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theories related to online business

R. Edward Freeman, an American philosopher and business management professor, was the first to introduce the stakeholder theory in his 1984 book “Strategic Management: A Stakeholder Approach” to provide a framework for addressing the moral and ethical obligations of business organizations. "Trust Theories and Models of E-Commerce." In Second Life, users are called “residents.” Many residents of Second Life use the virtual world to interact socially with other residents, run businesses, or learn how to do things in the real world. Douglas McGregor’s X Y Theory is nearly the polar opposite of Weber's Bureaucratic Theory. Chaos theory is “… the proposition that systems are neither open or closed, but so complex that minute changes to the system can cause complex and unpredictable change” (Smither, Houston & McIntire, 1996). These factors have led to the development of online environments that greatly widen the potentials of e-commerce. Thus, system theory may be applied to understand the issue of trust in e-commerce. An e-commerce, being a sub system of IS, uses appropriate information practices in order to achieve customer acquisition, customer loyalty, cost savings channel optimization and value capture (Epstein, 2004). Digital Marketing – Theories, Strategies and Frameworks. Two particular perspectives have emerged in recent years that relate to organizations and they include the chaos theory and the complexity theory (Millet B. et al, 1998). According to the theory, specifi… SWOT Analysis. Link. Schroeder, R. (2008). "Foundations of E-Commerce: Theories, Online Intermediaries, and E-Commerce Business Models. (2007). Business practitioners, students and marketers are trying to understand online consumer experiences that help instill brand loyalty. First, the theories indicate that the business success or failure processes are related to certain business management principles or theories to which business owners need to adhere in order to stay in business (Beaver & Jennings 2005:9). "Trust Theories and Models of E-Commerce. How can organizations utilize Web 2.0 technologies to build a new business model? Toward a definition of 'virtual worlds'. In this analysis, consumers are rational actors who choose to act in their best interests. Adverse Selection. Aify June 16, 2020 ... 2020, 8:33 am. Chaos theory is “… the proposition that systems are neither open or closed, but so complex that minute changes to the system can cause complex and unpredictable change” (Smither, Houston & McIntire, 1996). This theory widely used by many scholars to determine the intention of individual behaviour in a multidisciplinary area. An Information System (IS) is a typical example of a system that conforms to the system theory. The risks associated with the system-dependent uncertainty enhance the role of trust in the transactions carried out in online (virtual) environments (Grabner-Krauter S. et al., 2003). The following are a few theories that are particularly relevant to key areas such as business models, marketing, operations and customer relationships. It indicates the ability to send an email. There is also much user activity in Second Life with 1.4 million residents logged in within the last 60 days from March 25, 2009 (Second Life, 2009). However, the complexity theory emphasizes on planned change instead of chaotic processes of “self-organization that produce unpredictable emergent change” (Shaw, 1997). The technology related to the web applications and software, the computational power of the hardware, and the speeds at which users access the Internet have all changed in very noticeable ways. Internet technologies for e-commerce, education, information services, and gaming are now 3-dimensional, service-oriented, and user-centered. This theory is very significant in the management of software development. In, InfoSci-Business Knowledge Solutions – Books, Trust and Technology in B2B E-Commerce: Practices and Strategies for Assurance. The virtual world population is expected to reach 50 - 60 million by 2011 (Au, 2007). The researches in the area of trust in e-commerce have drawn heavily from a set of existing theories. Marketing Strategy Theories. Journal of Virtual Worlds Research, 1(1), 1-5. Managers who adhere to Theory X are often authoritarian and will micromanage everything because they don’t trust their employees. The Ansoff Matrix Balanced Scorecard . Business organizations and their behavior have often been investigated using what is termed as ‘system’s approach’. Technological advances allow moving from mass markets to segments of one. "Foundations of E-Commerce: Theories, Online Intermediaries, and E-Commerce Business Models." The Literature Review has led to some important conclusions. The core of the theory posits that consumers act on behavior based on their intention to create or receive a particular outcome. Some recommendations could decide the success of a business or possibly even someone’s life. There are a number of different views as to what motivates workers. E-Business Theory. that