Mid2 BUSI 100

Term Definition
B2C Amazon
B2B Go2Paper
C2C eBay
C2B Amazon
M-commerce Mobile devices such as tablet and smartphone can be used to conduct commercial transactions
Social commerce Facebook, Instagram
Local commerce Groupon
Business Model A set of planned activities (aka business processes) designed to result in a profit in a marketplace
Business plan A document that describes a firm's business model
Ecommerce Business model aims to use and leverage the unique qualities of the Internet, the Web and the mobile platform
Value proposition Defines how a company's product or services fulfills the needs of customers. Personalization and customization of product offerings, low cost, fast product delivery.
Revenue model Describes how the firm will earn revenue, generate profits, and produce a superior return on invested capital. Generate profit, produce returns on invested capital that exceed alternative investments.
Major revenue models Advertising, subscription, transaction fee
Market Opportunity Refers to the company's intended marketplace and the overall potential financial opportunities available to the firm in that marketspace.
Competitive environment Refers to other companies selling similar products and operating in the same marketspace. The presence of substitute products and potential new entrants to the market. Power of customers and suppliers. Direct and indirect competitors
Competitive advantage Can produce a superior product and/or bring the product to market at a lower price than most, or all, of their competitors. Firms also compete on scope (global, national, regional), sometimes one participant in a market has more resources than others.
Competitive advantage leads to Some firms having an edge over others, permitting them to come to market with better products, faster than others and sometimes at lower costs.
Market Strategy The plan that you put together than details exactly how you intend to enter a new market and attract new customers.
Organizational development Companies that hope to grow need to have a plan for organizational development that describes how the company will organize the work that needs to be accomplished. Work is divided in diff. depts, tons within these areas are defined, and recruiting begins
Management team The single most important element of a business model. Strong team: instant credibility to outside investors, immediate market-specific knowledge, and experience in implementing business plans
B2C: Business seeks to reach individual consumers, is the most well-known and familiar type of commerce.
Etailers Virtual merchant, Bricks-and-clicks, Catalog merchant, and Manufacturer direct.
Virtual merchant Operates in the virtual world, without any ties to physical locations.
Bricks-and-clicks Subsidiaries or divisions of existing physical stores and carry the same products
Catalog merchant Online version of direct mail catalogs.
Manufacturer direct Manufacturers selling directly to customers.
Community provider Create an online environment where people with similar interests can: transact; share interests, photos and videos; communicate w/ like minded people; receive interest-related info; and even play fantasies by adopting online personalities called avatars.
Content provider Distribute info content (video, music, etc.). Rev. model: ads, sub. fees, sale of digital goods. Key: owning the content. Some don't own content, buy syndicate (aggregate) and then distribute content produced by others
Portal Powerful search tools and an integrated package of content and services all in one place. Horizontal v. vertical portals, gateways to the internet. Rev. model: ads, collecting referral fees for steering cust. to other sites, charging for premium services.
Transaction broker Company that process transactions for customers normally handled in person, by phone or mail. Make $ each time a transaction occurs (financial services, travel services, job placement). Value proposition-saving money and time
Market creator Build a digital environment in which buyers and sellers meet, display, and search for products and services, and establish prices. Rev. model: charging a percentage of transactions
Service provider Offer services online (photo sharing, video sharing, google, online medical bill management, travel rec.). Rev. model: fee or monthly subscribers, advertising, collecting personal info, freemium
Information ethics Govern the ethical and moral issues arising from the development and use of info technology, and the creation, collection, duplication, distribution, and processing of info itself.
Ethics The principles and standards that guide our behavior toward other people
Business issues related to info ethics Intellectual property-copyright, trademarking, and patents. Pirated software, counterfeit software, digital rights management
Copyright The legal protection afforded an expression of an idea, such as a song, book or video game
Patent Exclusive right to make, use and sell an invention and is granted by a government to the inventor
Pirated software Unauthorized use, duplication, distribution, or sale of copyrighted software
Counterfeit software Software that is manufactured to look like the real thing and sold as such
Digital rights management A technological solution that allows publishers to control their digital media to discourage, limit, or prevent illegal copying and distribution
Privacy The right to be left alone when you want to be
Confidentiality Assurance that messages and info are available only to those who are authorized to view them.
