Chapter 2: Understanding E-Business, CRM, and KM
1. Understand how e-business differs from traditional business 2. Comprehend the relationship between e-business and electronic commerce 3. Understand the fundamental ideas behind customer relationship management 4. Understand the fundamental value proposition and key tenets of knowledge management 5. Identify the opportunities for knowledge management in e-business 6. Understand the fundamental ideas behind knowledge-enabled customer relationship management and its evolution
E-Business: Is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners.
…show more content…
* Defining Knowledge * Knowledge is a fluid mix of framed, contextual experience, values, situated information, expertise, and grounded intuition that provides the framework for evaluating, understanding, and incorporating new experiences and information. * Knowledge, Market Value, and Prosperity * Intangible assets provide value to firms, these intangibles primarily include their * 1- knowledge capital * 2- relationship capital * Examples of such intangible assets include: * Brand recognition * Industry-driving vision and ground-breaking business strategy * Patents and technological or process breakthroughs * Customer relationship and customer loyalty * Innovative business ideas * Anticipated future products * Recognized history of past achievements * * * Amazon, eBay, America Online, eFax.com, E*Trade, and Schwab are some excellent e-businesses that have excelled at building such intangible assets. * Intellectual Capital Versus Knowledge * Intellectual capital (IC) is an asset such as knowledge, collective expertise, good will, brand value, or a patent that cannot be measured by traditional accounting methods but can be used by a company to its advantage. * Knowledge is actionable