Glossary of ISOM Quiz III Chpt 14

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Created by ddeetz

The Internet is a powerful channel that presents new opportunities for an organization to:
Reach customers
Enrich products and services with information
Reduce costs

the buying and selling of goods and services over the Internet
E Commerce
the conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners

an approach to conducting electronic business by which a company can become a profitable business on the Internet
E-Business Model
Exchanges occur between two major entities
1. Businesses
2. Consumers
Three primary internet business models
Business to consumer (B2C)
Business to business (B2B)
Consumer to consumer (C2C)

E-business challenges include:
Security concerns

Adhering to Taxation Rules

Consumer protection

Increasing Liability

E-business benefits include:
Highly Accessible

Increased Customer Loyalty

Improved Information Content

Increased Convenience

Increased Global Reach

Decreased Cost

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