ISOM Quiz III Chpt 14
Terms
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- The Internet is a powerful channel that presents new opportunities for an organization to:
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Reach customers
Enrich products and services with information
Reduce costs - the buying and selling of goods and services over the Internet
- E Commerce
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the conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners
- E-Business
- 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
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1. Businesses
2. Consumers - Three primary internet business models
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Business to consumer (B2C)
Business to business (B2B)
Consumer to consumer (C2C) - E-business challenges include:
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Security concerns
Adhering to Taxation Rules
Consumer protection
Increasing Liability - E-business benefits include:
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Highly Accessible
Increased Customer Loyalty
Improved Information Content
Increased Convenience
Increased Global Reach
Decreased Cost