Chapter Three: Ebusiness Electronic Business Value

These flashcards cover key vocabulary terms and concepts related to eBusiness and its evolution from Web 1.0 to Web 3.0.

Disruptive Technology

A new way of doing things that initially does not meet the needs of existing customers.

Sustaining Technology

Technology that produces an improved product customers are eager to buy.

Digital Darwinism

Implies that organizations which cannot adapt to new demands in the information age are doomed to extinction.

Web 1.0

The term referring to the World Wide Web during its early years of operation, primarily from 1991 to 2003.

Ecommerce

Buying and selling of goods and services over the Internet.

Ebusiness

Includes ecommerce along with all activities related to internal and external business operations.

Mass Customization

The ability of an organization to tailor its products or services to the customers’ specifications.

Disintermediation

The removal of intermediaries in a supply chain, reducing costs and improving sales reach.

Clickstream Data

Data that tracks the exact pattern of a consumer’s navigation through a website.

Ebusiness Model

A plan that details how a company creates, delivers, and generates revenues on the internet.

B2B (Business-to-Business)

Applies to businesses buying from and selling to each other over the Internet.

B2C (Business-to-Consumer)

Applies to businesses that sell their products or services to consumers over the Internet.

User-Contributed Content

Content created and updated by many users for many users.

Social Media

Websites that rely on user participation and user-contributed content.

Open Source

Nonproprietary hardware and software based on publicly known standards.

Virtual Business

An e-business model where the business operates exclusively online.

Web 3.0

A generation of the web that utilizes intelligent applications, natural language processing, and machine-based reasoning.

Egovernment

Involves the use of strategies and technologies to improve the delivery of government services and enhance citizen interaction.