Podcast
Questions and Answers
Which type of organization primarily operates offline and sells products through physical agents?
Which type of organization primarily operates offline and sells products through physical agents?
What is online marketing primarily focused on?
What is online marketing primarily focused on?
Which segment of e-business directly involves the exchange of goods and services over the internet?
Which segment of e-business directly involves the exchange of goods and services over the internet?
What does online customer service typically include?
What does online customer service typically include?
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What best describes a click-and-mortar organization?
What best describes a click-and-mortar organization?
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What is the primary goal of a business?
What is the primary goal of a business?
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Which of the following is true about a sole proprietorship?
Which of the following is true about a sole proprietorship?
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What distinguishes a corporation from other business structures?
What distinguishes a corporation from other business structures?
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What best describes the concept of organizational hierarchy?
What best describes the concept of organizational hierarchy?
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Which level of management is primarily responsible for strategic decision-making?
Which level of management is primarily responsible for strategic decision-making?
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What is a characteristic of partnerships?
What is a characteristic of partnerships?
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Which of the following is NOT a common form of business structure?
Which of the following is NOT a common form of business structure?
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What is an important implication of choosing a business structure?
What is an important implication of choosing a business structure?
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What is the primary responsibility of supervisors or team leaders?
What is the primary responsibility of supervisors or team leaders?
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Which of the following best defines a business function?
Which of the following best defines a business function?
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Which characteristic is NOT typically associated with a business process?
Which characteristic is NOT typically associated with a business process?
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What is the focus of the finance business function?
What is the focus of the finance business function?
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Which of the following is an example of a business process?
Which of the following is an example of a business process?
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What is the role of frontline employees in an organization?
What is the role of frontline employees in an organization?
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How is e-business primarily defined?
How is e-business primarily defined?
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Which of the following is NOT a characteristic of a business process?
Which of the following is NOT a characteristic of a business process?
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What is an electronic market (e-marketplace)?
What is an electronic market (e-marketplace)?
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Which e-commerce model involves transactions solely among businesses?
Which e-commerce model involves transactions solely among businesses?
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What does the term e-tailing refer to?
What does the term e-tailing refer to?
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Which of the following describes the B2B2C model?
Which of the following describes the B2B2C model?
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What is intrabusiness e-commerce?
What is intrabusiness e-commerce?
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Which of the following best defines business-to-employees (B2E) e-commerce?
Which of the following best defines business-to-employees (B2E) e-commerce?
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In the C2B e-commerce model, what is the primary role of individuals?
In the C2B e-commerce model, what is the primary role of individuals?
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What characterizes an extranet?
What characterizes an extranet?
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What is the e-commerce model where consumers sell directly to other consumers called?
What is the e-commerce model where consumers sell directly to other consumers called?
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Which feature of e-commerce technology refers to the ability to provide tailored experiences to users?
Which feature of e-commerce technology refers to the ability to provide tailored experiences to users?
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What type of e-commerce model involves governmental transactions with citizens or businesses?
What type of e-commerce model involves governmental transactions with citizens or businesses?
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Which of the following is NOT one of the eight unique features of e-commerce technology?
Which of the following is NOT one of the eight unique features of e-commerce technology?
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In e-commerce, what does the term 'information richness' primarily refer to?
In e-commerce, what does the term 'information richness' primarily refer to?
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Which e-commerce model emphasizes online collaboration among individuals or groups?
Which e-commerce model emphasizes online collaboration among individuals or groups?
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What is a primary characteristic of the 'ubiquity' feature in e-commerce?
What is a primary characteristic of the 'ubiquity' feature in e-commerce?
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Which of the following revenue models is NOT typically associated with e-commerce business models?
Which of the following revenue models is NOT typically associated with e-commerce business models?
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Study Notes
E-business Tech - Lecture 1
- A business is an organization or enterprise engaged in commercial, industrial, or professional activities, aiming to profit by providing goods or services to customers.
- Businesses can vary in form, from sole proprietorships to large corporations, and operate in diverse industries like retail, manufacturing, technology, and healthcare.
- Key characteristics of businesses include profit-making as the primary goal, structured organization (often with employees), exchange of goods/services, and legal entity status with specific rights/responsibilities.
