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x201 Lecture
N/A
205
Business
Undergraduate 2
10/20/2008

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Term
internet
Definition
a vast collection of networks of computers that are interconnected both physically and through their ability to encode and decode specialized communication protocols called Internet Protocol (IP) and the Transmission Control Protocol (TCP)
Term
protocol
Definition
imply a specification of how computers exchange information
Term
IP
Definition
describes how imformation to be transmitted should be broken down into small packets
Term
internet infrastructure
Definition
5 major components - backbone, digital switch, proint of presence, computer servers, users' connecter computers
Term
backbone
Definition
a collection of high-speed telecommunications line that are connected by high-speed computers: this speed is called bandwidth and it refers to the capacity or speed of data transfer. the amount of information are digital 1's or 0's called bits
Term
digital switch
Definition
connects each backbone line to another and the ones that decide which direction to pass traffic are called routers
Term
Point of Presence
Definition
POP; simply a point of access to the network and consists of a switch (computer) that knows how to route traffic to the end users connected directly to it
Term
firewall
Definition
a combination of specialize hardware and software that provides protection from users and request outside a LAN
Term
Local area network
Definition
consists of various types of hardware devices and other resources that organizations share
Term
world wide web
Definition
the collection of computers on the internet that support a certain hypertext function
Term
hypertext
Definition
is different from normal text in that it does not follow a linear parth from top to bottom; instead, one can follow items of interest in a nonlinear fashion by selecting words or pictures and immediately gaining more information on the items selected
Term
first use of internet
Definition
in the late 60's and early 70's as a result of the threat of nuclear attacks of the Cold War
Term
ARPAnet
Definition
when the two computers were connected they called it the ARPAnet
Term
early functions of the internet
Definition
email; descussion lists/newsgroups - send messages out to subscribers; file transfer protocol (ftp) - transfer data much faster than before; telnet - or remote login, made it possble to perform functions on the remote computer as if the user were connected to the host on-site
Term
Tim Berners-Lee
Definition
a researcher from CERN, developed the Hypertext Markup Language (HTML) in the 80's
Term
HTML
Definition
was used to create links to different computers but also display graphics associated with some files
Term
internet value network
Definition
three main compononents: users, communication services, suppliers
Term
users (IVN section)
Definition
companies that use the internet intensively in the core of their business. further divided up into: ecommerce, content aggregators, market makers, broker/agents, service providers
Term
ecommerce
Definition
those companies that sell goods over the internet
Term
content aggregators
Definition
those that gather content from multiple sources and display that content on their sites
Term
market makers
Definition
act as intermediaries and run electronic markets
Term
broker/agents
Definition
act as intermediaries by facilitating transactions for a particular party
Term
service providers
Definition
furnish all other internet-based services
Term
communication services (IVN section)
Definition
subdivided in to backbone service providers, internet service providers, online service providers, last mile providers
Term
backbone service providers
Definition
those companies that maintain their own backbone lines
Term
internet service providers
Definition
deliver access to consumers and small to medium sized organizations
Term
internet service providers
Definition
deliver access to consumers and small to medium sized organizations
Term
backbone service providers
Definition
those companies that maintain their own backbone lines
Term
online service providers
Definition
deliver access to consumers and small organizations but also provide content to subscribers
Term
last mile providers
Definition
develop, maintain and provide the physical connections (telephone, cable, or wireless connection) to consumers and small to medium sized organizations
Term
suppliers (IVN section)
Definition
devided into three segments: content creators, software suppliers, hardware suppliers
Term
content creators
Definition
the developers and owners of intellectual capital. they produce such works as music,games, graphics, video, and text
Term
software suppliers
Definition
provide software products, such as word processing or spreadsheet applications, operating systems, printer drivers, databases, electronic commerce software, and so on
Term
hardware suppliers
Definition
three interrelated areas: communications equipment manufacturers - the producers of the various kinds of routers and other digital switches; computer equipment manufacturers - contain both client and server hardware, that is end user computers and server devices; hardware component manufacturers - sell computeer chips and peripherals such as disk drives to the computer hardware companies and the communications equipment companies
Term
10 major properties of the internet
Definition
