IST 301 Exam 3

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Long Tail

The large parts of consumer demand that are outside the relatively small number of mainstream tastes.

Collective Intelligence

A concept based on the notion that distributed groups of people with a divergent range of information and expertise will be able to outperform the capabilities of individual experts.

Government-to-Government (G2G)

Electronic interactions that take place between countries or between different levels of government within a country.

Online Investing

The use of the Internet to obtain information about stock quotes and manage financial portfolios.

Reverse Pricing

A pricing system in which customers specify the product they are looking for and how much they are willing to pay; this information is routed to appropriate companies who either accept or reject the customer's offer.

M-Commerce (Mobile Commerce)

Any electronic transaction or information interaction conducted using a wireless, mobile device and mobile networks that leads to a transfer of real or perceived value in exchange for information, services, or goods.

Menu-Driven Pricing

The separation of product price and cost of services. It is a transformation of pay one price to you pay for what you get.

E-Information

The use of the Internet to provide electronic brochures and other types of information for customers.

Consumer-to-Business (C2B)

Electronic commerce transactions in which consumers sell goods or services to businesses.

Sponsored Search

Advertising that is listed in the sponsored search results for a specific search term.

Group Buying

Special volume discounts negotiated with local businesses and offered to people in the form of "daily deals"; if enough people agree to purchase the product or service, everyone can purchase the product at the discounted price.

Global Information Dissemination

The use of the Internet as an inexpensive means for distributing an organization's information.

Web Analytics

The analysis of Web surfers' behavior in order to improve a site's performance.

Click-and-Motar Business Strategy

A business approach utilizing both physical locations and virtual locations. Also referred to as "bricks-and-clicks"

Virtual Company

A business approach that exclusively utilizes an online presence.

Government-to-Citizen (G2C)

Online interactions between federal, state, and local governments and their constituents.

Electronic Commerce

The exchange of goods and services via the Internet among and between customers, firms, employees, business partners, suppliers, and so on.

Internet Tax Freedom Act

An act mandating a moratorium on electronic commerce taxation in order to stimulate electronic commerce.

E-Integration

The use of the Internet to provide customers with the ability to gain personalized information by querying corporate databases and other information sources.

Reverse Auction

A type of auction in which buyers post a request for proposal (RFP) and sellers respond with bids.

Paid Inclusion

The inclusion of a Web site in a search engine's listing after payment of a fee.

Transaction Support

Utilizing the Web to provide automatic support to clients and firms for conducting business online without human assistance.

Business-to-Consumer (B2C)

Electronic commerce transactions between businesses and consumers.

Online Banking

The use of the Internet to conduct banking transactions.

Functional Convenience

A Web site's characteristics that make the interaction with the site easier or more convenient.

Forward Auction

A form of e-auctions that allows sellers to post goods and services for sale and buyers to bid on those items.

Integration

The use of Web technologies to link Web sites to corporate databases to provide real-time access to personalized information.

Digital Rights Management (DRM)

A technological solution that allows publishers to control their digital media (music, movies, and so on) to discourage, limit, or prevent illegal copying and distribution.

E-Transaction

The use of the Internet to allow customers to place orders and make payments.

Consumer-to-Consumer (C2C)

Electronic commerce transactions taking place solely between consumers.

E-Government

The use of information systems to provide citizens, organizations, and other governmental agencies with information about and access to public services.

Disintermediation

The phenomenon of cutting out the "middleman" in transactions and reaching customers more directly and efficiently.

E-Auctions

An electronic auction.

Network Click Fraud

Refers to practices of some mobile ad networks that are providing sometimes useless and even fraudulent traffic practices.

Structural Firmness

A Web site's characteristics related to security and performance.

E-Tailing

Electronic retailing; the online sales of goods and services.

QR Code

A two-dimensional barcode with a high storage capacity.

Watermark

A digital or physical mark that is difficult to reproduce; used to prevent counterfeiting or to trace illegal copies to the original purchaser.

Competitive Click Fraud

A competitor's attempt to inflate an organization's online advertising costs by repeatedly clicking on an advertiser's link.

Affiliate Marketing

A type of marketing that allows individual Web site owners to earn commission by posting other companies' ads on their Web pages.

Reintermediation

The design of a business model that reintroduces middlemen in order to reduce the chaos brought on by disintermediation.

Click Fraud

The abuse of pay-per-click advertising models by repeatedly clicking on a link to inflate revenue to the host or increase the costs for the advertiser.

Brick-and-Mortar Business Strategy

A business approach exclusively utilizing physical locations, such as department stores, business offices, and manufacturing plants, without an online presence.

