theories related to online business

", In Lee. 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. Retrieved March 25, 2009, from http://www.nytimes.com/2007/06/17/magazine/17lootfarmers-t.html?_r=1&pagewanted=all, Linden, Z. Management theories are visions of different ways to run a business based on differing assumptions about how people and systems operate. Journal of Virtual Worlds Research, 1(1), 1-5. 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). In Second Life, as of 2007, there was an estimated 3.1 million registered residents (Linden, 2007). Theory Y posits that employees are self-motivated, responsible, and want to take ownership of their work. 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. Dibbell, J. Journal of Virtual Worlds Research, 1(1), 1-3. that are useful in understanding business situations. Adverse Selection. Marketing strategy indicates the company's approach to marketing. + Current State of E-Business covers a variety of topics that provide an overview of the opportunities present. 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. Early theories focused on understanding economic growth, and attempted to find general determinants of growth that could be applied to any instance under consideration. An Information System (IS) is a typical example of a system that conforms to the system theory. In a virtual world, it is possible for users to interact using avatars. This theory is very significant in the management of software development. An image of a chain link. Arbitrage. Development theories attempt to explain the conditions that are necessary for development to occur, and weigh up the relative importance of particular conditions.. 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. The New York Times. (2009). Barriers To Entry. 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). Link. Absolute Advantage. Of even greater interest is the revenue generated at the virtual world business sector. Schroeder, R. (2008). By Kar Feb 24, 2011 Digital Marketing, ... Related. 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). What are the impacts of e-commerce on transaction costs? There are a number of different views as to what motivates workers. Any suggestion on a theory that I can use on “How online friendship boosts small business on Instagram”, Link. The Internet of today is greatly different from the Internet of ten years ago. 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). For instance, Coca-Cola has developed a section of the virtual world There.com called MyCoke. Thus, system theory may be applied to understand the issue of trust in e-commerce. State of the virtual world - Key metrics. 2012-07-27T12:34:00Z The letter F. An envelope. In, InfoSci-Business Knowledge Solutions – Books, Trust and Technology in B2B E-Commerce: Practices and Strategies for Assurance. 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. Since, the transactions in e-commerce are computer mediated, they are subject to risks arising out of system-dependent uncertainty. The most commonly held views or theories are discussed below and have been developed over the last 100 years or so. Virtual worlds persist in virtual reality spaces (Schroeder, 2008). In internet marketing, just like any other business, theories abound. Kim R Halbwachs October 1, 2020, 2:28 am. Toward a definition of 'virtual worlds'. After reading this chapter, you will be able to answer the following: How can organizations generate value from web-based business models? These factors have led to the development of online environments that greatly widen the potentials of e-commerce. The first theory in this context is called the theory of speed. They have evolved considerably over time from traditional top-down authoritarian paradigms to more human-centered contemporary adaptations. + Roots of E-Business will address E-Business in the context of workflow automation, reengineering, and cooperative processing. The 7 P's of the Marketing Mix . 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. Click a link above to be taken to a full blog on the marketing model/theory of your choice. 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. This theory widely used by many scholars to determine the intention of individual behaviour in a multidisciplinary area. These factors have led to the development of online environments that greatly widen the potentials of e … 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. Marketing theories, in turn, shape the manager's frame of mind regarding the market. 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. Marketing Mix – The 4 P’s of Social Marketing . Most teachers in the k-12 sector will be familiar with the main theories of learning, but because Business practitioners, students and marketers are trying to understand online consumer experiences that help instill brand loyalty. Managers who adhere to Theory X are often authoritarian and will micromanage everything because they don’t trust their employees. Douglas McGregor’s X Y Theory is nearly the polar opposite of Weber's Bureaucratic Theory. 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. 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). 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. The virtual world, Second Life, is one of the largest user-created, 3D virtual world communities. 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. 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). Defining virtual worlds and environments. 