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Strong competition for commodity-type products, such as toys and CDs, was a major contributor to the collapse of many dot-com companies, which suggests that a company needs to use innovative strategies to survive and prosper in the Internet economy. 2. Front end refers to the activities that support online order fulfillment, inventory management, purchasing from suppliers, payment processing, packaging, and delivery 3. An electronic shopping cart is an order-processing technology that allows customers to accumulate items they wish to buy while they continue to shop 4. A limitation of e-bartering for businesses is that excess capacity items such as office space, storage, factory space; idle facilities; and labor cannot be bartered 5. In marketing, an intermediary is a third party that operates between sellers and buyers. Intermediaries of all kinds offer their services on the Web 6. The major limitations of e-auctions are insufficient security, risk of fraud, and a limited pool of participants 7. Because of intense competition on the Web, new companies cannot establish good corporate images quickly as had done when it had few online competitors 8. Shopping carts for B2B are fairly simple, but a shopping cart for B2C may be more complex

9. Search engines not only search and match, but also have capabilities that can be used to perform routine tasks that require intelligence 10. A portal is an information gateway that attempts to address information overload by enabling people to search and access relevant information from disparate IT systems and the Internet, using advanced search and indexing techniques, such as Googles desktop 11. Although both marketplaces and marketspaces can sell physical products, the marketspace also can sell digital products, which are goods that can be transformed to digital format and delivered instantly over the Internet 12. Travelers using airline Web sites to book their flights directly without the use of travel agents is resulting in the reintermediation of travel agents 13. The functions and efficiency of an e-market are the same as that of a physical marketplace

14. E-auctions are becoming less important selling and buying channels for companies and individuals 15. WebMD, which is the largest U.S. medical services company, is known mainly for its consumer portal, but its core business is being an e-intermediary 16. Because the strength of each of Porters five forces varies considerably from industry to industry, it would be a mistake to draw general conclusions about the impact of the Internet on longterm industry profitability

17. The emergence of electronic marketplaces has resulted in lower information search costs for buyers and lower transaction and distribution costs for sellers 18. Online negotiation can be facilitated by computer technology for the negotiation process and software agents for searches and comparisons 19. Negotiation and bargaining are two types of auctions where prices are not fixed, but rather are allowed to fluctuate as market supply and demand change. 20. 21. 22. The major B2B e-marketplaces are electronic storefronts, Internet malls, and exchanges. Due to the lack of hurdles, the adoption and growth of m-commerce has been widespread. The Internet economys low barriers to entry are both an opportunity and a threat to businesses

23. Intermediaries are human or electronic agents that play an important role in EC by providing value- added services such as making payment arrangements to buyers and sellers 24. An auction is a competitive process and market mechanism that uses a competitive process by which a seller consecutive bids from buyers or a buyer solicits bids from sellers 25. Reverse auctions are bidding or tendering systems in which the buyer places an item for bid on a request for quote (RFQ) system; then potential suppliers bid on the job, with the price reducing sequentially, and the lowest bib wins

1. Unlike the physical supply chain, _______________ characterize the financial supply chains of most companies. a. b. c. d. inefficiencies efficiencies greater accuracy transparency

2. The process of determining whether a card is active and whether the customer has sufficient funds for the purchase is called: a. b. c. d. approval settlement procurement authorization

3. The process by which companies present invoices and make payments to one another through the Internet is known as:

a. b. c. d. 4. a. b. c. d. 5. a. b. c. d. 6. a. b. c. d. 7. a. b. c. d.

online accounts payable. enterprise invoice presentment and payment. electronic data interchange. online accounts receivable. From the perspective of the billing firm, all of the following are advantages of e-billing EXCEPT: opportunity for targeted advertising. reduced processing expense. universal availability. improved customer service. A card that draws the payment amount directly from the users checking account is called a(n): e-payment card. credit card. charge card debit card In financial supply chain management, the goal is to optimize all of the following EXCEPT: accounts payable accounts receivable financial risks the physical supply chain ________________ are financial institutions that provides a customer with a payment card. Credit card associations Issuing banks Payment processing services Acquiring banks

8. Factors that come into play in determining whether a particular method of e-payment achieves critical mass include all of the following EXCEPT: a. b. c. hardware and software independence. full traceability of the buyers. the degree of security of the transfer.

d. 9. a. b. c. d.

interoperability with other enterprise systems and applications. Each of the following are ways to pay bills over the Internet EXCEPT: online banking. biller direct. customer service provider. = bill consolidator.

