements
question
Pop-up ad
answer
A small web page containing an advertisement
question
Associate program (affiliate program)
answer
Businesses generate commissions or royalties An e-commerce affiliate is a website which links back to an e-commerce site with the goal of making a commission for referred sales In electronic commerce, affilitate earn money in three ways:per click per sale, and per lead.
question
Viral marketing
answer
technique that induces websites or users to pass on a marketing message--social profile gathering, proximity of mkt, real time key word density analysis
question
Website metrics include
answer
Visitor metrics Exposure metrics Visit metrics Hit metrics
question
Ebusiness model
answer
A plan that details how a company creates, delivers, and generates revenues on the internet Business Consumer I--------------I---------------I BusI B2B B2C I---------------I--------------I ConI C2B C2C I---------------I--------------I
question
ebusiness tools for connecting and communication
answer
email, IM, videoconferencing, web coonferencing, podcasting, content managemtn system
question
Common ebusiness forms
answer
Content providers Informediaries Online marketplaces Portals Service providers Transaction brokers
question
web conferencing
answer
type of communication that combines video confering and document sharing and allows you to deliver a presentation over the web to a group of geographically dispersed individuals
question
Web 2.0
answer
The next generation of Internet use - a more mature, distinctive communications platform characterized by three qualities 1. collaboration 2.sharing 3.free
question
Open system
answer
Nonproprietary hardware and software based on publicly known standards that allows third parties to create add-on products to plug into or interoperate with the system Source code Open source
question
User-contributed content
answer
Created and updated by many users for many users
question
Reputation system
answer
Where buyers post feedback on sellers
question
Collaboration system
answer
Set of tools that supports the work of teams or groups by facilitating the sharing and flow of information
question
Collective intelligence
answer
Collaborating and tapping into the core knowledge of all employees, partners, and customers
question
Knowledge management
answer
Involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions KM is not a purely technology-based concept Organizations that implement a centralized database system, electronic message board, Web portal, or any other collaborative tool in the hope that they have established a KMS are wasting both their time and money
question
Knowledge-based assets fall into two categories
answer
Explicit knowledge - Consists of anything that can be documented, achieved, and codified, often with the help of IT Tacit knowledge - Knowledge contained in people's heads
question
Crowdsourcing
answer
the wisdom of the crowd
question
Social media
answer
Websites that rely on user participation and user-contributed content
question
Social networking analysis
answer
Maps group contacts identifying who knows each other and who works together.
question
Social network
answer
An application that connects people by matching profile information
question
Social networking
answer
The practice of expanding your business and/or social contacts by a personal network
question
What types of knowledge management programs could your college pursue to help new students adapt to the college?
answer
Effective study habits Writing rules Research database Course evaluations
question
Tags
answer
Specific keywords or phrases incorporated into website content for means of classification or taxonomy Social tagging Folksonomy Website bookmark Social bookmarking
question
Blog
answer
Online journal that allows users to post their own comments, graphics, and video Microblogging Real simple syndication
question
Wiki
answer
Collaborative Web page that allows users to add, remove, and change content, which can be easily organization and reorganized as required Network effect
question
Mashup
answer
Website or Web application that uses content from more than one source to create a completely new product or service Application programming interface Mashup editor
question
Web 3.0
answer
Based on "intelligent" Web applications using natural language processing, machine-based learning and reasoning, and intelligence applications
question
Semantic Web
answer
A component of Web 3.0 that describes things in a way that computers can understand
question
Egovernment
answer
Involves the use of strategies and technologies to transform government(s) by improving the delivery of services and enhancing the quality of interaction between the citizen-consumer within all branches of government
question
Mobile business
answer
The ability to purchase goods and services through a wireless Internet-enabled device
question
common ebusiness forms
answer
content providers, intermediaries, online market places, portals, service providers, transaction brokers
question
The World is FLat
answer
By Thomas Friedman who argues that the world is Flat because of all the technology connecting everyone in diff. countries
question
Friedmen's 10 Forces that Flattened the world
answer
1. Fall of the Berlin Wall- tilted the world toward democracy 2. Netscape IPO- massive investment in fiberoptic cables 3.Work Flow software-Paypal, VPNs enable faster/ closer communication w/ far away employees 4.Open Sourcing- launched a collaborative revolution 5.Outsourcing-migrating business to India saved the economy & a 3rd world country 6.Offshoring- contract manufacturing elevated China to economic prominence 7.Supply Chaining- increase business efficiency 8.In-sourcing-logistics took control of customer supplu chains causing mom and pop stores to go global 9.Informing-power searching allowed everyone to use the inet as a "personal supply chaiin of knowledge" 10.wireless- wireless technologies pumped up collaboration, making it mobile and personal
question
Profit function
answer
Profit=Sales-Costs
question
variable
answer
is a data characteristic that stands for a value that changes or varies over time ex-price and quantity
question
system
answer
is a collection of parts that link to achieve a common purpose --primary enabler of cross-functional operations
question
successful companies operate...
