Question 1

In a(n)_____, companies coordinate their strategies, resources, and skill sets by forming long-term, stable relationships with other companies and individuals based on shared purposes.

Accepted Answer

The network economic structure refers to companies forming long-term relationships with other companies and individuals based on shared purposes. This allows for the coordination of strategies, resources, and skill sets to achieve common goals. The other options do not describe this type of collaboration between companies.

Question 2

Business-to-business (B2B) electronic commerce is sometimes called _____.

Accepted Answer

The answer of Business-to-business (B2B) electronic commerce is sometimes called...

Question 3

The term _____ refers to the theft of intellectual property from the Web.

Accepted Answer

The answer of The term _____ refers to the theft...

Question 4

In SWOT analysis, the question "Are industry trends moving upward?" involves identifying the _____ of an organization.

Accepted Answer

The question "Are industry trends moving upward?" relates to external factors that could benefit an organization, which falls under the category of opportunities in SWOT analysis. Strengths and weaknesses refer to internal factors, while threats relate to external factors that could negatively impact the organization.

Question 5

A(n) _____ is a task performed by a worker in the course of doing his or her job.

Accepted Answer

The answer of A(n) _____ is a task performed by...

Question 6

As more people participate in a network, the value of the network to each participant increases.This increase in value is called a _____.

Accepted Answer

The network effect refers to the concept that the value of a network or product increases as more people use it or participate in it. This can be seen in various digital platforms, such as social media, where more users result in more content, connections, and interactions for each individual user. The other options (A, C, and D) do not accurately match the concept described.

Question 7

According to Porter, _____ describes the larger stream of activities into which a particular business unit's value chain is embedded.

Accepted Answer

Porter uses the term "value system" to describe the larger stream of activities into which a particular business unit's value chain is embedded. This includes activities of upstream suppliers and downstream channels, as well as complementary products and services that may be part of a customer's overall solution.

Question 8

_____ are mobile phones that include a Web browser, a full keyboard, and an identifiable operating system that allows users to run various software packages.

Accepted Answer

The answer of _____ are mobile phones that include a...

Question 9

Departments devoted to negotiating purchase transactions with suppliers are called _____.

Accepted Answer

The answer of Departments devoted to negotiating purchase transactions with...

Question 10

_____ is a primary activity undertaken by an organization's strategic business unit.

Accepted Answer

The answer of _____ is a primary activity undertaken by...

Question 11

SWOT is the acronym for _____.

Accepted Answer

SWOT stands for strengths, weaknesses, opportunities, and threats.

Question 12

The _____ refers to a strategy adopted by many companies and investors who believed that by being the first Web site to offer a particular type of product or service, they would be given opportunities to be successful.

Accepted Answer

The answer of The _____ refers to a strategy adopted...

Question 13

The highly sophisticated tools for investigating patterns and knowledge contained in big data are called _____.

Accepted Answer

The answer of The highly sophisticated tools for investigating patterns...

Question 14

_____ is a category of electronic commerce that includes individuals who buy and sell items among themselves.

Accepted Answer

The answer of _____ is a category of electronic commerce...

Question 15

Strategic partnerships occurring between or among companies operating on the Internet are called _____.

Accepted Answer

Virtual companies refer to strategic partnerships between or among companies operating on the Internet, where they collaborate to achieve common goals without being physically integrated.

Question 16

_____ occurs when one business transmits computer-readable data in a standard format to another business.

Accepted Answer

The answer of _____ occurs when one business transmits computer-readable...

Question 17

In _____ or telework, an employee logs in to the company network through the Internet instead of traveling to an office.

Accepted Answer

The answer of In _____ or telework, an employee logs...

Question 18

An infrastructure issue that a company faces when it conducts international commerce includes _____.

Accepted Answer

Communication costs can be a challenge when conducting international commerce. Companies may need to pay for translation services or invest in technology to facilitate communication with partners in different countries. Lack of effective communication can also lead to misunderstandings, delays, and lost business opportunities.

Question 19

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 _____.

Accepted Answer

Vertical integration refers to a company taking control of its supplier markets by creating its own hierarchical structure to produce the supplied product. This can include acquiring suppliers or creating in-house manufacturing capabilities.

Question 20

A _____ 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.

Accepted Answer

The value chain is a way of organizing the activities of a business unit from design to support. It includes activities related to production, marketing, and delivery of goods or services. A SWOT analysis is a tool for assessing the strengths, weaknesses, opportunities, and threats of a business, while a strategic alliance is a partnership between two or more companies to achieve mutual benefits. "Business activity" is a very general term and does not specifically refer to a way of organizing activities.

Quiz 1: Introduction to Electronic Commerce

In a(n) _____, companies coordinate their strategies, resources, and skill sets by forming long-term, stable relationships with other companies and individuals based on shared purposes.