mediating technology, universality, network externalities, distribution channel, time moderator, information asymmetry shrinker, infinite virtual capacity, low cost standard, creative destroyer, transaction-cost reducer
Term
mediating technology
Definition
interconnects parties that are interdependent or want to be; can be business to business, business to consumer, consumer to consumer, or consumer to business
Term
universality
Definition
refers to the internet's ability to both enlarge and shrink the world
Term
network externalities
Definition
a technology or product exhibits this when it becomes more valuable to users as more people take advantage of it (metcalfe's law)
Term
metcalfe's law
Definition
the value of a network = the number of people in the network squared
Term
distribution channel
Definition
the internet acts a distribution channel for products that are largely information (software, music, video, information, any kind of data)
Term
time moderator
Definition
the internet's ability to shrink and enlarge time
Term
internet's two effects on existing distribution channels
Definition
replacement effect and extension effect
Term
replacement effect
Definition
there is replacement if the internet is used to serve the same customers served by the old distribution channel without bring in new customers
Term
extension effect
Definition
ex. investors who ordinarily cannot afford to buy stocks from stockbrokers can use the internet to participate in the stock market where they can afford the lower online brokerage fees
Term
information asymmetry shrinker
Definition
exists when one party has info that the other doesn't. ex: customers now know the actual price of cars thanks to the internet as opposed to the dealerships having all the info
Term
infinite virtual capacity
Definition
using technologies, the internet often gives customers the feeling that they no longer have to wait on hold or in a line for a product or service
Term
low cost standard
Definition
with the internet's easy way of adaptability it is keen on having low cost
Term
creative destroyer
Definition
internet as ushered in a wave of "creative destruction" in many industries (ex. newspapers)
Term
transaction-cost reducer
Definition
the internet reduces transaction costs such as the costs of searching for sellers and buyers, collecting information on products, negotiation, writing, monitoring, etc..
Term
10 properties of internet have a huge impact on these 5 c's in intrafirm
Definition
coordination, commerce,community, content, and communication
Term
coordination
Definition
ensures that subtasks are performed, that information form A needed accomplish B or C does so on time and efficiently and that resources R are available for A, B, and C when needed and with little waste
Term
commerce
Definition
the marker over the internet that has potential to access cumstomers all over the world since customers everywhere ptentially have access to the internet
Term
5 types of commerce
Definition
business to business, business to consumer, consumer to consumer, consumer to business, intermediary models
Term
business to business
Definition
businesses buy and sell goods and services to and from each other
Term
B2B Hubs or exchanges
Definition
provide a central point in the value system where sellers and buyers can go to find each other
Term
vertical hubs
Definition
usually focus on an industry or marker and provide content that is specific to the industry's value system of sellers, buyers, and complementors
Term
functional hubs
Definition
provide the same function for different industries, allowing them to build function-specific capabilities
Term
business to consumer
Definition
businesses sell to consumers (Amazon)
Term
consumer to consumer
Definition
consumers sell to each other (EBAY)
Term
consumer to business
Definition
consumers state their prices and firms either take it or leave it (Priceline)
Term
intermediary models
Definition
play a role in commerce, different models are usually used in pricing the goods that are exchanged in transactions
Term
community
Definition
groupls with like interests can congregate online through chat rooms or message boards
Term
content
Definition
the information, entertainment and other products that are delivered over the internet
Term
communication
Definition
the heart of the 5 c's, people use email, web phones or real-time video to exchange messages
Term
explicit knowledge
Definition
knowledge is explicit if it is codified, spelled out in writing and verbalized or coded in drawings, computer programs or other products
Term
tactic knowledge
Definition
is often embedded in the routines of organizations and the actions of an individual, and therefore is very difficult to copy
Term
decision making
Definition
almost impossible without the aid of information systems
Term
model
Definition
a simplified representation or abstraction of reality, models can calculate risks, understand uncertainty, change variables, and manipulate time
Term
transaction processing systems (TPS)
Definition
the basic business system that serves the operational level (analysts) in an organization
Term
online transaction processing (OLTP)
Definition
the capturing of transaction and event information using technology to: process the information according to defined business rules; store the information; update existing information to reflect the new information
Term
online analytical processing (OLAP)
Definition
the manipulation of information to create business intelligence in support of strategic decision making
Term
Decision support system (DSS)
Definition
models information to suuport managers and business professionals during the decision-making process
