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25 Cards in this Set
- Front
- Back
Family businesses
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Account for 50% of GDP
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Advantages of family businesses
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-Frequently have entrepreneurial spirit, flexibility, and opportunism.
-Actually out-perform public companies -Are often seen as ideal because of the loyalty and dedication to final goals. |
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Formal Competence
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Formal education, training, and experience outside the family business.
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Cultural Competence
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An understanding of the culture of a specific firm.
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Succession
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Passing the business to the next generation.
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E-Business
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Using the internet and online technologies to create operational efficiencies, thereby increasing customer value.
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E-Commerce
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-The revenue generator for businesses that choose to use the Internet to sell their goods and services.
-The moment an exchange of value occurs, e-business becomes e-commerce. |
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Eight major components of e-business
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-Business Intelligence
-Customer Relationship Management -Supply Chain Management -Enterprise Resource Management -E-Commerce -Online activities between businesses -Collaboration -Electronic transfer within firm |
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Business Intelligence (BI)
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-Component of e-business
-The activities that a small business may undertake to collect, store, access, and analyze information about it's market or competition to help with decision making. -BI that is conducted online is efficient and quick, helping companies to identify noteworthy trends and make better decisions faster. |
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Customer Relationship Management (CRM)
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-Component of e-business.
-A service approach that hopes to build a long-term and sustainable relationship with customers that has values for both the customer and the company. |
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Supply Chain Management (SCM)
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-Component of e-business.
-Every company has a supply chain: the networks of vendors that provide the raw components that are needed to make a product or deliver a service. -Efficiently and effectively improving the way that a company finds raw components and then delivers the product or service to the customer. |
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Enterprise Resource Planning (ERP)
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-Component of e-business.
-Integrating all departments and functions across a company into a single computer system that can serve the particular needs of each particular department. |
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Collaboration
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-Component of e-business
-Can occur internally or externally, and it often involves business partners. |
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Seven major types of e-commerce
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-Business to Business (B2B)
-Business to Consumer (B2C) -Consumer to Consumer (C2C) -Business to Government (B2G) -Consumer to Business (C2B) -Peer to Peer (P2P) -Mobile Commerce (m-commerce) |
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Pure Play Business
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Online business presence only
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Brick-and-Click Business
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A physical presence combined with an online presence
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Business to Business (B2B)
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-Major type of e-commerce
-Businesses focus on selling to other businesses. The largest form of e-commerce. |
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Business to Consumer (B2C)
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-Major type of e-commerce
-Retail sales between businesses and individual consumers. |
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Consumer to Consumer (C2C)
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-Major type of e-commerce.
-Consumers sell products and personal services to each other with the help of an online market maker to provide catalog, search engine, and transaction clearing. |
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Business to Government (B2G)
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-Major type of e-commerce.
-Transactions with the government. |
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Consumer to Business (C2B)
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-Major type of e-commerce.
-Between private individuals who use the Internet to sell products or services to organizations and individuals who seek sellers to bid on products or services. |
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Mobile Commerce (m-commerce)
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-Major type of e-commerce.
-Purchase of goods and services through wireless technology. |
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Peer to Peer (P2P)
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Internet users share files and computer resources directly without having to go through a central web server.
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Analytics
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The tools that can track the different ways people use your website and then make sense of the data.
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Web 2.0
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Refers to websites that are more interactive, engaging, and interesting than before.
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