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ISA - 201 > Chapter 7: E - Business + E - Commerce > Flashcards

Chapter 7: E - Business + E - Commerce Flashcards

1
Q

Electronic Commerce (E- Commerce)

A

The process of BUying, SElling, TRansforming, or EXchanging Products, Services, or Information via Computer networks, including the Internet

BUSETREX

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2
Q

Electronic Business (E - Business)

A

Much broader concept than E - Comm

SErvicing Chstormers, COlabborating with Bu partners, + PErforming Electronic Transcations within an Organization

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3
Q

Degree of Digitization

A

The extent to which the commerce has been transformed from physical to digital

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4
Q

Types of Orgs based on Degree of Digitization of its Bu

A
  1. Brick-and-Mortar orgs (I.e. Gulshan Bookstore, Kashmir), low/no Degree of Digitization
  2. Virtual Orgs (I.e Netflix), High DeoDi
  3. Clicks-and-Mortar Orgs (I.e Amazon, Carrefour), Middle DeoDi
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5
Q

Types of Product + Delivery

A
  1. Digital Product, Physical Delivery (Baking tutorial in VD, delivered to doorstep)
  2. Digital Product, Digital Delivery (I.e Jurassic World Alive in - game purchases?)
  3. Physical Product, Physical Delivery (I.e Getting a book or toolbox from Amazon)
  4. Physical Product, Online Delivery (I.e Airline tickets)
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6
Q

Types of E - Commerce (these different from EComm Bu models + Mechanisms)

A
  1. Bu2Bu (B2B): Both Buyers + Sellers = Bu Orgs, B2B comprises vast majority of EC Volume (i.e. Rubber Extracting comp and Car tire Manufacturer)
  2. Bu2Consumer (B2C): Sellers = Orgs, Buyers = Individual’s (consumer/Cu?)

(i.e. Kinokuniya Bookstore sells Books to Cu’s)

  1. C2B: Buyers = Org, Sellers = Individual (I.e Freelance Weiter writing for a Online Newspaper)
  2. Bu2Emp (B2E):

Org uses EComm internally to provide info + services to its Emp’s

(i.e Office job worker gets resources via office online resource database?)

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7
Q

Types of Ecomm P2

A

E - Government: is the use of Internet technology in general + Ecomm in particular to deliver Info + Public Services to Citizens

Gov2Citizen (G2C): Gov to Citizen (I.e. Car registration¿????????)

Gov2Bu (G2B): G2B Ecomm is much like B2B Ecomm, usually with an overlay of Gov Procurement Regulations (I.e Gov work with Bu on something?)

Mobile Commerce (MComm):

Ecomm that is conducted in a wireless environment (i.e. Mobile Banking, I.e. example from Google search)

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8
Q

Ecomm Bu Models P1

A
  1. Online Direct Marketing: Manufacturers or Retailers sell directly to Cu’s

Very efficient for digital Prod & Serv’s

Can allow for Or &Sr Customization

(There problem about distributors being cut because of this?)

  1. Electronic Tendering System:

Bu’s request quotes from Suppliers, use B2B with reverse auction mechanism (I.e. the more Lower the price of Supplier’s package, Bu more likely to buy)

  1. Name-your-own-price:

Cu’s decide how much they are willing to pay, an Intermediary tries to match a provider (I.e Buy T - shirt at your own chosen price, pther website finds best price for you?)

  1. Affiliate Marketing:

Vendors ask partners to place Logis (or banners) on Partner’s site

If Cu click on logo, go to vendor’s site + make a purchase, vend pays commisions to partners (I.e. Quizlet allowing ass for Dubizzle on their website)

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9
Q

Ecomm Bu Models P2

A
  1. Find-the-best-price:

Cu’s specify a need, an Intermediary compares providers + shows the lowest price

Cu’s must accept offer in short time, otherwise thye might lose the deal ( I.e. Intermediary finds deal where a Cu can buy 40 Eggs for 1 Dirham, have to act fast to get it)

  1. Viral Marketing:

Recipients of your marketing notices (/) sends info about your product to friends (I.e. could be after seeing interesting ad like Darth Vader VW car ad?)

  1. Group Purchasing:

(e-coops) Small Buyers aggregate Demand to create a large volume: The group then conducts Tendering or negotiates a lower price (I.e Groupons, Get a pizza for free if you buy it for yourself and 7 other friends?)