Term
three quantitative models used by DSS's
Definition
sensitivity analysis, what-if analysis, and goal-seeking analysis
Term
sensitivity analysis
Definition
is the study of the impact that changes in one or more parts of the model have on other parts of the model
Term
what-if analysis
Definition
checks the impact of change in an assumption on the proposed solution
Term
goal-seeking analysis
Definition
find the inputs necessary to achieve a goal such as a desired level of output
Term
executive information systems (EIS)
Definition
a specialized DSS that supports senior-level executives within the organization; differs from a DSS because an EIS typically contains data from external sources as well as data from internal sources
Term
3 capabilities offered by EIS
Definition
consolidation, drill-down, slice and dice
Term
consolidation
Definition
involves the aggregation of information and feature simple roll-ups to complex groupings of interrelated information
Term
drill-down
Definition
enables users to get deatils, and details of deatils of information
Term
slice-and-dice
Definition
the ability to look at information from different perspectives
Term
digital dashboards
Definition
integrate information from multiple components and tailor the information to individual preferences, they commonly use indicators to help executives quickly identify the status of key information
Term
3 categories of digital dashboard measures of business
Definition
market pulse - examples include daily sales numbers, market share, and subscriber turnover; customer service - examples include problems resolved on the first call, call center wait times, and on time repair calls; cost driver - examples include number of repair trucks in the field, repair jobs completed each day, and call center productivity
Term
artificial intelligence
Definition
simulates human intelligence such as the ability to reason and learn
Term
four most familiar categories of AI
Definition
expert systems, neural network or artificial neural network, genetic algorithm, intelligent agent
Term
expert systems
Definition
computerized advisory programs that imitate the reasoning of experts in solving difficult problems
Term
neural network
Definition
category of AI that attempts to emulate the way the human brain works,
Term
genetic algorithm
Definition
an artificial intelligence system that mimics the evolutions process to generate increasingly better solutions to a problem; finds the combination of inputs to yield the best outputs
Term
intelligent agent
Definition
special purpose knowledge based information system that accomplishes specific tasks on behalf of its users (ex. shopping bot)
Term
data mining
Definition
these systems sift instantly through the information to uncover patterns and relationships that would elude an army of human researchers. common forms include cluster analysis, association detection, and statistical analysis
Term
cluster analysis
Definition
a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible
Term
association detection
Definition
reveals the degree to which variables are related and the nature and frequency of these relationships in the information
Term
market basket analysis
Definition
most common association detection; analyzes such items as web sites and checkout scanner information to detect customers buying behavior
Term
statistical analysis
Definition
performs such functions as information correlations, distributions, calculations and variance analysis
Term
digital darwinism
Definition
implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction
Term
disruptive technology
Definition
a new way of doing things that initially does not meet the needs of existing customers; opens up new markets and destroys old ones
Term
sustaining technology
Definition
produces an improved product customers are eager to buy, such as a faster car or larger hard drive
Term
protocols
Definition
the standards that specify the format of data as well as the rules to be followed during transmission
Term
Marc Anderssen
Definition
developed a new computer program called the NCSA Mosaic, and gave it away. It was a browser that made it easier to access websites
Term
digital divide
Definition
when those with access to technology have great advantages over those without access to technology
Term
internet's impact on information
Definition
easy to compile, increased richness, increased reach, improved content
Term
Web 2.0
Definition
a set of economic, social and technology trends that collectively for the basis for the next generation of the internet ex. google, napster, blogging
Term
Web 3.0
Definition
term to describe the evolution of we usage and interaction includes turning web into database, using artificial intelligence technologies of semantic web
Term
semantic web
Definition
an evolving extension of the WWW in which web content can be expressed not only in natural language but all can be read by software agents
Term
service-oriented architecture
Definition
a collection of services that communicate with each other
Term
e-commerce
Definition
the buying and selling of goods and services over the internet
Term
e-business
Definition
conducting business over the internet
Term
e-business models
Definition
an approach to conducting electronic business on the internet
Term
e-market
Definition
interactive business communities providing a central market place where multiple buyers and sellers can engage in e-business activities
Term
e-shop,e-store,e-tailer
Definition
a version of a reatil store where customers can shop at any hour of the day without leaving their home
