Lec 3 ISIT224
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Questions and Answers

What percentage of U.S. B2B trade was e-commerce in 2015?

  • 43% (correct)
  • 60%
  • 50%
  • 20%
  • Social media is the fastest growing media for branding and marketing.

    True

    What does EDI stand for?

    Electronic Data Interchange

    In 2017, M-commerce accounted for ___% of all e-commerce.

    <p>37</p> Signup and view all the answers

    What are the main areas of growth in M-commerce?

    <p>Mass market retailing, sales of digital content, in-app sales</p> Signup and view all the answers

    Which of the following is a feature of social e-commerce?

    <p>Collaborative shopping</p> Signup and view all the answers

    Match the following terms with their descriptions:

    <p>B2B = Business-to-business transactions M-commerce = Mobile commerce Social network marketing = Leveraging individuals' influence Net marketplace = Single digital marketplace</p> Signup and view all the answers

    Crowdsourcing involves obtaining ideas or services from a large group of people.

    <p>True</p> Signup and view all the answers

    What is a private industrial network?

    <p>A secure website linking large firms to suppliers and partners</p> Signup and view all the answers

    What is E-business?

    <p>Use of digital technology and Internet to drive major business processes.</p> Signup and view all the answers

    What is E-commerce?

    <p>Subset of e-business involving buying and selling goods and services through the Internet.</p> Signup and view all the answers

    Which of the following are unique features of e-commerce? (Select all that apply)

    <p>Global reach</p> Signup and view all the answers

    Business processes can be a source of competitive strength if they enable the company to innovate.

    <p>True</p> Signup and view all the answers

    What are the four major enterprise applications?

    <p>Enterprise systems, supply chain management systems, customer relationship management systems, knowledge management systems.</p> Signup and view all the answers

    What is the role of the information systems function in a business?

    <p>To efficiently and effectively manage IT resources within the organization.</p> Signup and view all the answers

    What are the principal e-commerce business models? (Select all that apply)

    <p>E-tailer</p> Signup and view all the answers

    Which of the following is NOT a requirement for collaboration?

    <p>Decision-making from senior management only</p> Signup and view all the answers

    What does M-commerce stand for?

    <p>Mobile commerce.</p> Signup and view all the answers

    A company uses __________ systems to manage its relationships with suppliers.

    <p>supply chain management</p> Signup and view all the answers

    Match the following e-commerce business models with their descriptions:

    <p>Portal = Provides initial point of entry to the web with content and services. E-tailer = Sells physical products online. Service provider = Provides applications as a service. Community provider = Provides an online social platform for sharing information.</p> Signup and view all the answers

    Study Notes

    Lab Assignment 1

    • Individual quiz available in Moodle during week 4 lab.
    • Closed book format with 5 questions similar to lab exercises.
    • Time limit of 50 minutes for completion.
    • Content based on lectures and labs from weeks 1-3.
    • Attendance at the lab is mandatory for the quiz.

    E-Business and E-Commerce Overview

    • E-Business focuses on using digital technology to enhance major business processes.
    • E-Commerce is a subset involving online buying and selling.
    • E-Government utilizes technology for delivering information and services to citizens.

    What are Business Processes?

    • Defined as logically related activities that dictate how tasks are carried out.
    • Involves the flow of materials, information, and knowledge.
    • Business performance heavily relies on well-designed and coordinated processes.

    Types of Business Processes

    • Functional processes in manufacturing, sales, finance, and human resources.
    • Example: Order fulfillment is cross-functional and requires coordination between different departments.

    How Information Systems Improve Business Processes

    • Increase efficiency by automating manual steps.
    • Enable new processes and support new business models.
    • Streamline decision-making through the elimination of delays.

    Management Information Systems (MIS)

    • Serve middle management, providing performance reports from transaction processing systems (TPS).
    • Facilitate routine decision-making but typically lack analytical capabilities.

    Decision Support Systems (DSS)

    • Assist middle management in nonroutine decision-making.
    • Can utilize external and internal data for improved insights.