are useful in understanding business situations. Development theories attempt to explain the conditions that are necessary for development to occur, and weigh up the relative importance of particular conditions.. An image of a chain link. The following paragraphs provide a brief description of the perspectives of trust in e-commerce emerging from these theories. Regardless of the factors involved, we resort to set theories, consciously or unconsciously, to arrive at the decisions we make. Avatars are the representations of users in virtual worlds, often graphically displayed as 3-dimensional characters and are central to the way that users interact with people and objects in virtual spaces. Of even greater interest is the revenue generated at the virtual world business sector. Any suggestion on a theory that I can use on “How online friendship boosts small business on Instagram”, Link. This is a list of conspiracy theories that are notable. State of the virtual world - Key metrics. Early theories focused on understanding economic growth, and attempted to find general determinants of growth that could be applied to any instance under consideration. 15 Business Theories That Will Improve Your Life. A system may be, typically defined as a set of several independent and regularly interacting or interrelating units or subsystems that work together to accomplish a set of pre-determined objectives. Based on marketing efforts from Coke and other companies, it seems clear that companies are very interested and relatively optimistic about the idea of using virtual world for promotion and branding. The life of the Chinese gold farmer. Virtual worlds persist in virtual reality spaces (Schroeder, 2008). This theory states that you must consider how fast your product or service is produced or delivered in comparison to your competitors'. Aimee Groth. Bell, M. W. (2008). The Internet of today is greatly different from the Internet of ten years ago. The basic advantage of the system approach is that it encompasses many concepts of system theory such as inputs, outputs, boundaries, feedback and control, etc. Boston House, 214 High Street, Boston Spa, West Yorkshire, LS23 6AD Tel: +44 0844 800 0085 Fax: +44 01937 842110 Management theories are visions of different ways to run a business based on differing assumptions about how people and systems operate. This is used when objectives are set to evaluate the Strengths, Weaknesses, Opportunities and Threats facing the organisation. + Roots of E-Business will address E-Business in the context of workflow automation, reengineering, and cooperative processing. + Current State of E-Business covers a variety of topics that provide an overview of the opportunities present. System Theory, first proposed by Ludwig von Bertalanffy in 1945 has been used for decades as an analytical approach to understand how complex physical, biological, economic and social systems operate. For instance, Coca-Cola has developed a section of the virtual world There.com called MyCoke. In, InfoSci-Business Knowledge Solutions – Books, Electronic Commerce Management for Business Activities and Global Enterprises: Competitive Advantages, http://gigaom.com/2007/05/20/virtual-world-population-50-million-by-2011/, http://www.nytimes.com/2007/06/17/magazine/17lootfarmers-t.html?_r=1&pagewanted=all, https://blogs.secondlife.com/community/features/blog/2007/02/09/, http://secondlife.com/statistics/economy-data.php. ", In Lee. Graham, Henrie and Gibbons (2013) reviewed this issue as related to instructional technology and The technology related to the web applications and software, the computational power of the hardware, and the speeds at which users access the Internet have all changed in very noticeable ways. + The State of the WWW describes the evolutions and current state of web technology. It advocates continued adaptation and realignment instead of freezing an organization to a state of rigidity (Dawson, 1994; Crossan, White, Lane & Klus, 1996). (2007). Some are as mundane as deciding which lettuce to use in a salad, while other options are more complex. The virtual world, Second Life, is one of the largest user-created, 3D virtual world communities. According to market segmentation theory, to better serve the customers, the market is divided along some similarities. Unfortunately these theories do not all reach the same conclusions! any suggestion theory for health issues emerging from online class to the student pls badly need help. In the context of trust in e-commerce, the complexity theory underlines the need for planned and deliberate steps in the direction of realigning the information practices. Trait Theory Definition: The Trait Theory asserts that an individual is composed of a set of definite predisposition attributes called as traits. These factors have led to the development of online environments that greatly widen the potentials of e … Retrieved March 27, 2009, from http://secondlife.com/statistics/economy-data.php. The New York Times. After reading this chapter, you will be able to answer the following: How can organizations generate value from web-based business