Individuals form the only ethical component in MIS Individual copy, use, distribution software; search organizational databases for sensitive and personal info; individual create and spread viruses; individual hack into computer systems to steal info; employees destroy and steal info
Developing information management policies Organizations strive to build a corporate culture based on ethical principles that employees can understand and implement
Ethical computer use policy Contains general principles to guide computer user behavior. Ensures all users are informed of the rules and, by agreeing to use the system on that basis, consent to abide by the rules
Information privacy policy The unethical use of info typically occurs "unintentionally" when it is used for new purposes contains general principles regarding info privacy
Acceptable use policy (AUP) Requires a user to agree to follow it to be provided access to corporate email, info systems, and the internet
Internet use policy Contains general principles to guide the proper use of the internet
Email privacy policy Organizations can mitigate the risks of email and instant messaging communication tools by implementing and adhering to an email privacy policy. Details the extent to which email messages may be read by others
Social media policy Outlines corporate guidelines online communication
Workplace monitoring policy Organizations can be financially responsible for their employees' actions. The dilemma is that an organization is placing itself at risk of it fails to monitor its employees, however, some people feel that monitoring employees is unethical
Information technology monitoring Tracking people's activities by such measures as numbers of keystrokes, error rate, and number of transactions processed
Employee monitoring policy Explicitly state how, when, and where the company monitors its employees
Common monitoring technologies Key logger or key trapper software, hardware key logger, cookies, adware, spyware, web log, and clickstream
Key logger or key trapper software A program that when installed on a computer, records every keystroke and mouse click
Hardware key logger A hardware device that captures keystrokes on their journey from the keyboard to the motherboard
Cookies A small file deposited on a hard drive by a website containing info about customers and their web activities. Cookies allow websites to record the comings and goings of customers, usually their knowledge or consent
Adware Software generates ads that install themselves on a computer when a person downloads some other program from the Internet
Spyware Software that comes hidden in free downloadable software and tracks online movements, mines the info stored on a computer, or uses a computer's CPU and storage for some task the user knows nothing about
Web log Consists of one line or info for every visitor to a website and is usually stored on a web server
Clickstream Records info about a customer during a web surging session such as what websites were visited, how long the visit was, what ads were viewed, and what was purchased
MIS infrastructure Includes the plans for how a firm will build, deploy, use, and share its data, processes, and MIS assets
Benefit of a solid MIS infrastructure Supporting operations, supporting change, supporting the environment
Supporting operations Where and how important info is maintained and secured. Backup and recovery plan, disaster recovery plan, and business continuity plan
Supporting change Hardware and software, and telecommunications equipment that, when contained, provides the underlying foundation to support the organization's goals
Supporting the environment Identifies ways that a company can grow in terms of computing resources while simultaneously becoming dependent on hardware and energy consumption
Backup and recovery plan Backup: exact copy of a system's info. Recovery: The ability to get a system up and running in the event of a system crash or failure
Fault tolerance A general concept that a system crashes as the backup system immediately and automatically takes over with no loss of service
Failover A specific type of fault tolerance, occurs when a redundant storage server offers an exact replica of the real-time data and if the primary server crashes the users are automatically directed to the secondary server or backup server
Failback Occurs when the primary machine recovers and resumes operations taking over from the secondary server
Disaster recovery plan A detailed process for recovering info or an IT system in the event of a catastrophic disaster (fire, flood)
Disaster recovery cost curve The cost to the organization of the unavailability of info and technology and the cost to the organization of recovering from a disaster over time. Hot site, cold site, and warm site
Business continuity plan (BCP) Plan for how an organization will recover and restore partially or completely interrupted critical function(s) within a predetermined time after a disaster or extended disruption
Emergency A sudden unexpected event requiring immediate action
Emergency preparedness Ensures a company is ready to respond to an emergency in an organized, timely, and effective manner