Term
e-mall
Definition
consists of a number of e-shops, it serves as a gateway through which a visitor can access other e-shops
Term
brick-and-mortar
Definition
operates in a physical store without internet
Term
pure-play
Definition
operates on internet with no physical store ex. expedia
Term
click-and-mortar
Definition
has a physical store and internet presence
Term
electronic auction
Definition
sellers and buyers solicit consecutive bids from each other
Term
forward auction
Definition
an auction that sellers use to find many buyers... like ebay
Term
reverse auction
Definition
an auction that buyers use to purchase products or services and pick lowest seller... autotrader
Term
web mashups
Definition
a website or web application that uses content from more than one source to create a completely different new service
Term
application programming interface (API)
Definition
a set of routines, protocols, and tools for building software applications
Term
six e-business benefits
Definition
highly accessible, icreased customer loyalty, improved information content, increased convenience, increased global reach, decreased cost
Term
four common tools for accessing internet information
Definition
intranet, extranet, portal, kiosk
Term
intranet
Definition
an internalized portion of the internet protected from outside access; companies give access to employees
Term
extranet
Definition
an intranet that is available to stategic allies like customers, suppliers, and partners
Term
portal
Definition
a website that offers a broad array of resources and services, such as email, discussion groups, search engines
Term
kiosk
Definition
publicly accessible computer system that has been set up to allow interactive information browsing
Term
online service provider
Definition
offers an extensive array of unique services such as its own version of web browser
Term
application service provider
Definition
a company that offers an organization access over the internet to systems and related services that would otherwise have to be located in personal or organizational computers
Term
service level agreements
Definition
define the specific responsibilities of the service provider and the customer expectations
Term
5 primary business areas taking advantage of e-business
Definition
marketing/sales, financial services, procurement, customer service, intermediaries
Term
procurement
Definition
maintenance, repairs, operations
Term
intermediaries
Definition
Term
content providers
Definition
companies that use internet to distribute copyrighted content including news, music, games, books
Term
online brokers
Definition
act as intermediaries between buyers and sellers. usually work for commission or fee
Term
market makers
Definition
give three services to market participants: place to trade; rules to govern trading; an infrastructure to support trading
Term
interactivity
Definition
measures the visitor interactions with the target ad ex. timespent, pages viewed, repeat visits
Term
click- stream data
Definition
observes exact pattern of consumers navigation through a sit
Term
e-government
Definition
involves the use of strategies and technologies to transform governements by improving delivery of services and interaction in all branches of government
Term
mobile commerce
Definition
the ability purchase goods and services through a wireless internet-enabled device
Term
customer relationship management
Definition
a business philosophy based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitve advantage in the future
Term
enterprise miner
Definition
software program that sifts through information to reveal trends, explain outcomes, and predict results so that businesses can increase response rates and quickly identify profitable consumers
Term
recency
Definition
how recently a customer purchased items
Term
frequency
Definition
how frequently a customer purchases items
Term
monetary value
Definition
how much a customer spends on each purchase
Term
reporting
Definition
helps organizations identify their customers across other applications
Term
analyzing
Definition
helps organizations segment customers into categories
Term
predicting
Definition
helps organizations made predictions regarding behavior
Term
operational customer relationship management
Definition
supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with customers
Term
analytical customer relationship management
Definition
supports back-office operations and strategic analysis and includes all systems that do not directly dea with customers. Designed to dig deep into historical consumer information and expose patterns of behavior on which a company can capitalize
Term
personalization
Definition
occurs when a web site knows enough about a customer that it can fashion offers that are more likely to appeal to that person
Term
CRM implementation strategies
Definition
clearly communicate the CRM strategy, define information needs and flows, build an integrated view of the customer, implement in iterations, scalability for organizations growth
Term
list generator
Definition
comples customer information from a variety of sources and segment the information into different marketing campaigns
Term
campaign management systems
Definition
guide users through marketing campaigns by performing such tasks as campaign definition, planning, scheduling, segmentation, and success analysis
Term
cross-selling
Definition
selling additional prodcuts or services to a customer (fries with that?)
Term
up-selling
Definition
increasing the value of a sale (supersize?)
