Download EBusiness Terms and Definitions: From EFT to Value Chain and more Quizzes Electronics in PDF only on Docsity!
EBusiness
All business activities that use internet technologies/computer network Involves the "transformation of key business processes through the use of Internet technologies" (IBM) ** based on: EFT, EDI, VAN, LAN/WAN TERM 2
EFT
DEFINITION 2 Electronic funds transfer TERM 3
EDI
DEFINITION 3 Electronic Data Interchangebetween trading partners B2B transmission of computer related data in standard format - reduces errors, avoids printing & mailing costs (ex. Walmart) TERM 4
VAN
DEFINITION 4 Value Added Networks Independent firm offering EDI connection & transaction forwarding services TERM 5
LAN/WAN
DEFINITION 5 Local & Wide Area Networks(the internet being the largest WAN)
E-Commerce
Transactions such as buying and selling goods and services; that are conducted over (and enhanced by) internet technologies, especially the Web Began in US, now China is the leader (2013) TERM 7
First Wave
DEFINITION 7 1995- Technology: piracy, hacking, security troubles Result: dotcom boom and bust TERM 8
Second Wave
DEFINITION 8 2004- International Tech: better security and web 2.0 features; legal dist. of digital media Result: steady and significant NA growth TERM 9
Third Wave
DEFINITION 9 2010-present Mobile and social commerce Crowdsourcing Big data analytics TERM 10
B2C
DEFINITION 10 Business to Consumer: customers shopping online. Ex Amazon.com
Barriers/Difficulties
4 barriers:1) need for critical mass of customers with appropriate technology (ROI)2) unpredictability in costs and revenues.3) insufficient tools for hardware & software integration (poor product choices4) cultural & legal barriers (intl. nature) TERM 17
Business Model
DEFINITION 17 set of processes combined to achieve company goal. Ex.- purchasing raw materials or goods for resale, hiring & training employees, managing business finances TERM 18
Revenue Model
DEFINITION 18 specific collection of business processes used to identify, market and make sales to customers TERM 19
Transaction Costs
DEFINITION 19 total costs a buyer and seller incur while gathering info and negotiating purchase-and-sale transaction. (incl. brokerage fees & sales commissions, cost of info search & acquisition) TERM 20
Network Effects
DEFINITION 20 Exception to law of diminishing returns (burger consumption). As more ppl or orgs participate in network, the value to each participant increases. Ex. emails, landlines
Value Chain
organizing SBI activities to design, product, promote, deliver, market, and support the products/services
