[COMMERCE 2KA3] - Midterm Exam Guide - Everything you need to know! (32 pages long)

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2KA3
• Professor: A L I R M O N T A Z E M I

Document Summary

Digital firm: can be defined along several dimensions; it is one in which nearly all of the organization"s significant business relationships with customers, suppliers, and employees are digitally enabled and mediated. Core business process are accomplished through digital networks spanning the entire organization or linking multiple organizations. Business processes: refer to the set of logically related tasks and behaviours that organizations develop over time to produce specific business results and the unique manner in which theses activities are organized and coordinated. Key corporate assets: intellectual property, core competencies, and finical and human assets- are managed through digital means. Time shifting: refers to business being done continuously 24/7 rather than in a workday. Operational excellence: businesses continually seek to improve the efficiency of their operations in order to achiever higher profitability. Business model: describes how a company produces, delivers, and sells a product or service to create wealth.