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10
Q

Ecomm Bu Models Part 3

A
  1. Bartering Online:

Intermediary administers online exchange of surplus products and/or comp receives “points” for its contribution, which it can use to purchase other needed items

(i.e. a Salt producing company exchanges salt surplus with a company that harvests Coffee)

  1. Deep Discounters:

Comp offers deep price discounts, it appeals to Cu’s who consider only price in their purchasing decisions (i.e. a Company offers 80% off of Dates for Ramadhan)

  1. Membership:

Only members can use the Serv’s provided, including: access to certain info, condcting trades, etc

(i.e. Car Dealership Membership at Rolls - Royce?)

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11
Q

Ecomm Bu Models P4

A
  1. Online auctions:

Comp’s run auctions of various types on the Internet

Very popular in C2C, but gaining grounds in other types of Ecomm as well

(i.e. Auction to buy a Gold Button on E - Bay)

  1. Product Customization:

Cu’s use the internet to self configure Prod’s or Serv’s

Sellers then price them + fulfill them quickly (i.e. VW Car allow for Customization of Interior + Exterior etc)

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12
Q

Major Ecomm Mechanism/Rev Models (different from Types + Models) P1

A
  1. Auction:

A competitive Buying + Selling process in which Prices are determined dynamically by competitive bidding

  1. Forward Auctions:

Sellers solicit bids from many potential Buyers + Prices tend to inc over time

  1. Reverse Auctions:

1 Buyer (usually an org), wants to purchase a Prod & Serv + (the) Buyer posts a Request For a Quotation (RFQ) on its Web site or on a 3rd party site

Prices tend to dec over time

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13
Q

Major Ecomm Mechanism s/Rev Models P2

A
  1. Electronic Storefront:

A Web site that represents a single store (i.e. P.F Chang’s UAE website? represents P.F Chang’s not Jolilbee in UAE)

  1. Electronic Mall:

(also known as Cybermall or E-mall)

A collection of individ shops consolidated under 1 Internet address + they are closely associated with B2C electronic commerce

  1. Electronic Marketplace (E - Marketplace):

A central, virtual market space on the Web where many Buyers + many Sellers can conduct Ecomm + E - Bu activities

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14
Q

EPM 1: Electronic Payment Mechanisms

A

Enable Buyers to pay for G & S’s electronically, rather than writing a check or using cash

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15
Q

EPM 2: Electronic Checks (E - Checks)

A

Which are used primarily in B2B, are similar to regular paper check

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16
Q

EPM 3: Electronic Cards

A

There are a variety of electronic cards, and they used for diff purposes (someone could have many cards that do 1 function each, or 1 that is multi- - functional?)

Most common types are:

Electronic Credit Cards, Virtual Credit Cards, Purchasing Cards, Stored - value Money Cards, + Smart Cards

17
Q

EPM 4: Bitcoins

A

Bitcoin = a type of digital currency in which encryption techniques are used to regulate the generation of units of currency + verify the transfer of funds,

Operating independently of any central bank (Teacher read some studies that show a bit otherwise?)

18
Q

EPM 5: NFT (Non Fungible Token)

A

Is a non - interchangeable unit of data stored on a blockchain, a form of digital ledger (Sad Monkey)

19
Q

How E - Credit cards work

A

Step 1:

When you purchase book from Amazon (for i.e.), your Credit card info + Purchase amount are encrypted in your browser

This procedure ensures the info is safe while it is “traveling” on the Internet to Amazon

S2:

When your info arrives at Amazon, it’s not opened

Rather, it’s transferred automatically (in encrypted form) to a Clearing house, where it’s Decrypted for Verification + Authorization

S3:

The Clearing House asks the Bank that issued your credit card (the Card Issuer Bank) to verify your Credit Card info

S4:

Your Card Issuer Bank verifies your Credit Card info + Reports this to the clearing House

20
Q

How E - Credit cards work P2

A

S5:

Clearing House reports the result of the Verification of your Credit Card to Amazon

S6:

Amazon reports a successful purchase + amount to you

S7:

Your Card Issuer Bank sends funds in the amount of the purchase to Amazon’s bank

S8:

Your Card Issuer’s Bank notifies you (either electronically or in your monthly statement) of the debit on your Credit Card

S9:

Amazon’s bank notifies Amazon of the funds credited to its account

21
Q

Benefits + Limitations of E - Comm P1

A

Benefits:

  1. National + International Markets are more Accessible (national markets could have limited number of items)
  2. Lower Costs of Processing, Distributing, + Retrieving Info (i.e. no need to go around and pay extra gas cost to get gGoceries)
  3. Provides access to a vast # of Pr & Sers 24/7 (i.e. Carrefour online vs Carrefour in-store, can order at 2AM))
  4. Deliver (s?) Info, Serv’s, and Prod’s to people in Cities, Rural areas, + Developing Countries
22
Q

Benefits + Limitations of Ecomm P2

A

Limitations:

  1. Lack of Universally Accepted Security Standards (i.e. what is legal in one country or not. legal in another, Crocodile leather)
  2. In Less - developed countries, Telecommunications bandwith is often insufficient + Web Access is Expensive (not exactly as true for many countries anymore)
  3. Perceptions that Ecomm is insecure (hacking/fraud)
  4. Unresolved Legal issues (hacking again?)
  5. Lacks a critical mass of Buyers + Sellers (?)
23
Q

B2C Ecomm

A

Electronic Storefront + Malls

Online Serv Industries

Issues in E - Tailing (online Retailing)

B2C Ecomm Diagram:

  1. Convert Visitors to Buyers
  2. Acquire more Cu’s
  3. Support 24/7 (good Cu service/experience)
  4. Grow Online Rev

Double - headed Arrows between each of diagram parts

24
Q

Online Services Industry

A
  1. Disintermediation:

(problem that arise when Manufacturers/Retailers don’t need/no use?intermediaries)

  1. Cyberbanking ()
  2. Online Securities Trading ()
  3. The Online Job Market (needed for furture? Linkedin?)
  4. Travel Services ()
  5. Online Advertising (Youtube ads?)
  6. Advertising Methods ()
25
Q

Advertising Methods

A
  1. Banners (things on websites, send viewer to external link, Partner that put banner on their website gets Commision?)
  2. Pop - up Ads (thing son websites, more regulated nowadays)
  3. Pop - under ads (come under thing you’re reading?)
  4. Spamming (ads that may lead to scam link?)
  5. Permission Marketing (you get to choose which ads can be sent/shown to you)
  6. Viral Marketing (mentioned before, VW Darth Vader kid ad, Superbowl)
26
Q

Issues in E - Tailing

A
  1. Channel Conflict:

A situation in which Clicks-and-Mortar Comps face a conflict with their regular Distributors when they begin selling directly to Cu’s online

  1. Multichanneling (or Omni-channeling):

A process in which Comps integrate their online + offline channels (?)

  1. Showrooming:

Occurs when shoppers visit a Brick-and-Mortar store to examine a product in - person, then conduct research about the product on their smartphones

In these situations, Cu’s often purchase the Prod from the Web site of a Competitor of the store they are visiting

27
Q

B2B Ecomm

A

Sell - Side Marketplaces

Buy-Side Marketplaces

Electronic Exchanges

Diagram on B2B Ecomm:

  1. Improve operational Efficiency
  2. Rich C Experience

Buyer Centric Marketing

Double - headed Arrows between each of diagram parts

Not only about making a bottom - Line

28
Q

Key Mechanism for Sell - Side Marketplace

A

Forward Auctions

Electronic Catalogs

3rd Party Auction Sites

29
Q

Buy - Side Marketplace Model

A

Procurement (of resources?)

Purchasing

Reverse Auction

E - Procurement

Group Purchasing

30
Q

Electronic Exchanges:

3 Basic Types of Public Exchanges

A
  1. Vertical Exchanges:

Connect Buyers + Sellers in a given industry

(i.e. Buyer of phones can buy a Phone from a Phone Comp via Vertical exchange?)

  1. Horizontal Exchanges:

Connect Buyers + Sellers across many industries

(i.e. Car companies can buy Chips from Chip manufacturers via Horizontal Exchange)

  1. Functional Exchange:

Needed Services such as:

Temporary help/Labor or Extra Office Space are traded on an “as-needed” basis

(i.e. One comp has most of Cu in San Francisco, but has offices in California, switch office space with other comp with reverse conditions (Offices in Cali, Offices on San Francisco)

31
Q

Legal + Ethical Issues Specific to Ecomm

A
  1. Fraud on the internet (i.e. E - Bay seller sells Video Game Console, but sends only the Box)
  2. Domain Names (Gogle = sketchy, it’s not Google)
  3. Cybersquatting (taking corp name? as an individ?, Google almost had its name lost?)
  4. Taxes + Other Fees (???)
  5. Copyright (i.e. Intellectual property rights?)

ISA - 201 (7 decks)

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