CIS Final Exam - Chapter 13 and 14

- conducting of business on the Internet including, not only buying and selling, but also serving customers and collaborating with business partners
- to:
-> touch customers
-> enrich products and services with information
-> reduce costs

The buying and selling of goods and services over the internet

Interactive business communities providing a central market where multiple buyers and sellers can engage in e-business activities

A version of a retail store where customers can shop at any hour of the day without leaving their home or office

Consists of a number of e-shops; it serves as a gateway through which a visitor can access other e-shops

(1) Brick-and-Mortar
(2) Click-and-Mortar
(3) Pure Play

Operates in a physical store without an Internet presence

A business that operates in a physical store and on the Internet (REI and Barnes and Noble)

A business that operates on the Internet without a physical store (Amazon.com and eBay.com)

(1) Electronic Auction
(2) Forward Auction
(3) Reverse Auction

Sellers and buyers solicit consecutive bids from each other and prices are determined dynamically

Sellers use as a selling channel to many buyers and highest bid wins

Buyers use to purchase a product or service, selecting the seller with the lowest bid

Disruptive = a new way of doing things that initially does not meet the needs of customers
Sustaining = produces an improved product customers are eager to buy

Implies that organizations which cannot adapt to the new demands place on them for surviving in the information age are doomed to extinction