MIS chapter 3 terms

digital darwinism
implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction
disruptive technology
a new way of doing things that initially does not meet the needs of existing customers
sustaining technology
produces an improved product customers are eager to buy
internet
a massive network that connects computers all over the world and allows them to communicate with one another
web 1.0
a term that refers to the world wide web during its first few years of operation
ecommerce
the buying and selling of goods and services over the internet
ebusiness
includes ecommerce along with all activities related to internal and external business operations
paradigm shift
a new, radical form of business enters the market that reshapes the way companies and organizations behave
information richness
refers to the depth and breadth of details contained in a piece of textual, graphic, audio or video information
information reach
measures the number of people a firm can communicate with all over the world
mass customization
the ability of an organization to tailor its products or services to the customer’s specifications
personalization
when a company knows enough about a customer’s likes and dislikes that it can fashion offers more likely to appeal to that person
long tail
the tail of a typical sales curve
intermediaries
agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together
disintermediation
occurs when a business sells directly to the customer online and cuts out the intermediary
reintermediation
steps are added to the value chain as new players find ways to add value to the business process
cybermediation
refers to the creation of new kinds of intermediaries that simply could not have existed before the advent of ebusinesses
interactivity
measures advertising effectiveness by counting visitor interactions with the target ad, including time spent viewing the ad, number of pages viewed, and number of repeat visits to the advertisement
clickstream data
displays the exact pattern of a consumer’s navigation through a website
business model
a plan that details how a company creates, delivers, and generates revenues
ebusiness model
a plan that details how a company creates, delivers and generates revenues on the Internet
dot-com
the original term for a company operating on the internet
business-to-business (B2B)
applies to businesses buying from and selling to each other over the internet
business-to-consumer (B2C)
applies to any business that sells its products or services directly to consumers online
eshop (estore, etailer)
an online version of a retail store where customers can shop at any hour
consumer-to-business (C2B)
applies to any consumer that sells a product or service to a business on the internet
consumer-to-consumer (C2C)
applies to customers offering goods and services to each other on the internet
search engine
website software that finds other pages based on keyword matching similar to Google
search engine ranking
evaluates variables that search engines use to determine where a URL appears on a list of search results
search engine optimization (SEO)
combines art with science to determine how to make URLs more attractive to search engines resulting in higher search engine ranking
internet service provider (ISP)
a company that provides access to the Internet for a monthly fee
real-time communication
occurs when a system updates information at the same rate it receives it
instant messaging
a service that enables instant or real-time communication between people
podcasting
converts an audio broadcast to a digital music player
videoconference
allows people at two or more locations to interact via two-way video and audio transmissions simultaneously as well as share documents, data, computer displays, and whiteboards
web conferencing (webinar)
blends videoconferencing with document sharing and allows the user to deliver a presentation over the web to a group of geographically dispersed participants
content management systems (CMS)
help companies manage the creation, storage, editing and publication of their website content
taxonomy
the scientific classification of organisms into groups based on similarities of structure or origin
web 2.0
the next generation of internet use, more mature, distinctive communications platform characterized by new qualities such as collaboration, sharing, and free
open system
nonproprietary hardware and software based on publicly known standards that allow third parties to create add-on products to plug into or interoperate with the system
source code
contains instructions written by a programmer specifying the actions to be performed by computer software
closed source
any proprietary software licensed under exclusive legal right of the copyright holder
open source
refers to any software whose source code is made available free for any third party to review and modify
user contributed/generated content
created and updated by many users for many users
native advertising
an online marketing concept in which the advertiser attempts to gain attention by providing content in the context of the user’s experience in terms of its content, format, style or placement
reputation system
buyers post feedback on sellers
collaboration system
a set of tools that supports the work of teams or groups by facilitating the sharing and flow of information
collective intelligence
collaborating and tapping into the core knowledge of all employees, partners and customers
knowledge management (KM)
involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions
knowledge management system (KMS)
supports the capture, organization and dissemination of knowledge throughout an organization
explicit knowledge
anything that can be documented, archived, and codified, often with the help of MIS
tacit knowledge
the knowledge contained in people’s heads
crowd-sourcing
collective intelligence, the wisdom of the crowd
crowdfunding
sources capital for a project by raising small amounts from a large number of individuals, typically via the internet
asynchronous communications
communication such as email, in which the message and the response do not occur at the same time
synchronous communication
communications that occur at the same time, such as IM or chat
social media
websites that rely on user participation and user-contributed content, such as Facebook, YouTube, and Twitter
social network
an application that connects people by matching profile information
social networking
the practice of expanding your business and/or social contacts by constructing a personal network
social networking analysis (SNA)
maps group contacts identifying who knows each other and who works together
social graphs
represent the interconnection of relationships in a social network
tags
specific keywords or phrases incorporated into website content for means of classification or taxonomy
social tagging
describes the collaborative activity of marking shared online content with keywords or tags as a way to organize it for future navigation, filtering, or search
hashtag
a keyword or phrase used to identify a topic and is preceded by a hash or pound sign
folksonomy
similar to taxonomy except crowdsourcing determines the tags or keyword-based classification system
website bookmark
a locally stored URL or the address of a file or internet page saved as a shortcut
social bookmarking
allows users to share, organize, search, and manage bookmarks
blog
online journal that allows users to post their own comments, graphics, and video
selfie
a self-photograph placed on a social media website
microblogging
the practice of sending brief posts to a personal blog, either publicly or to a private group of subscribers who can read the posts as IMs or as text messages
real simple syndication
a web format used to publish frequently updated works, such as blogs, news headlines, audio and video in a standardized format
wiki
a type of collaborative web page that allows users to add, remove, and change content, which can be easily organized and reorganized as required
the network effect
describes how products in a network increase in value to users as the number of users increases
mashup
a website or web application that uses content from more than one source to create a completely new product or service
application programming interface (API)
a set of routines, protocols, and tools for building software applications
mashup editors
what you see is what you get tools, they provide a visual interface to build a mashup, often allowing the user to drag and drop data points into a web application
ezine
magazine only published in electronic format on a computer network
semantic web
component of web 3.0 that describes things in a way computers can understand
egovernment
the use of strategies and technologies to transform governments by improving the delivery of services and enhancing the quality of interaction between the citizen-consumer and all branches of government
mobile business
the ability to purchase goods and services through a wireless internet-enabled device