E-Business - Chapter 1 Terminology Homework
1. A(n) Transaction is an exchange of value, such as a purchase, a sale, or the conversion of raw materials into a finished product. 2. The group of logical, related, and sequential activities and transactions in which businesses engage are often collectively referred to as Business Processes. 3. Electronic Data Interchange occurs when one business transmits computer-readable data in a standard format to another business. 4. Businesses that engage in EDI with each other are called Trading Partners. 5. A(n) ____ is a product or service that is hard to distinguish from the same products or services provided by other sellers; its features have become standardized and well known. 6. A(n) ____ is a specific collection of business processes used to identify customers, market to those customers, and generate sales to those customers. 7. A(n) ____ is a set of processes that combine to achieve a company’s goal, which is to yield a profit. 8. A product’s ____ is the collection of attributes that affect how easily that product can be packaged and delivered. 9. ____ are the total of all costs that a buyer and seller incur as they gather information and negotiate a purchase-and-sale transaction. 10. The practice of an existing firm replacing one or more of its supplier markets with its own hierarchical structure for creating the supplied product is called ____. 11. A(n) ____ is one particular combination of product, distribution channel, and customer type. 12. As more people or organizations participate in a network, the value of the network to each participant increases. This increase in value is called a(n) ____. 13. A(n) ____ is a way of organizing the activities that each strategic business unit undertakes to design, produce, promote, market, deliver, and support the products or services it sells. 14. A(n) ____ is a company that arranges shipping and insurance for international transactions. 15. A(n) ____ is a...
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