Supporting change: agile MIS infrastructure characteristics Accessibility, availability, maintainability, portability, reliability, and usability
Accessibility Varying levels that define what a user can access, view, or perform when operating a system. Administrator access-unrestricted access to entire system
Availability Time frames when the system is operational
Maintainability How quickly a system can transform to support environmental changes
Portability The ability of an application to operate on different devices of software platforms
Reliability Functioning correctly and providing accurate info. Another term for accuracy when discussing the correctness of systems within the context off efficiency IT metrics. Vulnerability-a system weakness that can be exploited by a threat
Scalability Can scale up, or adapt to the increased demands. Performance-measures how quickly a system performs a process or transaction. Capacity planning-determines future environmental infrastructure req. to ensure high-quality system performance
Usability Degree to which a system is easy to learn and efficient and satisfying to use. Serviceability-how quickly a third party can change a system to ensure it meets users needs and the term of any contracts
Side effects of businesses' expanded use of technology Increased electronic waste (discarded, obsolete or broken electronic devices), energy consumption (energy consumed by a computer is estimated to produce as much as 10% of the amount of CO2 as a car), carbon emissions (CO2 and CO)
Grid computing A collection of computers, often geographically dispersed, that are coordinated to solve a common problem
Cloud computing Infrastructure as a service (IAS)-offers computer hardware and networking equipment, Amazon EC2; Software as a service (SAS)-offers applications on pay-per-use basis, salesforce.com; and platform as a service (PAS)-offers all, google application engine
Virtualized computing Creates multiple "virtual" machines on a single computing devices
Four primary traits of info Info type, info timeliness, info quality, info governance
Transactional info Encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing or daily operational tasks
Analytical info Encompasses all organizational info, and its primary purpose is to support the performing of managerial analysis tasks
Characteristics of high-quality info Accurate, complete, consistent, unique, and timely
Primary sources of low-quality info Custs intentionally enter inaccurate info to protect their privacy, different entry stds and formats, operators enter abbreviated or erroneous info by accident or to save time, 3rd party and external info contains inconsistencies, inaccuracies, & errors
Data governance The overall management of the availability, usability, integrity, and security of company data
Master data management (MDM) The practice of gathering data and ensuring that the data is uniform, accurate, consistent, and complete
Metadata Describes the properties and context of user data
Database A large, integration collection of data, structured data, organized as records
Database management systems (DBMS) A software system designed to store, manage, and facilitate access to databases. Goal is to simplify the storing and accessing of data. Allows users to create, read, update, and delete data in a relational database
DBMS purpose Accept data, store data, display data, share access to the data, retrieve data, generate reports
Relational DBMS (RDBMS) Relation: columns and rows, data stored in tables
Top DBMS Enterprise-Oracle, SQL server. Desktop-access, filemaker
Primary key A set of one or more columns that uniquely identifies a record or a row in a table
Composite key Sometimes multiple columns are used to identify a record. Keys containing multiple columns are called composite (concatenated) keys
Data integrity Making sure the data in the database is correct and consistent. Ensure the quality of data in the database
Entity Relationship Diagram (ERD) is used to Translate different views of data among managers, users, and programmers to fit into a common framework; define data processing and constraint requirements to help us meet the different views; and help implement the database
Entity A collection of people, places, objects, events, concepts of interests (table)
Attribute Property or characteristic of interest of an entity (a field in a table)
Relationship Association between entities (corresponds to primary key-foreign key equivalencies in related tables)
Join A database operation that combines some or all records from two or more tables
Inner join Matches on one or a set of columns values from one table
Outer join A match that includes all the matches between two copies of one table or two tables, and all the non-matches from one copy of the single table, or one table of the two tables
Full outer join A match that includes all matches between two tables plus all non-matches whether on the left or right side of a join
Multiple joins In handling multiple joins, you should perform one join at a time, forming intermediate recordists as needed. Processing occurs in the order in which you defined the relationships ("left" to "right" by convention)

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