Lecture 10

Question 1

Everledger business model: based on a blockchain technology application

Answer 1

Everledger collects data from miners, manufacturers, certification houses and retailers, enabling them to drive a positive social and environmental impact

Clients get a record viewer (on the blockchain data) to check the lifetime story of the diamond including claims made about origin sustainability or chain of custody

Everledger enables banks and insurance firms to offer personalized loans and policies

Question 4

The three blockchain applications

Answer 4

Use bockchain technology to provide services for actors and consumers in the diamond industry

But have made different design choices for their applications

And induce different types of trust

Question 5

The online retail sector consists of

Answer 5

7 segments

Each segment uses internet and IT for specific business model innovations

Question 6

Key theme in online retail

Answer 6

Integration of online and offline operations

Question 7

Retaiil

Answer 7

Personal consumption of goods and services

Question 8

7 segments in the US retail industry

Answer 8

General merchandise

Speciality stores

Food and beverage

Gasoline and fuel

Online retail

consumer durables

Question 9

Trends in online retail

Answer 9

Buying online is now a normal, mainstream experience

Mobile e-commerce in retail is still exploding

Online retail is still the fastest growing retail channel

Informational shopping for expensive goods expands

Speciality retail sites show rapid growth

Channel integration

Big data used for predictive marketing

Question 10

Economic viability

Answer 10

Ability of firms to survive as profitable business firms during speicifed period

Question 11

Two business analysis appraoches to evaluate economic viablity

Answer 11

Strategic analysis (porter)

Barriers to entry/power of suppliers/power of customers/substitute products/intra-competition

Changes in the inducstry value chain (intermediation)

Firm-value chain/core competencies/synergies/technology/social and legal challenges

Financial analysis, performance on
Revenues/cost of sales/ gross margin/ operating expenses/operating margin/net margin

Question 12

Omni channel merchants

Answer 12

Have a network of physical stores as primary retail channel, but also have introduced online offerings (e.g. macy, walmart, sears)

Question 13

Virtual merchants

Answer 13

Are single channel e-commerce firms that generate almost all revenues online (e.g. amazon)

Question 14

Catalog merchants

Answer 14

Have a national offline catalog operation that is their largest retail channel, but also have online capabilities

Question 15

Manufacturer direct

Answer 15

Are single or multi-channel manufacturers who sell directly online (e.g. apple, dell, HP)

Question 16

Single channel firms

Answer 16

Customers experience a single type of touch point

Retailers have a single type of touch point

Question 17

Multi channel firms

Answer 17

Customer sees multiple touch points acting independently

Retailers channel knoledge and operations exist in technical and functional silos

Question 18

cross channel (aspiration)

Answer 18

Customer sees multiple touch points as part of the same brand

Retailers have a single view of the customer but operate in functional silos

Question 19

Omni channel (nirvana)

Answer 19

Customers experience a brand not a channel within a brand

Retailers leverage their single views of the customer in coordinated and strategic ways

Question 20

Omni channel integration

Answer 20

Integrating web operations with traditional physical store operations

Leverage value of physical store
Types of integration, e.g. online order, in store pickup

Question 21

Social media e-commerce growth

Answer 21

Offerings via social media, influencer marketing etc.

Question 22

Service sectore

Answer 22

Includes finance, insurance, real estate, travel, professional services (=legal, accounting, health, education, IT, etc)

Largest and most rapidly expanding part of economies of advanced industrial nations

Concerned with performing tasks in and around households, business firms, and institutions

Question 23

Financial portals

Answer 23

Comparison shopping, services, independent financial advice, financial planning

Revenues from advertising, referrals, subscriptions

Question 24

Account aggregation

Answer 24

Pulls together all of a customers financial data at a personalized website

Privacy concerns: control of personal data, security and so on

Question 25

Online life insurance

Answer 25

ONe of few online insurance with lowered search costs, increased price comparison, lower prices

commodity

Question 26

Four major sectors of online travel service

Answer 26

Airline tickets, hotel reservations, car rentals and travel packages

Question 27

Online career services two main players

Answer 27

CareerBuilder, Monster

Question 28

Five traditional recruitment tools

Answer 28

Classified and print ads, career expos, on-campus recruitment, staffing firms, internal referral programs

Question 29

Online recruiting

Answer 29

More efficient, cost-effective, reduces total time-to-hire

Enables job hunters to more easily distribute resumes while conduction job searches

Ideally suited for web due to information-intense nature of process

Question 30

Hiring by algorithm: sifting online applicaitons for key words

Answer 30

No more interviews, only solving online cases and online testing

Question 31

On demand service companies provide a platform

Answer 31

That enables on demand delivery of various services

By connecting providers (sellers) who wish to exploit their scarce resources (cars, rooms) and ability to perform additional services

With consumers (buyers) who would like to use these resources and services