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25 Cards in this Set

  • Front
  • Back
Family businesses
Account for 50% of GDP
Advantages of family businesses
-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.
Formal Competence
Formal education, training, and experience outside the family business.
Cultural Competence
An understanding of the culture of a specific firm.
Succession
Passing the business to the next generation.
E-Business
Using the internet and online technologies to create operational efficiencies, thereby increasing customer value.
E-Commerce
-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.
Eight major components of e-business
-Business Intelligence
-Customer Relationship Management
-Supply Chain Management
-Enterprise Resource Management
-E-Commerce
-Online activities between businesses
-Collaboration
-Electronic transfer within firm
Business Intelligence (BI)
-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.
Customer Relationship Management (CRM)
-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.
Supply Chain Management (SCM)
-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.
Enterprise Resource Planning (ERP)
-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.
Collaboration
-Component of e-business
-Can occur internally or externally, and it often involves business partners.
Seven major types of e-commerce
-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)
Pure Play Business
Online business presence only
Brick-and-Click Business
A physical presence combined with an online presence
Business to Business (B2B)
-Major type of e-commerce
-Businesses focus on selling to other businesses. The largest form of e-commerce.
Business to Consumer (B2C)
-Major type of e-commerce
-Retail sales between businesses and individual consumers.
Consumer to Consumer (C2C)
-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.
Business to Government (B2G)
-Major type of e-commerce.
-Transactions with the government.
Consumer to Business (C2B)
-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.
Mobile Commerce (m-commerce)
-Major type of e-commerce.
-Purchase of goods and services through wireless technology.
Peer to Peer (P2P)
Internet users share files and computer resources directly without having to go through a central web server.
Analytics
The tools that can track the different ways people use your website and then make sense of the data.
Web 2.0
Refers to websites that are more interactive, engaging, and interesting than before.