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What is the definition of information?

Data converted into a meaningful and useful context

What is the definition of variable?

Data characteristic that stands for a value that changes or varies over time

Successful companies operate ______________, integrating the operations of all departments


What is information that returns to its original transmitter and modifies the transmitter's actions?


Who is responsible for collecting, maintaining, and distributing company knowledge?


What are Porter's Five Forces?

Buyer Power, Supplier Power, Threat of Substitute Products or Services, Threat of New Entrants, Rivalry among Existing Competitors

What are Porter's three generic strategies?

Cost Leadership, Differentiation, Focused Strategy

A business _______ is a standardized set of activities that accomplish a specific task, such as processing a customer's order.


______ value activities include firm infrastructure, human resource management, technology development, and procurement.


Knowledge ________ are individuals valued for their ability to interpret and analyze information.


A ______ is a collection of parts that link to achieve a common purpose.


_____ is high when competition in fierce in a marker and low when competitors are more complacent

rivalry among existing competitors

Changing to a new product or service can be difficult for some customers because of ______

switching costs

A company that develops a unique difference in its products or services with the intent to influence demand is creating _____

product differentiation

______ represents buyer power for the organic milk industry

Safeway, Whole Foods, Vons

_____ are considered suppliers to the organic milk industry

Horizon Organic, Organic Valley, Whole Foods Organic

_____ would be considered a substiture product to organic milk

juice, tea

What are Porter's Three generic strategies?

cost leadership, differentiation, focused strategy

Based on the examples of Porter's three generic strategies in the textbook, which of the following is Walmart following?

broad cost leadership

In analyzing Neiman Marcus, which of Porter's three generic strategies would you determine that is was following?

broad differentiation

In analyzing Payless Shoes, which of Porter's three generic strategies would you determine that is was following?

focused cost leadership

In analyzing Tiffany & Co, which of Porter's three generic strategies would you determine that is was following?

focus differentiation

The ___-cost operator saved on expenses and passes the savings along to customers in the form of ____ prices

low; low

Describe Web 2.0

Collaboration, sharing and free

A(n_ _____ consists of nonpropriety hardware and software based on publicly known standards that allows third parties to create add-on products to plug into or interoperate with the system.

open system

Reviews and customer feedback on sellers in what type of user-generated content?

Reputation System

Which of the following possible answers best describes asynchronous communications?

Communication, such as email, in which the message and the response do not occur at the same time.

Which of the below defines synchronous communications?

Communications that occur at the same time, such as IM.

How do you describe a business that operates online only?

pure play

How do we describe agents, software or businesses that provide a trading infrastructure to bring buyers and sellers together?


In ______, steps are added to the value chain as new players find ways to add value to the business process


What type of B2C business model has TJ Maxx implemented?

brick-and-mortar business

Barnes & Noble is a good example of a business that has used the ______ model

click-and-mortar business

What type of B2C model has Google implemented?

pure-play business

What describes how products in a network increase in value to users as the number of users increase?

Network Effect

What describes "what you see is what you get (WYSIWYG) tools?

mashup editors

What describes a format used to publish frequently updated works, such as blogs, news headlines, audio and video, in a standardized format?

real simple syndication

What describes the practive of sending brief posts to a personal blog, either publicly or to a private group of subscribers who can read the posts as IMs or as texts?


The term that describes that crowdsourcing determines the tags or keyword-based classification system


What describes the collaborative activity of making shared online content with keywords or tags as a way to organize it for future navigation, filtering, or search?

social tagging

What is a plan that details how a company creates, delivers and generates revenue?

ebusiness model

During the first 10 years of the Internet, people primarily used it to connect computers together. Which category of web development would you place this time?

web 1.0

What would you not find for free on the internet?


What is the best term to describe an Internet customer who can order one-of-a-kind toys or a product specific to the customer's likes and dislikes?

mass customization

what is a business that operates on the internet without a physical store?

pure-play business

What is another name for the semantic web?

web 3.0

What occurs when a company knows enough about a customer's likes and dislikes that it can fashion offers more likely to appeal to that person?


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