Exam 1: Introduction to Electronic Commerce

The _____  refer to the activities that each strategic business unit undertakes to design, produce, promote, market, deliver, and support the products or services it sells.

Software translation is also referred to as _____ translation.

Buyers and sellers in commodity markets experience significant transaction costs.

SWOT is the acronym for _____.

Economists use a formal definition of market that includes two conditions: first, the potential sellers of a good come into contact with potential buyers, and second, that a medium of exchange is available.

In _____ or telework, an employee logs in to the company network through the Internet instead of traveling to an office.

IBM defines electronic business as "the transformation of key business processes through the use of Internet technologies."

A(n) _____ is a gathering of people who share a common interest, and this gathering takes place on the Internet.

The group of logical, related, and sequential activities and transactions in which businesses engage are often collectively referred to as _____.

A(n) _____ is an independent firm that offers connection and transaction-forwarding services to buyers and sellers engaged in electronic data interchange.

List the three categories of electronic commerce that are most commonly used.

Business-to-business electronic commerce occurs when a person sells an item through a Web auction site to another person.

Using the value chain reinforces the idea that electronic commerce should be a business solution, not a technology implemented for its own sake.

A commodity item is a product or service that is hard to distinguish from the same product or service provided by other sellers.

According to Porter, _____ describes the larger stream of activities into which a particular business unit's value chain is embedded.

Businesses and individuals can use electronic commerce to reduce transaction costs by improving the flow of information and increasing the coordination of actions.

A(n) _____ is a set of processes that combine to achieve a company's primary goal, which is typically to yield a profit.

A product that has a strong brand reputation is easier to sell over the Web than an unbranded item.

Business-to-business (B2B) electronic commerce is sometimes called _____.

The increase in broadband connections in homes is a key element in the B2C component of the second wave.