    Executive Support Systems (ESS)

    • Aid senior management with nonroutine decisions requiring judgment and evaluation.
    • Incorporate summarised internal and external data into digital dashboards for real-time insight.

    Enterprise Applications

    • Link various departments and streamline business processes across the organization.
    • Include Enterprise Systems, Supply Chain Management, Customer Relationship Management, and Knowledge Management Systems.

    Collaboration and Social Business

    • Collaboration involves joint efforts across organizations to achieve goals.
    • Social business utilizes social networking platforms to enhance engagement with employees and customers.
    • Emphasizes information transparency and the generation of user-created content.

    Benefits of Collaboration

    • Enhances productivity, quality, innovation, customer service, and financial performance.
    • Foster a collaborative culture within organizations to value teamwork and lower-level participation.

    Tools for Collaboration

    • Include email, instant messaging, wikis, and platforms like Microsoft SharePoint and cloud services.

    The Information Systems Department

    • Usually led by a Chief Information Officer (CIO).
    • Comprises various roles including programmers, systems analysts, and end users.

    Unique Features of E-Commerce

    • Ubiquity, global reach, universal standards, richness, interactivity, and personalization/customization.
    • Digital markets enable transactions that reduce information asymmetry and associated costs.

    Types of E-Commerce

    • Includes Business-to-Consumer (B2C), Business-to-Business (B2B), and Consumer-to-Consumer (C2C) models.

    E-Commerce Business Models

    • Portals serve as gateways to the web; e-tailers sell physical goods.
    • Content providers offer online digital content; transaction brokers process transactions.
    • Service providers deliver applications; community providers create social platforms.

    E-Commerce Revenue Models

    • Advertising, sales, subscription, free/freemium, transaction fees, and affiliate marketing are the primary models.
    • Each model varies in strategy and pricing, impacting revenue generation.

    Transformation of Marketing by E-Commerce

    • Internet enables targeted marketing, native advertising, behavioral targeting, and personalized user experiences.

    Business-to-Business (B2B) E-Commerce

    • B2B trade was valued at $14.6 trillion in 2015, with $6.2 trillion attributed to e-commerce.
    • Utilizes technologies like Electronic Data Interchange (EDI) and private industrial networks to automate procurement.

    Private Industrial Networks and Net Marketplaces

    • Private industrial networks link large firms to suppliers; net marketplaces provide singular digital spaces for buyers and sellers.

    The Role of Information Systems

    • Critical for integrating and managing information across business functions and enhancing overall organizational performance.### Role of M-commerce in Business
    • M-commerce accounted for 37% of all e-commerce in 2017, marking it as the fastest-growing segment within online transactions.
    • Certain areas of m-commerce are experiencing growth rates exceeding 50%.
    • Key sectors driving m-commerce growth include:
      • Mass market retailing (prominent players: Amazon, eBay)
      • Sales of digital content (music, TV shows, etc.)
      • In-app purchases from mobile devices

    Location-Based Services and Applications

    • Approximately 74% of smartphone users utilize location-based services.
    • Services rely on GPS technology:
      • Geosocial services enable users to see the locations of friends.
      • Geoadvertising provides information about nearby shops and promotions.
      • Geoinformation services deliver localized information such as real estate prices for properties users are passing.

    Other Mobile Commerce Services

    • Financial management apps are frequently used for banking and credit card services.
    • The mobile advertising market is dominated by major players like Google and Facebook.
      • Advertisements are integrated into games, videos, and mobile applications.
    • 55% of online retailers have developed m-commerce websites to reach customers.

    Issues in Building an E-commerce Presence

    • Essential management challenges include:
      • Formulating a clear understanding of business objectives.
      • Selecting appropriate technology to meet those objectives.
    • Creating an e-commerce presence map is crucial, encompassing:
      • Websites
      • E-mail communications
      • Social media engagement
      • Offline media strategies
    • Establishing a timeline with milestones helps break down the project into manageable phases.

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    Description

    Prepare for the closed book E-Business Lab Assignment 1, covering content from weeks 1-3. The quiz consists of 5 questions similar to lab exercises, and you have 50 minutes to complete it. Make sure to study the lecture and lab materials carefully to succeed.

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