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Executive support systems

(ESS) Helps senior management make decisions requiring judgement, evaluation, and insight. Often delivered through a portal.

Decision support systems

(DSS) Supports nonroutine decision making for middle management

Management information systems

(MIS) A specific catagory of information systems serving middle management- provides reports on the organization's current performace

Transaction processing systems

(TPS) Keeps track of elementary activities and transactions for operational managers, Performs and record the daily routine transactions necessary to condut business

Organization

A stable, formal social structure that takes resources from the environment and processes them to produce outputs

Routines

Precise rules, procedures, and practices that have been developed to deal with situations

Switching costs

The cost of switching from one product to a competing product

Business-to-business electronic commerce

(B2B) Sales of goods and services among businesses

Business-to-consumer electronic commerce

(B2C) Sales of goods and services to individual consumers

Clicks-and-mortar

Model that involves an existing bricks-and-mortar business and extension websites

Cost transparency

The ability of consumers to discover the actual costs merchants pay for products

Customization

Changing a product based on a user's preferences and prior behavior

Disintermediation

Removal of organizations or business process layers responsible fro intermediary steps in a value chain

Dynamic pricing

The price of a product varies depending on the demand characteristics of the consumer or the supply situation of the sellerr

Electronic data interchange

(EDI) Enabales computer to computer exchange between two organizations of standard transactions such as invoices

Information asymmetry

One party in a transaction has more information that is important to the transaction than the other

Information density

Total amount and quality of information to all market participants

Market entry costs

The cost merchants must pay to simply bring their goods to the market

Price transparency

Ease with which consumers can find out the variety of prices in the market

Richness

Complexity and content of a message

Transaction costs

Cost of participating in a market

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