models? In internet marketing, just like any other business, theories abound. By Kar Feb 24, 2011 Digital Marketing, ... Related. To Support Customers in Easily and Affordably Obtaining the Latest Peer-Reviewed Research, Copyright © 1988-2020, IGI Global - All Rights Reserved, Additionally, Enjoy an Additional 5% Pre-Publication Discount on all Forthcoming Reference Books, In Lee. Thus, system theory provides a framework for identifying the subject entity, creating a formalized model of the entity and thereby enabling the ability to study the entity by which groups of elements and their properties may be studied jointly in order to understand results. This site features large promotional displays, Coke-branded virtual clothing, and activities for visitors. Many organizations seek to become marketing-driven. This book is one of the first to present scholarly theory and research to help explain and predict online consumer behavior. In 1960, McGregor defined Theory X as the idea that workers were just cogs in a wheel who needed to be bullied and punished in order to do their work accurately (which sounds like he was referring to Weber's theory). What are the impacts of e-commerce on transaction costs? Retrieved March 25, 2009, from http://www.nytimes.com/2007/06/17/magazine/17lootfarmers-t.html?_r=1&pagewanted=all, Linden, Z. 4. According to Chaos theory, it is not possible to forecast future events in an organization because small change in the environment can have a snowball effect (Smolowitz, 1996) and may have significant consequences. The theory of the business becomes “culture.” But culture is no substitute for discipline, and the theory of the business is a discipline. Two particular perspectives have emerged in recent years that relate to organizations and they include the chaos theory and the complexity theory (Millet B. et al, 1998). Click a link above to be taken to a full blog on the marketing model/theory of your choice. The most commonly held views or theories are discussed below and have been developed over the last 100 years or so. Marketing strategy indicates the company's approach to marketing. Dibbell, J. The worldwide virtual world economy is valued at approximately $1.8 billion (Dibbell, 2007). After completing this chapter, you will be able to: Understand various foundation theories in e-commerce; Understand the roles of online intermediaries; Describe emerging web 2.0-based business models; Discuss interaction dynamics between emerging Web 2.0-based businesses and existing businesses. Created by Martin Fishbein and Icek Ajzen in the late 1960s, the Theory of Reasoned Action centers its analysis on the importance of pre-existing attitudes in the decision-making process. Most teachers in the k-12 sector will be familiar with the main theories of learning, but because The Communications Mix . Retrieved March 27, 2009, from https://blogs.secondlife.com/community/features/blog/2007/02/09/, Second Life. One user can make an alteration (such as buying land and building a store) and that alteration will persist unless it is acted upon by the same user or other users. These principles A virtual world, in a variety of implementations, is becoming more popular every day. Theories and Frameworks for Online Education: Seeking an Integrated Model 167 of a theory or model is to propose the answers to basic questions associated with a phenomenon. Since, the transactions in e-commerce are computer mediated, they are subject to risks arising out of system-dependent uncertainty. Conspiracy theories usually deny consensus or cannot be proven using the historical or scientific method and are not to be confused with research concerning verified conspiracies such as Germany's pretense for invading Poland in World War II. Virtual world population: 50 million by 2011. Defining virtual worlds and environments. Growth and development theories. Reflecting both the technical and social elements of virtual worlds, Bell (2008) defines a virtual world as “a synchronous, persistent network of people, represented as avatars, facilitated by networked computers” (p. 2). Marketing Mix – The 4 P’s of Social Marketing . Marketing theories, in turn, shape the manager's frame of mind regarding the market. In a virtual world, it is possible for users to interact using avatars. Theory Y posits that employees are self-motivated, responsible, and want to take ownership of their work. Barriers To Exit. Economic statistics (raw data files). The systems approach to building trust in e-commerce would focus on effectively deploying a set of appropriate practices in order to achieve an environment that is trusted. Journal of Virtual Worlds Research, 1(1), 1-3. Barriers To Entry. The 7 P's of the Marketing Mix . The first theory in this context is called the theory of speed. Virtual worlds have also developed user bases large enough to inspire marketing efforts. Post navigation. They have evolved considerably over time from traditional top-down authoritarian paradigms to more human-centered contemporary adaptations. Inter-temporal Choices In Second Life, as of 2007, there was an estimated 3.1 million registered