7. Explain business models and their role in a company. How did
ebusiness change traditional business models?
A business model is a plan that details how a company creates, delivers,
and generates revenue. Ebusiness opened new avenues for companies to
8. How can a company use mass customization and personalization to
decrease buyer power?
Mass customization and personalization keep customers loyal and coming
back thus reducing buyer power.
9. How does ebusiness differ from Business 2.0?
Ebusiness was the primary business model during Web 1.0 and Business 2.0
represents the characteristics of collaboration and sharing.
10. What are the differences among collective intelligence,
knowledge management, and crowdsourcing?
Collective intelligence is collaborating and tapping into the core knowledge
of all employees, partners, and customers. Knowledge can be a real
competitive advantage for an organization. The most common form of
collective intelligence found inside the organization is knowledge
11. Why is knowledge management critical to a business?
The primary objective of knowledge management is to be sure that a
company’s knowledge of facts, sources of information, and solutions are
12. What are the benefits and challenges associated with wikis?
Wikis are great tools for collaborating but can be changed and updated by
13. How do disintermediation, reintermediation, and
cybermediation differ?
Intermediaries are agents, software, or businesses that provide a trading
infrastructure to bring buyers and sellers together. The introduction of
ebusiness brought about disintermediation, which occurs when a business
