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Electronic Markets
Electronic markets (or electronic marketplaces) are information systems (IS) which are used by multiple separate organizational entities within one or among multiple tiers in economic value chains. In analogy to the market concept which can be viewed from a macroeconomic (describing relationships among actors in an economic systems, e.g. a monopoly) as well as from a microeconomic (describing different allocation mechanisms, e.g. public auctions of telephone frequencies) perspective, electronic markets denote networked forms of business with many possible configurations: First, the topology of electronic markets may be centralized or decentralized in nature. Centralized electronic markets are hubs which often provide services to their participants. Decentralized settings involve sequential relationships within value chains which often are found when electronic messages are exchanged directly between businesses ( electronic data interchange, EDI). Second, the services provided b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Systems
An information system (IS) is a formal, sociotechnical, organizational system designed to collect, process, store, and distribute information. From a sociotechnical perspective, information systems comprise four components: task, people, structure (or roles), and technology. Information systems can be defined as an integration of components for collection, storage and processing of data, comprising digital products that process data to facilitate decision making and the data being used to provide information and contribute to knowledge. A computer information system is a system, which consists of people and computers that process or interpret information. The term is also sometimes used to simply refer to a computer system with software installed. "Information systems" is also an academic field of study about systems with a specific reference to information and the complementary networks of computer hardware and software that people and organizations use to collect, filter, p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Chain
A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of Value (economics), value to an end customer. The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, ''Competitive Advantage: Creating and Sustaining Superior Performance''. According to the OECD Secretary-General , the emergence of global value chains (GVCs) in the late 1990s provided a catalyst for accelerated change in the landscape of international investment and trade, with major, far-reaching consequences on governments as well as enterprises . Role of the business unit According to Porter, the appropriate level for constructing a value chain is the business unit within a business,Michael E. Porter (1985) Competitive advantage: creating and sustaining superior performance. The Free Press not a division (business), business division or the company as a whole. Porter is concerned that analy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macroeconomic
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output/ GDP (gross domestic product) and national income, unemployment (including unemployment rates), price indices and inflation, consumption, saving, investment, energy, international trade, and international finance. Macroeconomics and microeconomics are the two most general fields in economics. The focus of macroeconomics is often on a country (or larger entities like the whole world) and how its markets interact to produce large-scale phenomena that economists refer to as aggregate variables. In microeconomics the focus of analysis is often a single market, such as whether changes in supply or demand are to blame for price increases in the oil and automotive sectors. From introductory classes in "principles of economics" through doctora ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek language, Greek and ) is a market in which one person or company is the only supplier of a particular good or service. A monopoly is characterized by a lack of economic Competition (economics), competition to produce a particular thing, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge Monopoly price, overly high prices, which is associated with unfair price raises. Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market). A monopoly may als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomic
Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the economy as a whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the total of economic activity, dealing with the issues of growth, inflation, and unemployment—and with national policies relating to these issues. Microeconomics also deals with the effec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Data Interchange
Electronic data interchange (EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders, advance ship notices, and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements. EDI has existed at least since the early 1970s, and there are many EDI standards (including ASC X12, X12, EDIFACT, OFTP, ODETTE, etc.), some of which address the needs of specific industries or regions. It also refers specifically to a family of standards. In 1996, the National Institute of Standards and Technology defined electronic data interchange as "the computer-to-computer interchange of a standardized format for data exchange. EDI implies a sequence of messages between two parties, either of whom may serve as originator or recipient. The formatted data representing the documents may be transmitted from originator to recipient via telecommun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Industry
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Industry
The energy industry refers to all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, oil refinery, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a crucial part of the infrastructure and maintenance of society in almost all countries. In particular, the energy industry comprises: * the Fossil fuel industry, fossil fuel industries, which include petroleum industry, petroleum industries (oil companies, Oil refinery, petroleum refiners, fuel transport and end-user sales at gas stations), Coal industry, coal industries (extraction and processing), and the natural gas industries (natural gas extraction, and coal gas manufacture, as well as distribution and sales); * the electrical power industry, including electricity generation, electric power distribution, and sales; * the nuclear power industry; * the renewable energy industry, comprising alternative energy and sustainable e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Discovery
In economics and finance, the price discovery process (also called price discovery mechanism) is the process of determining the price of an asset in the marketplace through the interactions of buyers and sellers. Overview Price discovery is different from valuation. The price discovery process involves buyers and sellers arriving at a transaction price for a specific item at a given time. It involves the following: * Buyers and seller (number, size, location, and valuation perceptions) * Market mechanism (bidding and settlement processes, liquidity) * Available information (amount, timeliness, significance and reliability) including futures and other related markets * Risk management choices. "Market" is a broad term that covers buyers, sellers and even sentiment. A single market will have one or more execution venues, which describes where trades are executed. This could be in the street for a street market, or increasingly it could be an electronic or "virtual" venue. Examples ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Website
A website (also written as a web site) is any web page whose content is identified by a common domain name and is published on at least one web server. Websites are typically dedicated to a particular topic or purpose, such as news, education, commerce, entertainment, or social media. Hyperlinking between web pages guides the navigation of the site, which often starts with a home page. The most-visited sites are Google, YouTube, and Facebook. All publicly-accessible websites collectively constitute the World Wide Web. There are also private websites that can only be accessed on a private network, such as a company's internal website for its employees. Users can access websites on a range of devices, including desktops, laptops, tablets, and smartphones. The app used on these devices is called a web browser. Background The World Wide Web (WWW) was created in 1989 by the British CERN computer scientist Tim Berners-Lee. On 30 April 1993, CERN announced that the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Purchasing
Electronic may refer to: *Electronics, the science of how to control electric energy in semiconductors * ''Electronics'' (magazine), a defunct American trade journal *Electronic storage, the storage of data using an electronic device *Electronic commerce or e-commerce, the trading in products or services using computer networks, such as the Internet *Electronic publishing or e-publishing, the digital publication of books and magazines using computer networks, such as the Internet *Electronic engineering, an electrical engineering discipline Entertainment *Electronic (band), an English alternative dance band ** ''Electronic'' (album), the self-titled debut album by British band Electronic *Electronic music, a music genre *Electronic musical instrument *Electronic game, a game that employs electronics See also *Electronica, an electronic music genre *Consumer electronics Consumer electronics, also known as home electronics, are electronic devices intended for everyday household ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Car Configurator
A car, or an automobile, is a motor vehicle with wheels. Most definitions of cars state that they run primarily on roads, Car seat, seat one to eight people, have four wheels, and mainly transport private transport#Personal transport, people rather than cargo. There are around one billion cars in use worldwide. The French inventor Nicolas-Joseph Cugnot built the first steam-powered road vehicle in 1769, while the Swiss inventor François Isaac de Rivaz designed and constructed the first internal combustion-powered automobile in 1808. The modern car—a practical, marketable automobile for everyday use—was invented in 1886, when the German inventor Carl Benz patented his Benz Patent-Motorwagen. Commercial cars became widely available during the 20th century. The 1901 Oldsmobile Curved Dash and the 1908 Ford Model T, both American cars, are widely considered the first mass-produced and mass-affordable cars, respectively. Cars were rapidly adopted in the US, where they replac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
