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Social Media
The online interactions that allows people and businesses to communicate and share ideas, personal information, and information about products and services.
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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
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Social Media Communities
Social Networks based on the relationships among people
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Crowdsourcing
Outsourcing tasks to a group of people in order to tap into the ideas of the crowd
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Key Performance Indicators
Measurements that define and measure the progress of an organization toward achieving its objective
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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)
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Outsourcing
The process of finding outside vendors and suppliers that provide professional help, parts, or materials at a lower cost
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Business Model
Represents a group of common characteristics and methods of doing business to generate sales revenues and reduce expenses
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Business-to-Business Model or B2B
A model used by firms that conduct business with other businesses
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Business-to-Consumer Model or B2C
A model used by firms that focus on conducting business with individual consumers
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Cookie and Data Mining
Cookie- is a small piece of software sent by a Web site that tracks an individual's internet use
Data Mining- The practice of searching through data records looking for useful information
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Management Information Systems (MIS)
A system that provides people with info, they need to perform their jobs efficiently
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Financial Managers
Study the firm's debts, cash flow and financial statements
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Operations Managers
concerned with the systems that convert resources into goods and services
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