(16) Exploring Social Media and e-Business

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Author:
marcyourspot
ID:
247425
Filename:
(16) Exploring Social Media and e-Business
Updated:
2013-11-17 20:52:04
Tags:
Intro Business
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Description:
Chapter 16
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  1. Social Media
    The online interactions that allows people and businesses to communicate and share ideas, personal information, and information about products and services.
  2. Blog
    A website that allows a company to share information in order to not only increase the customer's knowledge about its product and services, but also to build trust
  3. Social Media Communities
    Social Networks based on the relationships among people
  4. Crowdsourcing
    Outsourcing tasks to a group of people in order to tap into the ideas of the crowd
  5. Key Performance Indicators
    Measurements that define and measure the progress of an organization toward achieving its objective
  6. E-Business or Electronic Business
    The organized effort of individuals to produce and sell, for a profit, the products and services that satisfy society's needs (through the facilities available on the internet)
  7. Outsourcing
    The process of finding outside vendors and suppliers that provide professional help, parts, or materials at a lower cost
  8. Business Model
    Represents a group of common characteristics and methods of doing business to generate sales revenues and reduce expenses
  9. Business-to-Business Model or B2B
    A model used by firms that conduct business with other businesses
  10. Business-to-Consumer Model or B2C
    A model used by firms that focus on conducting business with individual consumers
  11. Cookie and Data Mining
    Cookie- is a small piece of software sent by a Web site that tracks an individual's internet useĀ 

    Data Mining- The practice of searching through data records looking for useful information
  12. Management Information Systems (MIS)
    A system that provides people with info, they need to perform their jobs efficiently
  13. Financial Managers
    Study the firm's debts, cash flow and financial statements
  14. Operations Managers
    concerned with the systems that convert resources into goods and services

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