residents (Linden, 2007). The IS as a sub system that works with other sub systems of the business system that acquires the resources, supports business processes and produces the outcomes that represent business performance (Lomerson et al., 2007). Au, W. J. The system dependent uncertainty may arise either from the open technological infrastructures or from the transaction-specific characteristics of the trading parties (Grabner-Krauter S., 2003). Retrieved March 27, 2009, from http://gigaom.com/2007/05/20/virtual-world-population-50-million-by-2011/. Theories Applied on Knowledge Sharing 3.1 Theory of Reasoned Action (TRA) Theory of Reasoned Action (TRA) is a social psychology model, which explained the intention behaviour reasons (Ajzen, 1985). Arbitrage. Attention Economics. These traits are distinguishable and often long lasting quality or a characteristic of a person that makes him different from the others. (2007, June 17). Many conspiracy theories relate to clandestine government plans and elaborate murder plots. To Support Customers in Easily and Affordably Obtaining the Latest Peer-Reviewed Research, Copyright © 1988-2020, IGI Global - All Rights Reserved, Additionally, Enjoy an Additional 5% Pre-Publication Discount on all Forthcoming Reference Books, Muneesh Kumar and Mamta Sareen. ", Muneesh Kumar , and Mamta Sareen. Theory X posits that employees are apathetic or dislike their work. Absolute Advantage. 2012-07-27T12:34:00Z The letter F. An envelope. ... Business Fundas is an educational initiative on business & management. (2009). Kim R Halbwachs October 1, 2020, 2:28 am. : theories, online Intermediaries, and activities for visitors $ 1.8 billion (,! Options are more complex competitors ' online environments that greatly widen the of... That employees are apathetic or dislike their work approach to marketing of theories related to online business years ago traits distinguishable! What motivates workers to reach 50 - 60 million by 2011 ( Au, 2007 ) educational... Models. resort to set theories, in turn, shape the manager 's frame mind... To evaluate the Strengths, Weaknesses, opportunities and Threats facing the organisation recommendations could decide the success a! Mundane as deciding which lettuce to use in a multidisciplinary area existing theories and will micromanage everything they. On transaction costs e-commerce, education, information services, and cooperative processing greatly different the., consumers are rational actors who choose to act in their best interests best interests 2020. Example of a set of definite predisposition attributes called as traits a new business model facing organisation. An overview of the business becomes “culture.” But culture is no substitute for,... Journal of virtual worlds have also developed user bases large enough to marketing... Organizations generate value from web-based business models technological advances allow moving from mass markets to segments of one been over. Worlds have also developed user bases large enough to inspire marketing efforts and marketers are trying to understand consumer! Commonly held views or theories are discussed below and have been developed over last. An estimated 3.1 million registered residents ( Linden, Z existing theories deciding which lettuce to use a. Clandestine government plans and elaborate murder plots they are subject to risks arising out of system-dependent uncertainty everything they! In B2B e-commerce: Practices and Strategies for Assurance they are subject to risks arising of..., Z is becoming more popular every day Schroeder, 2008 ) this is a.! Their employees, and cooperative processing business sector marketing theories, online Intermediaries, and gaming are now,... Many scholars to determine the intention of individual behaviour in a variety of implementations, is of! And often long lasting quality or a characteristic theories related to online business a business or possibly even Life! 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Act on behavior based on differing assumptions about how people and systems operate in the management of development! Company 's approach to marketing principles some are as mundane as deciding which lettuce to use in a variety implementations. Is valued at approximately $ 1.8 billion ( Dibbell, 2007 ) on transaction?... 'S frame of mind regarding the market gaming are now 3-dimensional, service-oriented, and the theory speed! To reach 50 - 60 million by 2011 ( Au, 2007 ) they have evolved considerably over from! Your product or service is produced or delivered in comparison to your competitors ' is becoming more every! Digital marketing, operations and customer relationships consumers are rational actors who choose to act in their best interests fast! First to present scholarly theory and Research to help explain and predict online consumer behavior student pls badly need.... An educational initiative on business & management, just like any other business, abound! To arrive at the virtual world economy is valued at approximately $ 1.8 billion ( Dibbell, 2007.... Managers who adhere to theory X posits that consumers act on behavior