E-commerce, Security, and Ethics

Flashcards of vocabulary terms related to e-commerce, security, and ethics.

Ubiquity

Always accessible.

Global reach

Accessible globally with an internet connection.

Standards

Universal standards.

Richness

Complex information, like videos.

Interactivity

Back and forth conversations.

Info density

Volume of information.

Personalization

A different experience styled to each user.

Social tech

Social media and user-generated content.

Reduce info asymmetry (Digital markets)

Reduces asymmetry between buyer and seller.

Reduce menu, search, & transaction costs

Lowers costs by printing new menus and reduces the need for a person.

Enable price discrimination, dynamic pricing, and disintermediation

Base prices off income of area, prices change any second.

Delayed gratification

Waiting for product for convenience.

Digital goods

Delivered electronically over the internet.

Costs lower

All costs are in the first unit, so everything else is inexpensive.

B2C

Business to consumer.

B2B

Business to business, sells goods and services to each other (biggest one).

C2C

Consumer to consumer.

Business models

How you create wealth; how are you creating value for the customer.

E-tailer

Selling a physical good to a customer online.

Content provider

Selling info like movies, articles, magazines, etc.

Transaction broker

Find you options for products (like houses or cars) and present those options.

Market creator

Provide the space to bring buyers and sellers together, like Etsy.

Online service provider

Provides a service like taxes (TurboTax).

Community provider

Online meet-up spaces like Facebook.

Portal

Jumping off point onto the internet.

Revenue modules

How are we generating revenue and creates profit.

Unit sales

Get it directly from distributors.

Subscription model

Recurring expense and continuing access to it (Spotify).

Advertising

Stickiness (what sticks); the most widely used revenue for e-commerce.

Fees / commissions

Flat rate paid for a service or access to it.

Affiliate pricing

People get paid for linking a product.

Freemium

Basic version is free, but you have to pay for the better stuff.

New ads formats

Search, banner, and pop-up ads.

Long tail marketing

Market goods profitability to very small online audiences.

Leverage of influence

Ex. Posting about a new car so people buy it.

Target shared interests

Ex. Groups.

Influence

Timelines, newsfeed, collaborative.

Social e-commerce

Use of social networks to share knowledge about items.

Wisdom of crowds

Belief that large numbers of people can make better decisions.

Crowd sourcing

Uses large internet audiences for advice, market feedback, new ideas.

Behavioral targeting

Tracking online behavior of individuals.

Cookies

Small text files allowing for personalized content.

Electronic Data Interchange (EDI)

Computer-to-computer exchange of standard transactions.

Private networks

A large firm using a secure website to link to its suppliers.

B2B market places

Digital marketplace for many buyers and sellers.

Exchanges

Independently owned third-party B2B e-commerce marketplace.

M-commerce

Sales of goods and services via mobile devices.

Location-based services (geo social)

Geo-social, geo-advertising, and geo-info services.

Geosocial Services

Can tell you where friends are meeting

Mobile app payment systems

Using mobile apps to replace credit cards and banking services

Near-field communication (NFC)

Contactless payments via smartphones.

QR Code payment systems

Contactless payments initiated by scanning a QR code.

Trojan

Malicious programs disguised as helpful but harms computers (drive by download).

Peer to peer (P2P) payment systems

Transferring money among individuals with proprietary apps (Venmo or Zelle).

Security

Policies and measures preventing unauthorized access.

Controls

Policies securing or ensuring the safety of assets

Hardware & software (vulnerability)

Difficult to make secure while being cost-effective.

Disasters (vulnerability)

Natural disasters harming systems.

Mobile (vulnerability)

More accessibility, higher chance of theft or loss.

Internet/networks (vulnerability)

Anyone can access the system due to network connectivity.

Wireless (vulnerability)

Easier to hack the wireless network.

Malware

Software written to do harm.

Virus

Attaches to a specific file; typically destroys files.

Worm

Spreads automatically and replicates

Spyware

Loaded onto system that watches what you do.

Key logger

Keeps track of what you do.

Ransomeware

Unauthorized access, hold info. hostage until pay.

Hacker

Unidentified person who gets unauthorized access

Cyber Vandalism

To create a scene or statement

Botnet

Infected devices doing an action together.

Distributed denial-of-service attack (DDoS)

Attack of numerous computers to overwhelm a network.

Cyber Crime

Trying to make money off hacking efforts.

Ransomware

Unauthorized access and hold information hostage until you pay.

Identity Theft

Getting personal info. to pretend to be you and spend money.

Spoofing

Pretend to be someone else.

Phishing

Sending an email trying to get personal info.

Pharming

Get you to a similar website to get personal information.

Sniffing

Tap into wireless and intercept signals to extract information.

Evil Twin

Looks like legitimate wireless network but it is not.

Internal threats

Own employees.

Social Engineering

Let people in because it looks OK.

Software Bugs

Issues with security.

Electronic Evidence

Information stored in digital format used as proof in legal proceedings.

Computer Forensics

Scientific collection of electronically stored information

Information Systems Controls

Manual and automated controls consisting of general and application controls.

General Controls

Control environment governing the security of data files

Software controls

Monitor use of system software.

Hardware Controls

Ensure computer hardware is physically secure

Computer Operations Controls

Oversee the work of the computer department

Data Security Controls

Ensure that files are not subject to unauthorized access

Implementation Controls

Audit the systems development process

Administrative Controls

Formalized standards to ensure controls are properly executed and enforced.

Application Controls

Specific controls unique to each application; authorized data.

Input Controls

Check data for accuracy and completeness when data enters the system

Processing Controls

Establish that data are accurately processed during updating

Output Controls

Ensure that the results of computer processing are accurate

Risk Assessment

Determine the level of risk to a firm if activities are not controlled

Security Policy

ranking info risks identifying accetable security goals

Acceptable Use Policy (AUP)

Acceptable uses of the firm’s information resources

Disaster recovery planning

Plans for the restoration of disrupted computing