answer
cross-functionally, integrating the operations of all departments
question
MIS
answer
represents business success and innovation sometimes called "IT" (Information technology) or "IS" (information systems)
question
3 common tools to analyze competitive intelligence
answer
1. The Five Forces Model - for evaluating industry attractiveness 2.The 3 Generic Strategies- for choosing a business focus 3. Value Chain Analysis- for executing business strategies
question
Switching Costs
answer
Costs that make customers reluctant to switch to another product or service --one way to reduce buyer power
question
Loyalty programs
answer
programs that reward customers based on their spending ex- frequent flyer miles ---a way to reduce buyer power
question
High Supplier Power
answer
is bad and allows the suppliers to influence the industry by: -charging higher prices -limiting quality or services -shifting costs to industry participants
question
threat of substitute products or services
answer
is high when there are many alternatives to a product or service nd low when there are few alternatives to choose from
question
Broad Market & Low Cost
answer
Walmart competes by offering a broad range of products @ low prices. Its business strategy is to be the low-cpst provider of goods for the cost conscious consumer
question
Broad Market High Cost
answer
ex- neiman marcus, broad range of differentiated products @ high prices
question
Narrow Market Low Cost
answer
payless-- narrow cuz its just shoes, but cheap
question
Narrow Market High Cost
answer
ex- Tiffany & Co. business strat is to be a high- cost provider of premier designer jewlery to affluent customers
question
Value Chain Analysis
answer
views a firm as a series of business processes that each add value to the product or service
question
Primary Value activities
answer
acquire raw materials & manufacture, deliver, market, sell, and and provide after sales service
question
Support Value Activities
answer
support the primary value activities
question
taxonomy
answer
the scientific classification of organisms into groups based on similarities of structure or orgin, also used for indexing the content on the website into categories & subcategories of topics ex- car is a subtype of vehicle, every car is a vehicle, but not ever vehicle is a car. some vehicles are vans, buses and trucks. -- taxonomy terms are arranged so that narrower/more specific/ "child terms" fall under broader/more generic "parent" terms
question
Organizational Structure
answer
Top of pyramid: STRATEGIC- unstructured decisions: infrequent, extremely important, and typically relate to LT bus strats- ex decision to enter a new market Middle of pyramid: MANAGERIAL- semi structured decisions:few established processes but not enough to lead to a decision ST and Medium Botton of pyramid: OPERATIONAL- structured decisions: made frequently & repetitive in nature, ST business strats
question
podcasting
answer
converts an audio broadcast into a digital music player --can increase marketing research and build customer loyalty
question
swim lane
answer
layout arranges the steps of a business process into a set of rows depicting the various
question
3 conditions that indicate that the time is right to initiate a business process
answer
1. there has been a pronounced shift in the market the process was designed to serve 2.the company is markedly below industry benchmarks on its core processes 3.to regain competitive advantage, the company must leapfrog competition on key dimensions
question
cycle time
answer
the time required to process an order
question
paradigm shift
answer
occurs when a new radical form of business enters the market that reshapes the way companies and organizations behave
question
information richness
answer
refers to the depth and breadth of details contained in a peice of textual, graphic, audio, or video info
question
information reach
answer
measures the #of people a firm can communicate w/ all over the world
question
disintermediation
answer
the introduction of ebusiness brought about this term which occurs when a business sells directly to a customer online and cuts out the intermediary
question
interactivity
answer
measures advertising effectiveness by counting visitor interactions w/ the target ad, including time spent viewing the ad, # of pages viewed, & # of repeat visits to the advertisment
question
stickiness
answer
the length of time a visitor spends on a website -- visit metrics
question
raw visit depth
answer
-- visit metrics the total # of pages a visior is exposed to during a single visit to a website
question
visit depth
answer
-- visit metrics the total # of unique pages a visitor is exposed to during a single visit to a website
question
unidentified visitor
answer
-- visitor metrics A visitor is an individual who visits a website. An "Unidentified visitor" means that no info. about that visitor is available
question
unique visitor
answer
--visitor metrics a unique visitor is one who can be recognized & counted only once within a given period of time
question
identified visitor
answer
--visitor metrics An id is available that allows a user to be tracked across multiple visits to a website
question
hits
answer
--hit metrics when visitors reach a website their computer sends a request to the sites computer server to begin displaying pages. each element of a requested page is recorded by the websites server log file as a "hit"
question
brick -and mortar business
answer
a business that operates in a physical store w/0 an inet prescense ex. tj maxx
question
click-and-mortar business
answer
a business that operate in a physical store and on the inet ex. barnes and noble
question
pure play (virtual) business
answer
a business that operates on the inet only w/o a physical store ex. google
question
e business models
answer
fall into 1 of 4 categories B2C, C2B, C2C, B2B buying from and selling to eachother over the INTERNET
question
REAL TIME COMMUNICATION
answer
OCCURS when a system updates info at the same rate it receives it
question
information architecture
answer
is the set of ideas about how all info in a given context should be organized
question
Asynchronous communication-
answer
or communication such as email in which the message and response dont occur at the same time
question
Synchronous communication
answer
communications that occur @ the same time, such as IM chat
question
folksonomy
answer