- Common business structures include Sole Proprietorship (simplest form, owner is the business, unlimited liability), Partnership (two or more owners sharing responsibility), and Corporation (separate legal entity from owners, offering limited liability).
Organizational Hierarchy
- Organizational hierarchy defines authority/responsibility levels within an organization, usually depicted as a pyramid structure.
- Common levels include Top management (CEO, President, overseeing organization direction), Middle management (managing specific departments, implementing top management strategies), Supervisors/team leaders (leading/coordinating teams/departments), and Frontline employees (directly interacting with customers).
Business Functions
- Business functions are fundamental activities/processes for achieving business goals, encompassing diverse aspects of operations.
- Key functions include Marketing (identifying customer needs, promoting products/services, building awareness), Sales (generating revenue by selling products/services), Finance (managing resources, accounting, budgeting), Human Resources (managing employees, recruitment, training), Operations (overseeing daily operations, production, logistics), and Research and Development (developing new products/services).
Business Processes
- Business processes are a series of interconnected tasks/activities for achieving specific business objectives. They help companies achieve goals effectively.
- Key characteristics of these processes include goal-orientation, structured processes with defined steps/activities, and the ability to be measured for evaluation and optimization.
- Examples of business processes include Order fulfillment (receiving, processing, fulfilling orders), Product development (creating new products/services), and Customer service (handling customer inquiries/complaints).
The Organizational System
- The organizational system is a framework encompassing inputs, processes, and outputs with feedback loops and control mechanisms.
- Inputs include finance, human resources, data, and physical resources; processes include new product development, manufacturing, distribution, and sales/marketing; and outputs include products/services, profits, and data.
- The system shows the flow of information and resources, how processes are managed, and goals are achieved.
Different Forms of Information
- Information can be categorized based on its structure.
- Structured information is well-organized (e.g., monthly sales reports), while unstructured information is less organized (e.g., water-cooler chats).
- Formal information typically encompasses predefined formats and standards (e.g., market research reports), contrasting informal information that lacks these standards (e.g., verbal reports).
Data-Information-Knowledge Transformation
- The transformation process involves changes from business events to knowledge through structured stages.
- Business events are collected, converted to data, then to information, followed by a process that culminates in the application of knowledge.
E-business
- E-business utilizes electronic/digital technology for business activities, integrating online sales, marketing, supply chain management, and customer service.
- Key aspects of e-business include online sales methods, e-commerce (buying/selling online), online marketing (digital channels), online customer service, and supply chain management.
Electronic Commerce (EC)
- EC encompasses processes where buyers and sellers exchange goods, services, or information via computers.
- EC organizations can be brick-and-mortar, virtual, or click-and-mortar.
- Key EC organizational classifications include brick-and-mortar (traditional offline businesses), virtual (pure-play online businesses), and click-and-mortar combining online and offline activities.
Electronic Markets & Networks
- Electronic markets (e-marketplaces) are online spaces where buyers/sellers exchange goods/services.
- Intranets are internal corporate/government networks leveraging internet tools.
- Extranets link multiple intranets through the internet.
EC Classifications by Transaction Type
- The EC field is categorized based on transactional relationships between participants:
- Business-to-Business (B2B), where businesses interact.
- Business-to-Consumer (B2C), where businesses sell to individuals.
- Consumer-to-Consumer (C2C), where consumers sell to each other.
- Business-to-Employee (B2E), where companies provide services/information internally.
- Intrabusiness e-commerce (activities involving internal organizations)
- Other types like Collaborative Commerce (C-commerce) and E-Government classifications.
Eight Unique Features of E-commerce Technology
- Ubiquity (existing everywhere), global reach, information richness, interactivity, information density, personalization/customization, social technology.
Electronic Commerce Business Models
- A business model describes how a company creates, delivers, and captures value to sustain itself.
Key Ingredients of a Business Model
- Components include value proposition, revenue model, market opportunity, competitive environment, competitive advantage, market strategy, organizational development, and management team.
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Description
This quiz covers the fundamentals of e-business, including the definition of a business, different business structures, and key characteristics that define commercial enterprises. It also touches on the concept of organizational hierarchy and its importance in business operations.
