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acct info systems
midterm
41
Accounting
Undergraduate 4
03/08/2010

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Cards

Term
WIKINOMICS
Definition
The art and science of mass collaboration
Term
Web portals
Definition
your way of getting on the internet
e.g. google, msn
Term
principles of wikinomics
Definition
being open, peering, sharing, acting globally
Term
what is driving the new world of wikinomics
Definition
-sophisticated, low cost IT
-wireless networking
-wifi
-web services
-business value chains
-global business infrastructure
Term
Moore's law
Definition
every 18 months chip density/computing power will double while cost remains constant
Term
law of accelerating returns
Definition
whenever we reach a technology barrier, a new technology will be created to allow us to get past it
Term
examples of things causing paradigm shifts
Definition
e-commerce, 4g, b-webs, open-source initiatives, e-collaboration, cloud computing
Term
internet
Definition
the infrastructure, hardware, software
Term
web
Definition
Term
Fast connection
Definition
DE fastest state, s.korea fastest country, us 28th
Term
computing today
Definition
net gen, collaboration, social networks, digital commons
Term
what does the internet create
Definition
a global infrastructure for sharing
Term
how is web different today
Definition
interactive computing platform with social networking, open source apps and platforms, tagging
Term
tagging
Definition
turning data into information
Term
Perfect storm
Definition
1. technology
2. demographics
3. global economics
Term
demographics of the web today
Definition
Term
technology (perfect storm)
Definition
changed to make web more interactive
Term
global economics (perfect storm)
Definition
cheap, highly skilled labor and govts pursuing capital-friendly policies
Term
what are new business models based on
Definition
global sourcing (this creates endless potential for growth, innovation, diversity)
Term
What happened to business models
Definition
1. digitization
2. globalization
3. deregulation
Term
examples of how business model changed
Definition
britannica vs encarta/wikipedia, iTunes store
Term
network (technical definition)
Definition
a software program on a connected device exchanging data with another device
Term
6 transaction costs
Definition
search
information
bargaining
decision
policing
enforcement
Term
law of diminishing firms
Definition
firms should shrink until the cost of performing a transaction internally no longer exceeds the cost of performing it externally
Term
how are today's firms different
Definition
smaller
complex interconnected webs of well managed relationships including partners, customers, employees, competition
Term
b-webs
Definition
the new business entity
clusters of businesses that come together over the interet
Term
example of a b-web
Definition
apple - design and control: US, Hard drive:japan, chips:taiwan, assembly:china, distribution:US
Term
natural resources
Definition
now they are monitored by sensor networks
Term
peering
Definition
"collaborative outsourcing"
Term
example of peering and open source software
Definition
linux/apache - IBM joined them and stopped being proprietary
Term
benefits of peering
Definition
can harness external potential for innovation and value-added partnerships

keep pace with competitors

can boost demand for complimentary goods and services

reduce costs

shift the way you compete

can learn how to collaborate
Term
examples of peering
Definition
walmart rfid, shell- fuel challenge, bmw, apple, medsphere systems corp
Term
peering in acct
Definition
FAF - open meetings
Term
what conditions need to be present for peering to work
Definition
object of production is information, software apps, or culture

tasks can be chunked into pieces that can be worked on individually

costs of integrating pieces must be low

must be peer reviews, leaders, rules
Term
ideagoras
Definition
based on the premise that large diverse networks of uniquely talented people can solve problems faster and more efficiently
Term
2 categories of ideagoras
Definition
solutions in search of questions

questions in search of solutions
Term
example of solutions in search of questions
Definition
yet2.com
Term
example of questions in need of solutions
Definition
innocentive
Term
more examples of ideagoras
Definition
p&G, eli lilly(innocentive)
Term
what must businesses do to take advantage of ideagoras
Definition
change the internal culture to rethink the value of intellectual property and find the right balance

leverage information assets and involve customers, partners

make harvesting external ideas part of your strategy
Term
what must businesses do to take advantage of ideagoras
Definition
change the internal culture to rethink the value of intellectual property and find the right balance

leverage information assets and involve customers, partners

make harvesting external ideas part of your strategy
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