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| set of planned activities designed to result in a profit in a marketplace |
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| document that describes a firm’s business model |
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| E-commerce business model |
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| business model that aims to use and leverage the unique qualities of the internet and the World Wide Web |
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| Advertising revenue model |
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| a company provides a forum for advertisements and receives fees from advertisers |
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| Subscription revenue model |
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| companies give away a certain level of product or services for free, but then charge a subscription fee for premium levels of the product or service |
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| Transaction fee revenue model |
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| a company receives a fee for enabling or executing a transaction |
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| a company derives revenue by selling goods, information, or services |
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| a company steers business to an affiliate and receives a referral fee or percentage of the revenue from any resulting sales |
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| the area of actual or potential commercial value in which a company intends to operate |
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| achieved by a firm when it can produce a superior product and/or bring the product to market at a lower price than most, or all, of its competitors |
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| exists whenever one participant in a market has more resources than other participants |
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| competitive market advantage for a firm that results from being the first into a marketplace with a serviceable product or service |
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| resources and assets not directly involved in the production of the product but required for success, such as marketing, management, financial assets, and reputation |
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| Unfair competitive advantage |
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| occurs when one firm develops an advantage based on a factor that other firms cannot purchase |
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| a market in which there are no competitive advantages or asymmetries because all firms have equal access to all the factors of production |
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| when a company uses its competitive advantage to achieve more advantage in surrounding markets |
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| the plan you put together that details exactly how you intend to enter a new market and attract new customers |
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| Organizational development |
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| plan describes how the company will organize the work that needs to be accomplished |
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| employees of the company responsible for making the business model work |
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| typically, an entrepreneur's personal funds derived from savings, credit card advances, or from family and friends |
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| typically provide a small amount of funding and also an array of services to start-up companies |
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| typically wealthy individuals or a group of individuals who invest their own money in exchange for an equity share in the stock of a business; often are the first outside investors in a start up |
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| Venture capital investors |
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| involves using the Internet to enable individuals to collectively contribute money to support a project |
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| total cost of entering a new marketplace |
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| creates an online environment where people with similar interests can transact (buy and sell goods) share interests, photos, and videos; communicate with like-minded people; and receive interest-related information |
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| distributes information content, such as digital news, music, photos, video, and artwork |
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| offers users powerful search tools as well as an integrated package of content and services all in one place |
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| site that processes transactions for consumers that are normally handled in person, by phone, or by mail |
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| builds a digital environment where buyers and sellers can meet, display products, search for products, and establish a price for products |
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| Sharing Economy(mesh economy) |
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| a company that supplies products and services directly to individual businesses |
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| creates and sells access to digital markets |
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| sells business services to other firms |
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| efficiencies that arise from increasing the size of a business |
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| an independent digital marketplace where suppliers and commercial purchasers can conduct transactions |
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| industry-owned vertical marketplaces that serve specific industries |
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| Private industrial network |
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| digital network designed to coordinate the flow of communications among firms engaged in business together |
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| refers to the nature of the players in an industry and their relative bargaining power |
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| Industry structural analysis |
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| an effort to understand and describe the nature of competition in an industry, the nature of substitute products, the barriers to entry, and the relative strength of consumers and suppliers |
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| set of activities performed in an industry or in a firm that transforms raw inputs into final products and services |
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| set of activities a firm engages in to create final products and raw inputs |
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| networked business ecosystem that coordinates the value chains of several firms |
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| set of plans for achieving superior long-term returns on the capital invested in a business firm |
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| difference between the price of a firm is able to charge for its products and the cost of producing and distributing goods |
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| refers to all the ways producers can make their products or services unique and different to distinguish them from those of competitors |
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| a situation where there are no differences among products or services, and the only basis of choosing is price |
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| Strategy of cost competition |
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| offering products and services at a lower cost than competitors |
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| competing in all markets around the globe, rather than just local, regional, or national markets |
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| Focus/market niche strategy |
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| competing within a narrow market or product segment |
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| focuses on developing strong ties with customers in order to increase switching costs |
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| technologies that underpin a business model disruption |
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| business model disruption that is driven by changes in information technology |
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| technologies that enable the incremental involvement of products and services |
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| the entrepreneurs and their business firms that lead a business model disruption |
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