similar to taxonomy except the crowdsourcing determines the tags or keyword- based classifications, users simply create and apply tags as they wish ex- while cell phone manufacturers often refer to their products as mobile devices, the folksonomy could include mobile phone, wireless phone, smartphone, iphone, blackberry, ect. -all these key words if searched, should take a user to the same site - reveals what people truly call things
question
social tagging
answer
describes the collaborative activity of marking shared online content with keywords or tags as a way to organize it for future navigation, filtering, or search --entire user community is invited to tag & thus essentially defines the content- eventually it will identify correctly and without bias
question
network effect
answer
describes how products in a network increase in value to users as the number of users increases ex-wilkipedia, more users, more valuable
question
Application Programming Interface
answer
which is a set of routines, protocols,& tools for building software applications (API)
question
Mashup Editors
answer
What YOU See IS What You Get Tools they provide a visual interface to build mashup, often allowing the user to and drop data pts into a Web application
question
Real Simple Syndication
answer
(RSS) is a web format used to publish frequesntlhy updated works , such as blogs, news headlines, audio, & video in a standardized format. An RSS document or feed contains full or summarized text plus other info such as publication date and authoriship. - News sites, blogs, and podcasts use RSS-- feeding news to consumers so they dont have to go find it
question
Open Source
answer
refers to any software whose source code is made available free for any 3rd party to review or modify
question
source code
answer
contains instructions written by a programmer specifying the actions to be performed by computer software
question
microblogging
answer
the process of sending brief posts (140-200 characters) to a personal blog, either publicly or to a private group of subscribers who can read the posts as IMs or as txt messages
question
content providers
answer
generate revenues by providing digital content such as news, music, photos, or videos ex- itunes, netflix, cnn
question
informediaries
answer
provide specialized info on behalf of producers of goods and services ex- bloomber.com, zillow.com
question
online market places
answer
bring together buyers and sellers of products and services ex-ebay, amazon
question
portals
answer
operate central website for users to accesss specialized content & other services ex-google,yahoo
question
service providers
answer
provide services such as photo sharing, video sharing, online back up and storage ex- mapquest, youtube, flickr
question
transaction brokers
answer
process online salesz transactions ex- etrade, charlesschwab,fidelity
question
what is A revenue model?
answer
a model for making money
question
advertising fees
answer
BENEFITS- 1.well- targeted advertisements cAN be perceived as value-added content by trading participants 2. easy to implement CHALLENGES-1. limited revenue potential 2. overdone or poorly targeted advertisments can be disturbing elements to the website
question
what are the various types of ebusiness revenue models?
answer
advertsing fees license fees subscription fees transaction fees value added services fees - all have benefits and challenges to making money
question
license fees
answer
BENEFITS- 1.creates incentives to do many transactions 2. customization and back-end integration lead to lock-in of participants CHALLENGES 1. up-front fee is a barrier to entry for participants 2. price differentiation is complicated
question
subscription fees
answer
BENEFITS- 1. creates incentives to do transactions 2. prices can be differentiated 3. possibility to build revenue from new user groups CHALLENGES- 1. FIXED FEE is a barrier to entry for participants
question
transaction fees
answer
BENEFITS- 1.can be directly tied to savings (both process and price savings) 2. important revenue source when high level of liquidity (transaction volume) is reached CHALLENGES-1.if process savings are not completely visible, use of the system is discouraged (incentive to move transactions offline) 2. transaction fees likely to decrease with time
question
value added fees
answer
BENEFITS- 1. service offering can be differentiated 2. price can be differentiated 3. possibility to build additional revenue from established and new user groups CHALLENGES- 1. cumbersome process for customers to continually evaluate new services
question
content management system (CMS)
answer
help companies to manage the creation, storage, editing, & publication of their website content -userfriendly, include search and navigation, -let users with little or no technical expierence make website changes?? -key principle of good website design-- keep the # of clicks to a minimum
question
challenges of e business
answer
1. identifying limited market segments 2. managing consumer trust 3. ensuring customer protection 4. adhering to taxation rules
question
characteristics of business 2.0
answer
-- content sharing through open sourcing --user-contributed content --collaboration inside the organization --collaboration outside the organization
question
association detection
answer
reveals the relationship among variables as well as the nature and frequency of the relationships --associate program--does that?
question
cybermediation
answer
refers to the creation of new kinds of intermediaries that simply couldnt have existed before the advent of e business ex- comparison shopping sites--kelkoo, online banking
question
reintermediation
answer
steps are added to the value chain as new players find ways to add value to the business process --- as ebusiness matures it has become evident that to serve certain markets in volume, some reintermediation may be desirable ex-- levi strauss thought it would be a good idea to limit all sales to its own website, years later they realized they could reach a bigger market by allowing other companies to sell its products directly to customers
question
social bookmarking
answer
users share,organize, search, & manage bookmarks
question
web 2.0 tools for collaborating
answer
-blogs -wikis -mashups
question
differentiation
answer
is the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as a firm's own product offerings
question
differentiation
answer
is the process of distinguishing a product or offering from others, to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as a firm's own product offerings
