IFT 322 IT Innovation & Entrepreneurship Review

Comprehensive practice flashcards covering E-business, E-commerce revenue models, IT infrastructure components, and management strategies.

What is the definition of e-commerce?

The buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.

How does e-business differ from e-commerce?

While e-commerce refers to conducting online transactions, e-business encompasses all the business activities and services conducted using the web.

What are the 5 C's of e-commerce?

$1$ - Company, $2$ - Collaborators, $3$ - Customers, $4$ - Competitors, $5$ - Context.

What defines the 'Company' element in the 5 C's of e-commerce?

The purpose of the company and how it is positioned.

What is E-marketing?

The use of digital technologies like websites, email, and mobile to connect businesses with customers.

What are the five components of e-business listed in the course materials?

E-procurement, online stores, online marketplace, online communities, and online companies.

What are the six common types of e-commerce transactions?

Business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), consumer-to-business (C2B), business-to-administration (B2A), and consumer-to-administration (C2A).

How is Business-to-administration (B2A) defined?

Businesses conducting transactions with public administration or government bodies, such as an ammunition manufacturer selling to the U.S. Army.

What is an example of Consumer-to-administration (C2A)?

Consumers conducting transactions with public administration or government bodies, such as filing taxes.

How does the drop shipping revenue model function?

A company creates a digital storefront and sells goods, then relying on a supplier to manage inventory, warehouse goods, package orders, and deliver the product.

What is white-label e-commerce?

The seller buys an existing product from a manufacturer and repackages it under its own brand for resale.

How does private labeling differ from white-labeling?

In private labeling, the seller may have more control over the product, such as having it made to particular specifications, like store brands.

What are the components of IT infrastructure?

Hardware, software, networks, data centers, and cloud services.

What specific hardware is included in network infrastructure?

Routers, switches, hubs, repeaters, gateways, bridges, and modems.

Name four popular tools used by networking professionals for software-based networking tasks.

Wireshark, Cisco Packet Tracer, SolarWinds, and Ansible.

What are the three broad categories of infrastructure management?

Storage management, systems management, and network management.

What tasks are associated with storage management?

Backup and recovery, capacity planning, and storage performance monitoring.

What are the primary responsibilities of systems management?

Installing updates, monitoring system performance, and setting up and managing accounts.

What are the responsibilities of network management?

Configuring network devices, installing firewalls, monitoring traffic, and troubleshooting connectivity issues.

What is capacity planning in the context of infrastructure management?

Forecasting IT needs and ensuring sufficient storage and processing power.

List three benefits of infrastructure management.

Reduces system downtime, streamlines operations and workflows, and improves response time.

Why is 'wide selection' considered an advantage of e-commerce?

E-commerce enables brands to make an array of products available that are shipped from various warehouses rather than relying on limited physical shelf space.

What are the disadvantages of e-commerce regarding product experience?

Viewing images on a webpage is different from direct experience; consumers may receive products that differ from expectations and require returns.

How can e-commerce sites use visitor data for personalization?

By tracking browsing, search, and purchase histories to present personalized product recommendations and obtain insights about target markets.

In the order processing cycle, what is the role of the 'order manager'?

It acts as a central computer that receives order data and relays it to databases for inventory, merchant systems for payment, and bank computers.