Search Advertising

Advertising that is listed in the sponsored search results for a specific search term.

Location-Based Services

Highly personalized mobile services based on a user's location.

Pay Per Click

A payment model used in online advertising where the advertiser pays the Web site owner a fee for visitors visiting a certain link.

Conversion Rate

The percentage of visitors to a Web site who perform the desired action.

Business-to-Business (B2B)

Electronic commerce transactions between business partners, such as suppliers and intermediaries.

Click-Only Business Strategy

A business approach that exclusively utilizes an online presence. Companies using this strategy are also referred to as virtual companies.

Mass Customization

Tailoring products and services to meet particular needs of individual customers on a large scale.

Card Verification Value (CVV2)

A three-digit code located on the back of a credit card; used in transactions when the physical card is not present.

Brick-and-Clicks Business Strategy

A business approach utilizing both physical locations and virtual locations.

Interactive Communication

Immediate communication and feedback between a company and its customers using Web technologies.

Click-Through Rate

The ratio of surfers who click on an ad (i.e., clicks), divided by the number of times it was displayed (i.e., impressions).

Representational Delight

A Web site's characteristics that stimulate a consumer's senses.

Government-to-Business (G2B)

Electronic commerce that involves a country's government and businesses.

Electronic Bill Pay

The use of online banking for bill paying.

Search Engine Optimization

Methods for improving a site's ranking in search engine results.

ERP Extended Components

The components of an ERP that support the primary external activities of an organization for dealing with suppliers and customers.

Downstream Information Flow

An information flow that relates to the information that is produced by a company and sent along to another organization, such as a distributor.

Modules

A component of a software application that can be selected and implemented as needed.

Value System

A collection of interlocking company value chains.

Interorganizational System (IOS)

An information system that communicates across organizational boundaries.

Off-the-Shelf Software

Software designed and used to support general business processes that does not require any specific tailoring to meet an organization's needs.

Stand-Alone Applications

A system that focuses on the specific needs of an individual department and is not designed to communicate with other systems in the organization.

Service-Oriented Architecture

A software architecture in which business processes are broken down into individual components (or services) that are designed to achieve the desired results for the service consumer (which can be either an application, another service, or a person).

Enterprise Resource Planning (ERP)

An information system that integrates business activities across departmental boundaries, including planning, manufacturing, sales, marketing, and so on.

Internally Focused Systems

An information system that supports functional areas, business processes, and decision making within an organization.

Enterprise System

An information system that spans the entire organization and can be used to integrate business processes, activities, and information across all functional areas of a firm.

Web Service

A component that allows data to be accessed without intimate knowledge of other organizations' systems, enabling machine-to-machine interaction over the Internet.

Business Process Reengineering (BPR)

Legacy term for business process management (BPM).

Service

An individual software component designed to perform a specific task.

Make-to-Stock Process

The set of processes associated with producing goods based on demand forecasts.

Made-to-Order Process

The set of processes associated with producing goods based on sales orders.

Customization

Modifying software so that it better suits user needs.

Order-to-Cash Process

The set of processes associated with selling a product or service.

ERP Core Components

The components of an ERP that support the internal activities of an organization for producing products and services.

Procure-to-Pay Process

The set of processes associated with procuring goods from external vendors.

Custom Software

Software programs that are designed and developed for a company's specific needs as opposed to being bought off the shelf.

Packaged Software

A software program written by a third-party vendor for the needs of many different users and organizations.

Business Process Management (BPM)

A systematic, structured improvement approach by all or part of an organization, including a critical examination and redesign of business processes in order to achieve dramatic improvements in one or more performance measures such as quality, cycle time, or cost.

Upstream Information Flow

An information flow consisting of information received from another organization, such as from a supplier.

Enterprise-Wide Information System

An information system that spans the entire organization and can be used to integrate business processes, activities, and information across all functional areas of a firm.

Legacy Systems

Older stand-alone computer systems within an organization with older versions of applications that are either fast approaching or beyond the end of their useful life within the organization.

Support Activities

Business activities that enable the primary activities to take place. Support activities include administrative activities, infrastructure, human resources, technology development, and procurement.

Core Activities

The activities within a value chain that process inputs and produce outputs, including inbound logistics, operations and manufacturing, outbound logistics, marketing and sales, and customer service.

Vanilla Version

The features and modules that a packaged software system comes with out of the box.

Externally Focused Systems

An information system that coordinates business activities with customers, suppliers, business partners, and others who operate outside an organization's boundaries.

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