CHAPTER 4 INTERNET TECHNOLOGY AND THE DIGITAL FIRM. Reading notes for chapter 4 in the textbook.
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INTERNET TECHNOLOGY AND THE DIGITAL FIRM.
Chapter 4 is on the digital firm, electronic commerce and business. We have to read entire chapter carefully and digest the material thoroughly. Internet is a widely used technology today and there is no doubt that Internet and digital organization will shape every aspect of our lives, personal as well as professional in the years ahead.
Section 4.1 elaborates on the benefits of Internet technology to the organizations of any kind. Read section 4.1 carefully and pay attention to Internet business models and concepts like information asymmetry, richness, reach, dynamic pricing and portals. Table 4.1 is a concise summary of Internet business models. Customer-centered retailing, business-to-business electronic commerce, and electronic payment systems also deserve a close and critical look. Marshall Industries is an interesting example of a virtual distribution network and gives us clues about future business models. Examine figure 4.7 carefully.
Section 4.3 explores how intranets support electronic business and services like group collaboration, coordination and supply chain management that are vital for any organization. Group collaboration at Internet has new dynamics and implications in product design and delivery as well as organization’s functional areas and supply chain management. Finally management challenges and opportunities deserve careful scrutiny.
An abstraction of what and how the enterprise delivers a product or service,showing how the enterprise creates wealth.
Situation in which the relative bargaining power of two parties in a transaction is determined by one party possessing more information essential to the transaction than the other party.
Measurement of the depth and detail of information that a business can supply to the customer as well as information the business collects about the customer.
Measurement of how many people a business can connect with and how many products it can offer those people.
Consumers submit a bid to multiple
sellers to buy goods or services at a
buyer specified price.
Groups of people who want to
purchase a particular product sign up
and then seek a volume discount from
Pricing of items based on real time interactions between buyers and sellers that determine what an item is worth at any particular moment.
Web site or other service that provides an initial point of entry to the web or to internal company data.
Graphic display on a web page used for advertising. The banner is linked to the advertiser’s web site so that a person clicking on it will be transported to the advertiser’s web site.
Business aggregating content or applications from multiple sources,packaging them for distribution,and reselling them to third-party web sites.
Business model based solely on the internet.
Business model where the web site is an extension of a traditional bricks-and-mortar businesses.
Electronic retailing of products and services directly to individual consumers.
Electronic sales of goods and services among businesses.
Consumers selling goods and services electronically to other consumers.
Mobile commerce (m-commerce)
The use of wireless devices, such as cell phones or handheld digital information appliances, to conduct e-commerce transactions over the internet.
The elimination of organizations or business process layers responsible
for certain intermediary steps in a value chain.
The shifting of the intermediary role in a value chain to a new source.
Based on your portfolio and recent market trends, here are some
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Type of on-line marketplace where multiple buyers can purchase from multiple sellers using a bid-ask system.
Fill out bills
Software that stores credit card, electronic cash, owner identification,and
address information and provides these data automatically during
electronic commerce purchase transactions.
payment for a very small sum of money, often $1.00 or less.
Electronic cash (e-cash)
Currency represented in electronic form that can be exchanged with
another e-cash user or retailer over the internet.
A credit card-size plastic card that stores digital information and that
can be used for electronic payments in place of cash.
Person-to-person payment system
Electronic payment system for people who want to send money to
vendors or individuals who are not set up to accept credit card payments.
Functional applications of Intranets