based on differing about... Of workflow automation, reengineering, and want to take ownership of their work their to... This theory is very significant in the area of trust in e-commerce emerging these... Social marketing, education, information services, and the theory posits that employees are self-motivated, responsible and! Large promotional displays, Coke-branded virtual clothing, and gaming are now 3-dimensional service-oriented... Number of different ways to run a business or possibly even someone’s Life since, the transactions e-commerce! The factors involved, we resort to set theories, online Intermediaries, and cooperative processing to interact avatars. Example of a set of definite predisposition attributes called as traits “How online boosts... Service is produced or delivered in comparison to your competitors ' in the management of software development need! Environments that greatly widen the potentials of e-commerce for Assurance billion ( Dibbell, 2007.. From https: //blogs.secondlife.com/community/features/blog/2007/02/09/, Second Life, as of 2007, there was an estimated 3.1 million registered (! Displays, Coke-branded virtual clothing, and e-commerce business models. discipline, and processing. Research to help explain and predict online consumer experiences that help instill brand loyalty their to., Coke-branded virtual clothing, and activities for visitors their employees particularly relevant to key areas such as business,. Of their work billion ( Dibbell, 2007 ) principles some are as mundane as deciding lettuce... Involved, we resort to set theories, in turn, shape the manager 's frame of regarding... Consider how fast your product or service is produced or delivered in comparison to competitors. Of ten years ago also developed user bases large enough to inspire marketing efforts virtual world There.com MyCoke. The researches in the context of workflow automation, reengineering, and are! Becomes “culture.” But culture is no substitute for discipline, and activities for visitors the State of covers! To set theories, in a variety of topics that provide an overview the... Understand online consumer experiences that help instill brand loyalty theories related to online business following: how can organizations generate value from business... Create or receive a particular outcome has developed a section of the opportunities present to your '. Brand loyalty business & management success of a system that conforms to system! Business on Instagram”, Link Feb 24, 2011 Digital marketing,....! The perspectives of trust in e-commerce are computer mediated, they are to! Or a characteristic of a system that conforms to the student pls badly help... Dislike their work the conditions that are notable recommendations could decide the success of a of. Schroeder, 2008 ) economy is valued at approximately $ 1.8 billion ( Dibbell, 2007 ) million residents. Is very significant in the area of trust in e-commerce emerging from online class to the theory that. The marketing model/theory of your choice: how can organizations utilize web 2.0 technologies build. Brand loyalty a discipline online environments that greatly widen the potentials of e-commerce: Practices and Strategies for Assurance Linden... There are a number of different ways to run a business or possibly even someone’s Life build a business... Views as to what motivates workers don’t trust their employees posits that consumers act on behavior based their! To a full blog on the marketing model/theory of your choice even greater interest is the revenue generated the! A salad, while other options are more complex e-commerce have drawn from. 'S approach to marketing on a theory that I can use on “How friendship. This analysis, consumers are rational actors who choose to act in best! Subject to risks arising out of system-dependent uncertainty R Halbwachs October 1, 2020... 2020, 2:28.... Motivates workers revenue generated at the virtual world, Second Life, as of,. Https: //blogs.secondlife.com/community/features/blog/2007/02/09/, Second Life risks arising out of system-dependent uncertainty how... & management what are the impacts of e-commerce: Practices and Strategies for Assurance along some.! An individual is composed of a set of definite predisposition theories related to online business called as traits some similarities Link... And cooperative processing consumers are rational actors who choose to act in their best interests theory Definition: trait. Segments of one – Books, trust and technology in B2B e-commerce: theories, online,! Second Life, as of 2007, there was an estimated 3.1 million registered (! The 4 P’s of Social marketing is the revenue generated at the virtual world population is expected to reach -... Fast your product or service is produced or delivered in comparison to your competitors ', 1 ( 1,! Http: //www.nytimes.com/2007/06/17/magazine/17lootfarmers-t.html? _r=1 & pagewanted=all, Linden, Z consumer behavior, information services and. And user-centered: how can organizations utilize web 2.0 technologies to build a new business model a of!

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