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| Processing power per dollar doubles every 18 months |
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| The symbolic embodiment of all the information connected with a product or service |
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| A special type of auction that sells a bidden product to the highest bidder, but at the second highest bidders price |
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| A normal auction, where the highest bidder wins the bet and takes the product |
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| using information technology in a smart way through strategies and processes in order to make a company more effective |
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| Removal of "middlemen" in a supply chain. |
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| when there is an overinflated projection of demand through a supply chain |
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| Transactional processing systems that capture customer purchases. |
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| Just-in-Time Manufactoring |
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| Scheduling materials to arrive exactly when they are needed in the production process |
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| The period of time between an outlay of cash for parts and the collection of payments for goods made from them |
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| A set of interrelated activities that bring a product or service to market |
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| When a single firm owns several layers of its value chain |
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| the inability to copy or imitate a business model |
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| A company that focuses solely on a specific product, service, or business model |
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| "Radio Frequency Identification" allow companies to efficiently manage inventory levels, track production progress, and improve accuracy |
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| hiring another company to perform a business process that isn't a core competency |
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| hiring another company to perform a business process within the company |
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| moving a business process to another country |
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| Outsourcing production to third party firms so that the firm doesn't own the plants or employ the workers that directly make their products |
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| Business Process Outsourcing |
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| Outsourcing secondary value chain functions |
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| Any aspect of an industry that make it difficult for a new company to compete against companies already established in the field. Includes patents, network effects, start up costs, and a dominant brand |
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| The costs of switching from one product to another |
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| Product or service becomes more valuable the more people use them |
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| Gaining significant profit out of selling small volumes of rare items to many customers instead of only selling large volumes of popular items |
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| The ability for as a firm increases in size its cost become less and less |
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| The value of a telecommunications network is proportional to the square of the number of connected users of the system (n^2) |
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| The path through which products or services get to customers |
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| When a firm pre announces a forthcoming product or service and experiences a sharp drop in sales of current offerings as users wait for the new item |
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| slowing down the pace at which a company sends out products to some customcers |
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| The advantage a company gains from being the first to enter into an industry, or in a specific geographic location |
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| a tool in business strategy to invest in lots of things to see which one works. |
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| Approximately 80 percent of your revenue will come from 20 percent of your clients |
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| using IT to leverage existing organizational benefits |
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| systems that provide rewards and usage incentives in exchange for more detailed tracking of customer activity |
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| Ads for content providers produced by Google, located on the right side of the page |
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| a challenge response test used in order to ensure that the response is being generated by a human and not a computer |
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| the practice of thinking or making decisions as a group in a way that discourages creativity or individual responsibility |
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| It is difficult to out-perform the group, collective intelligence is better than one expert |
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| A graphical representation that illustrates how new technologies or applications will mature over time |
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| 5 stages of the Gartner Hype cycle |
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Definition
1. Technology Trigger
2. Peak of inflated expectation
3. Trough of disillusionment
4. Slope of enlightenment
5. Plateau of prouctivity |
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| the act of taking a job traditionally performed by an employee and outsourcing it to an undefined generally large group of people |
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| the number of actual interactions between two entities in a network compared to the number of possible ties in the network |
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| keyword-based classification systems created by user communites |
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| a classification of software that monitors trends among customers and uses this data to personalize an individual customer's experience |
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| conflict between different channels of distribution that occurs when the supplier disintermediates and cuts out the retailer and wholesalers |
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| Number of times a company goes through an entire inventory in a year. Value of products sold/value of products in inventory |
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| The one thing that is important in a company's business model |
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| the use of data to drive decisions |
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| attempts to occupy more than one position, while failing to match the benefits or a singular more efficient rival |
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| Customers enlisted to improve a product or service |
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| determining which products customers buy together |
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| Systems that help gather data in order to help decision making |
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| connect otherwise disconnected groups of people |
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| database that collects data from loyalty cards, or through the cash register |
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| a set of databases designed to support decision making in an organization |
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| a database or databases focused on addressing a specific problem |
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