BUS 391 Ch.3

(THIS) E-Business Advantages:

- Expand Global Reach (online stores have a global marketplace) - Open New Markets - Reduce Costs - Improve effectiveness - *Improve operations*

(THIS) What are the *challenges of Business 2.0*?

- technology dependence - Information vandalism - violations of copyright & plagiarism

(THIS) Main e-Business Tools for connecting & communicating (List of 6):

1. Email 2. Instant Messaging 3. Podcasting 4. Videoconferencing 5. Web conferencing 6. Content Management Systems -CMS

(THIS) 4 Challenges of e-Business (business 1.0):

1. Identifying limited market segments (The lack of growth in some sectors due to P or S limitations, an ex is the food sector bc food products are perishable & consumers prefer to buy them at the store/also fragile goods) 2. Managing consumer trust (Internet marketers must develop a trustworthy relationship). 3. Ensuring consumer protection (protecting them from invasion of privacy or unsolicited services). 4. Adhering to taxation rules

(THIS) What were the reasons for the growth of the world wide web (www)?

1. Microcomputer revolution made it possible for an average person to own a computer. 2. Computers could Connect to Larger networks. (Advancements in networking hardware/software allowed business computers to be connected to larger networks at a minimal cost). 3. Browser software provided users an *easy-to-use graphical interface* to find and display webpages 4. The Speed/convenience/ and low cost of email 5. Basic webpages are easy to create.

What are the 4 e-business models?

B2B B2C C2B C2C

(THIS) Web 3.0 = A precise definition of Web 3.0 is difficult to pin down, but most descriptions agree that a *fundamental characteristic* is its ability to make ____________ and _____________.

Based on *intelligent web applications* using natural language processing, machine-based learning & reasoning, and intelligence applications. make connections and infer meaning

(THIS) What are the *Business 2.0 tools for collaborating*? _______= Collaborative website that allows users to add, remove, and change content. (wikipedia) ________= An online journal that allows users to post their own comments, graphics, and videos ______ = Content from multiple sources to create a new product or service (zillow)

Blog Wiki Mashup Wiki Blog Mashup

_____ = A business that operates in a physical store without an Internet presence. (TjMaxx) ____ = A business that operates in a physical store and on the Internet. Example: Barnes & Noble ____ = A business that operates on the Internet only without a physical store. Example: Google

Brick and Mortar Click and Mortar Pure Play

3.2 BEYOND WEB 1.0 : Web 2.0 (Business 2.0) Web 3.0 What are the NEW qualities of WEB 2.0?

Collaboration Sharing Free

(THIS)*** What are the *characteristics of Web 2.0.*?

Content sharing through open sourcing User-contributed content Collaboration inside the organization Collaboration outside the organization

(THIS) ______ = A plan that details how a company creates, delivers, and generates revenues on the internet

E-BUSINESS MODEL

(THIS) ____ = an online version of a retail store where customers can shop at any hour. What are the 3 ways to operate as a B2C?

E-shop/E-store 1. Brick & Mortar 2. Click & Mortar 3. Pure Play

_______ = the buying and selling of goods and services over the Internet.

Ecommerce

____ = Its chief business advantage is the ability to inform and communicate with many people simultaneously, immediately, and with ease. ____ = converts an audio broadcast to a digital music player. ____ = a service that enables instant/real-time communication b/w ppl (Answer simple questions quickly and easily). ____ = allows ppl at 2 or more locations to interact via two-way video and audio transmissions simultaneously as well as share documents, data, computer displays, and whiteboards. ____= blends videoconferencing w doc sharing & allows the user to deliver a presentation over the web to a group of geographically dispersed participants. ____ = helps companies manage the creation, storage, editing, and publication of their website content (let users with little or no technical expertise make website changes).

Email Podcasting Instant Messaging Video conferencing (can increase productivity b/c users participate without leaving their offices). Web conferencing (ex: to deliver lectures to students) Content Management Systems

(THIS) For "expand global reach" advantage: ____= Details contained in a piece of textual, graphic, or video information. --> who needs this the buyers or sellers? ____= Measures # of ppl a firm can communicate w all over the world. --> who needs this the buyers or sellers?

Information Richness (buyers/ to make informed purchases) Information Reach (sellers/ to market & differentiate themselves from competitors).

(THIS) For "Improve Effectiveness" advantage: _____= Measures advertising effectiveness by counting visitor interactions with the target ad, including time spent viewing the ad. ** ____ = Can TRACK the exact pattern of a consumer's navigation through a site. WHAT ARE SOME EXAMPLES?

Interactivity Clickstream data EX: length of stay on a website & # of abandoned shopping carts.

For "REDUCE COSTS" advantage: _____= are agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together. The introduction of EBUSINESS brought about ___________, which occurs when a business sells directly to the customer online & cuts out the intermediary (*Which shortens order process and ads value w/ reduced costs*) _____= steps are added to the value chain as new players find ways to add value to the business process. ____ = refers to the creation of new kinds of intermediaries that simply could not have existed before the advent of ebusiness, including comparison-shopping sites such as Kelkoo.

Intermediaries Disintermediation Reintermediation (ex: Levis allows other retailers to sell its products to customers directly too!). Cybermediation

(THIS) What is the purpose of a *Search Engine*? _____= combines art with science to determine how to make URLs more attractive to search engines resulting in higher search engine ranking. ____ = Evaluates variables that search engines use to determine where a URL appears on the list of search results

It's a *website software* that finds other pages based on keyword matching. SEO (Search Engine Optimization) Search Engine Ranking

For "Open new Markets" advantage: _____ = the ability of an organization to tailor its products or services to the customers' specifications. _____ = 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 (ex: amazon)

Mass customization Personalization

(THIS) _____ = occurs when a new, radical form of business enters the market that reshapes the way companies and organizations behave.

Paradigm Shift

What is the business value of disintermediation? (What is the benefit)

Reduce costs

** _____ = A component of Web 3.0 that describes things in a way that computers can understand. The semantic web is not about links between web pages; rather it describes the relationships between things (such as A is a part of B and Y is a member of Z) and the properties of things (size, weight, age, price).

Sematic Web

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

Taxonomy

(THIS) _______ is a term to refer to the World Wide Web during its first few years of operation.

Web 1.0

During (web 2.0 or 1.0) ______, entrepreneurs began creating the first forms of ebusiness.

Web 1.0

(THIS)_____ = Allows users to access the world-wide web

Web Browser

B2B WHEN: B2C WHEN: C2B WHEN: C2C WHEN:

When businesses buy from and sell to each other over the internet. When businesses sell their P or S's to consumers over the Internet. When consumers sell P or S's to businesses over the Internet. When consumers offer P or S's to each other over the Internet (Craigslist/ eBay)

(THIS) ** Web 2.0=

a more distinctive communication platform characterized by 3 qualities collaboration, sharing and free.

** _______ technology: is a new way of doing things that initially does not meet the needs of existing customers, but tend to open new markets and destroy old ones. ** _____ technology: on the other hand, produces an improved product customers are eager to buy, such as a faster car or larger hard drive. These technologies tend to provide us with better, faster, and cheaper products in established markets.

disruptive technology sustaining technology

(THIS) ** Ebusiness includes _____

ecommerce along w all activities related to internal & external business operations

_____ = Ability to buy p/services through a wireless Internet- enabled device Ex: Starbucks Mobile ordering

m-business ("supporting anywhere business")

Ecommerce refers only to ______.

online transactions