Term
sales force automation (SFA)
Definition
a system that automatically tracks all the steps in the sales process with a focus on increasing customer satisfaction, building customer relationships, and improving product sales
Term
sales management CRM systems
Definition
automate each phase of the sales process, helping indiviual sales reps coordinate and organize all their accounts
Term
contact management CRM systems
Definition
maintains customer contact information and identifies prospective customers for future sales
Term
opportunity management CRM systems
Definition
target sales opportunities by finding new customers or companies for future sales. Determine potential customers and competitors and define selling efforts like budgets and schedules. Advanced opportunity management can even calculate probability of a sale
Term
contact center
Definition
where customer service representatives answer customer inquiries and respond to problems through a number of different costumer touchpoints
Term
web-based self-service systems
Definition
allow customers to use the web to find answers to their questions
Term
call scripting systems
Definition
access organizational databases that track similar issues or questions and automatically generate the details for the customer service rep who can relay them to the customer
Term
supplier relationship management
Definition
focuses on keeping suppliers satified by evaluating and categorizing suppliers for different projects
Term
partner relationship management
Definition
focuses on keeping vendors satisfied by managing partner and reseller relationships that provide customers with the optimal sales channel
Term
employee relationship management
Definition
assists employees in dealing with customers
Term
supply chain
Definition
consists of all parties involved, directly or indirectly, in the procurement of a product or raw material
Term
supply chain management
Definition
involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
Term
supply chain 3 main components
Definition
material flow from their suppliers to their upstream suppliers; transformation of materials into sermi-finished and finished products; distribution of products to customers and their downstream customers
Term
supply chain visibility
Definition
the ability to view all areas up and down the supply chain
Term
bullwhip effect
Definition
occurs when distorted product demand information passes from one entity to the next throughout the supply chain
Term
demand planning software
Definition
generates consumer demand forecasts using statistical tools and forecasting techniques
Term
supply chain planning software
Definition
uses advanced mathematical algorithms to improve the flow and efficiency of supply chain while reducing inventory
Term
supply chain execution software
Definition
automates the different steps and stages of the supply chain
Term
efficiency IT metrics
Definition
measures the performance of the IT system including throughput, speed, and availability
Term
effectiveness IT metrics
Definition
measures the impact IT has on business processes and activities including customer satisfaction, conversion rates, and sell-through increases
Term
4 primary drivers of supply chain management
Definition
facilities, inventory, transportation, information
Term
an organization should consider 3 primary components when determining facilities strategy
Definition
location; capacity; operational design
Term
inventory management and control software
Definition
provides control and visibility to the status of individual items maintained in inventory
Term
cycle inventory
Definition
the average amount of inventory held to satisfy customer demands between inventory deliveries
Term
safety inventory
Definition
extra inventory held in the event demand exceeds supply
Term
global inventory management system
Definition
provides the ability to locate, track, and predict the movement of every component or material anywhere upstream or downstream in the supply chain
Term
transportation planning software
Definition
tracks and analyzes the movement of materials and products to ensure the delivery of material and finished goods at the right time, right place, and lowest cost
Term
distribution management software
Definition
coordinates the process of transporting material from a manufacturer to distribution centers to the final customer
Term
push technology
Definition
organizations send infor
Term
pull technology
Definition
organizations receive or request info
Term
facilities focus
Definition
effciency
Term
inventory focus
Definition
efficiency
Term
transportation focus
Definition
effectiveness
Term
information focus
Definition
efficiency
Term
enterprise resource planning
Definition
integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprisewide information on all business operations
Term
turner industries
Definition
enterprise resource planning system increased sales from 300 to 800 million
Term
core enterprise resource planning components
Definition
accounting and finance; production and materials management; human resources
Term
extended enterprise resource planning components
Definition
business intelligence, customer relationship management, supply chan management, e-business
Term
Common ERP benefits
Definition
integrate financial information; integrate customer order information; stadardize and speed up manufacturing process; reduce inventory; standardize human resource information
Term
benefits of business process improvement
Definition
double the gains of a project by streamlining outdated practices; enhance efficiency, promote compliance and standardization, make an organization more agile
Term
3 steps of business process improvement
Definition
measure what matters most to customers; monitor the performance of key business processes; assign accountability for process improvment
Term
customer facing processes
Definition
result in a product or service that is received by an organizations external customer
Term
business facing processes
Definition
are invisible to external but important to effective management
Term
continuous process improvement model
Definition
steps firms take to continually assess, measure and change process
Term
factors that accelerate the need to improve business processes
Definition
Advances in technology, opening of new markets, increased free trade
Term
business process reengineering
Definition
the analysis and redesign of workflow; assumes the current process does not work
Term
business process reegineering steps
Definition
define scope and objectives of reengineering project; learning process; create new processes; implement solution
Term
business process modeling (or mapping)
Definition
activity of creating a detailed flow chart or process map of a work process showing its inputs, tasks, and activities in a sequence
Term
business process model
Definition
graphic description of a process that uses boxes and arrows
Term
as-is process model
Definition
represents the current state of the operation without an changes or improvements
Term
to-be process model
Definition
shows the results of applying change or improvement to the current business model
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