10. ________________ provide connectivity among merchants, customers, and financial networks enabling authorization and payments is called the: a. b. c. d. Credit card associations Issuing banks Payment processing services Acquiring banks

11. From the perspective of the customer, all of the following are advantages of e-billing EXCEPT:opportunity for targeted advertising a. b. c. d. 12. a. b. c. d. lower costs. simplifies and centralizes payment processing. makes record keeping easier. greater security than other types of payments. The transfer of money from the buyers to the sellers account is called: approval settlement procurement authorization

13. B2B payments are part of a much larger financial supply chain that includes all of the following EXCEPT: a. b. c. d. 14. procurement financial reporting. contract administration. payment authorization. Characteristics of B2B payments include all of the following EXCEPT:

a. b. c. d. 15. a. b. c. d. 16. a. b. c. d.

They are much larger than payments by individuals They are significantly more complex than payments by individuals They require less rigor and security than B2C payments. They are more likely to involve disputes that require significant rework to resolve. For many firms, presentment and payment processes are all of the following EXCEPT: costly time consuming. Secure error-prone. The vast majority of B2B payments are: still made by paper check. electronic payments. made using electronic funds transfer (EFT) made with letters of credit.

17. Many B2C and B3B businesses rely on specialized third-party software and services to calculate the taxes associated with a sale because: a. b. c. d. tax laws rarely change of government regulations of the complexities they verify shipping addresses

18. The nationwide bath-oriented electronic funds transfer system that provides for interbank clearing of electronic payments for participating financial institutions is called the: a. b. c. d. electronic bill presentment and payment network Federal Reserve System Automated Clearinghouse Network Receiving Depository Financial Institution

19. ________ offer Internet Merchant Accounts, which are special accounts for credit card authorization and payment processing a. b. c. d. issuing banks payment processing services credit card associations acquiring banks

20. A payment card that provides the holder with credit to make purchases up to a limit fixed by the card company and charges relatively high interest rates on unpaid balances is the: a. b. c. d. debit card charge card e-payment card credit card

21. a. b. c. d. 22. a.

_________ are small online payments typically under US $10 E-cash E-minipayments E-micropayments E-smart payments Barriers inhibiting B2B electronic payment include all of the following EXCEPT strict standard formats for remittance information

b. inability of trading partners to send or receive electronic payments with sufficient remittance information c. d. a lack of integration of payment and accounting systems a shortage of IT staff

23. In global trade, a _____________ is a written agreement by a bank to pay the seller, on account of the buyer, a sum of money upon presentation of certain documents a. b. letter of credit trade card payment

c. d.

micropayment bank check

24. According to a survey by Credit Research Foundation, the major reasons companies turn to EIPP solutions are all of the following EXCEPT: a. b. c. d. improved cash flow improved data that can lower invoice processing costs elimination of billing disputes better customer service for billing and remittance

25. a. b. c. d.

All of the following are benefits of letters of credit (LCs) EXCEPT: credit risk is reduced because payment is accessed via the credit worthiness of the issuing bank LCs are cheap and easy to establish Payment is assured if all the terms in the LC are complied with Political risk is reduced if the LC is confirmed by a bank in the sellers country

26. a. b. c. d.

An advantage of e-checks is that they: fit current business practices, and so require little process reengineering involve complex internal processing systems contain much more information then traditional paper checks operate outside the traditional banking industry

27. Among the forms of online B2B payments, ___________ is second only to ACH in term of frequency of use a. b. c. d. 28. a. letter of credit CTX Fedwire, or wire transfer Purchasing cards The current Internet sales tax moratorium in the United States applies to: all B2B sales only

b. all sales made over the Internet if the seller has no physical presence in the state where the buyer lives c. d. all retail sales made over the Internet clothing, food, and pharmaceuticals only

29. _____________ is an EIPP many-to-many model with a third party acting as an intermediary, collecting or aggregating invoices from multiple sellers and payments from multiple buyers a. b. c. d. seller direct ACH network Consolidator Buyer direct

30. a. b. c. d.

All of the following are advantages of using purchase cards EXCEPT: they are widely accepted in international trade improved control purchasing departments report productivity gains bills are consolidated into a single payment