Business Models for Electronic Systems Practice Flashcards

A set of vocabulary flashcards defining key business models, e-commerce categories, and electronic systems terminology based on the lecture transcript.

Business Model

Describes an architecture for product, service and information flows, including a description of the various business actors, their roles, potential benefits, and the source of revenue.

Revenue Model

The specific section of a business model that describes how financial value is generated.

Business-to-Business (B2B)

E-commerce involving transactions between businesses, particularly common among large organizations, and includes electronic funds transfer and electronic tracking of transactions.

Business-to-Consumer (B2C)

E-commerce involving a seller (business) and consumers, where the business acts as the information source and the customer as the information seeker.

Business-to-Government (B2G)

E-commerce involving transactions between government agencies or departments and a business.

Activity models

Models that describe what a business does as part of its operations.

Process models

Models that describe how a business accomplishes its specific activities.

Data models

Models that represent the information structure of a business.

E-shop (virtual Storefront)

Web marketing of a company or shop where the main goal is to sell goods and services and a secondary goal is to promote the company.

E-mall

A collection of e-shops under a common umbrella, which might utilize a common payment method (one shopping cart) and a single entry point.

Virtual communities

A model where value is derived from members' loyalty and repeat visits; revenue is typically generated from membership fees and advertising.

Market integrator

A disinterested third party that brings buyers and sellers in a specific market sector (vertical market) together, generating revenue from transaction or listing fees.

Critical mass

The problem or threshold that market integrators must achieve and sustain to remain successful.

E-Procurement

The electronic tendering and procurement of goods and services, offering wider choice and lower costs for buyers.

Auction model

A business model where a site provides a virtual space for ongoing sales, making money by taking a commission on all sales.

Information Services

Services that add value to data (such as customer profiling or business intelligence) and are often paid for via subscription or per use.

Certification Authorities

Entities such as eTrust and Verisign that offer authentication and verification services.

Electronic Data Exchange

A B2B type of e-commerce that uses standards-based messages such as ANSI X.12 and UN EDIFACT.

Brochureware

The distribution of product/service information and electronic catalogues via methods like CD-ROMs or Internet Web Sites in HTML and PDF formats.

Electronic Funds Transfers (EFT)

Electronic transactions involving financial institutions that utilize X9 Standards and private networks.

Application Service Providers (ASPs)

An evolving business model involving application rental, hosting services, and added value services, which are mostly server-based today.