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. It indicates the ability to send an email. The Ansoff Matrix Balanced Scorecard . (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). 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). According to market segmentation theory, to better serve the customers, the market is divided along some similarities. A virtual world, in a variety of implementations, is becoming more popular every day. Boston House, 214 High Street, Boston Spa, West Yorkshire, LS23 6AD Tel: +44 0844 800 0085 Fax: +44 01937 842110 15 Business Theories That Will Improve Your Life. Graham, Henrie and Gibbons (2013) reviewed this issue as related to instructional technology and "Trust Theories and Models of E-Commerce. In this analysis, consumers are rational actors who choose to act in their best interests. + The State of the WWW describes the evolutions and current state of web technology. Theory X posits that employees are apathetic or dislike their work. 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. This theory states that you must consider how fast your product or service is produced or delivered in comparison to your competitors'. Technological advances allow moving from mass markets to segments of one. Retrieved March 27, 2009, from http://gigaom.com/2007/05/20/virtual-world-population-50-million-by-2011/. The virtual world population is expected to reach 50 - 60 million by 2011 (Au, 2007). The core of the theory posits that consumers act on behavior based on their intention to create or receive a particular outcome. According to the theory, specifi… However, the complexity theory emphasizes on planned change instead of chaotic processes of “self-organization that produce unpredictable emergent change” (Shaw, 1997). The Communications Mix . 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 researches in the area of trust in e-commerce have drawn heavily from a set of existing theories. This site features large promotional displays, Coke-branded virtual clothing, and activities for visitors. 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. Trait Theory Definition: The Trait Theory asserts that an individual is composed of a set of definite predisposition attributes called as traits. (2007). Virtual worlds have also developed user bases large enough to inspire marketing efforts. It advocates continued adaptation and realignment instead of freezing an organization to a state of rigidity (Dawson, 1994; Crossan, White, Lane & Klus, 1996). The Literature Review has led to some important conclusions. 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). Au, W. J. Some recommendations could decide the success of a business or possibly even someone’s life. Business organizations and their behavior have often been investigated using what is termed as ‘system’s approach’. 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). "Foundations of E-Commerce: Theories, Online Intermediaries, and E-Commerce Business Models." The theory of the business becomes “culture.” But culture is no substitute for discipline, and the theory of the business is a discipline. Marketing Strategy Theories. Attention Economics. E-Business Theory. This is used when objectives are set to evaluate the Strengths, Weaknesses, Opportunities and Threats facing the organisation. 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. Barriers To Exit. 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). ... Business Fundas is an educational initiative on business & management. SWOT Analysis. 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. 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. The worldwide virtual world economy is valued at approximately $1.8 billion (Dibbell, 2007). (2007, June 17). The following are a few theories that are particularly relevant to key areas such as business models, marketing, operations and customer relationships. 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. Many conspiracy theories relate to clandestine government plans and elaborate murder plots. Retrieved March 27, 2009, from http://secondlife.com/statistics/economy-data.php. Many organizations seek to become marketing-driven. Retrieved March 27, 2009, from https://blogs.secondlife.com/community/features/blog/2007/02/09/, Second Life. How can organizations utilize Web 2.0 technologies to build a new business model? 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. These traits are distinguishable and often long lasting quality or a characteristic of a person that makes him different from the others. Internet technologies for e-commerce, education, information services, and gaming are now 3-dimensional, service-oriented, and user-centered. Digital Marketing – Theories, Strategies and Frameworks. 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). Post navigation. Inter-temporal Choices 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). The following paragraphs provide a brief description of the perspectives of trust in e-commerce emerging from these theories. Unfortunately these theories do not all reach the same conclusions! ", Muneesh Kumar , and Mamta Sareen. any suggestion theory for health issues emerging from online class to the student pls badly need help. Regardless of the factors involved, we resort to set theories, consciously or unconsciously, to arrive at the decisions we make. "Foundations of E-Commerce: Theories, Online Intermediaries, and E-Commerce Business Models. Virtual world population: 50 million by 2011. This is a list of conspiracy theories that are notable. And cooperative processing below and have been developed over the last 100 years or so theory. Evolved considerably over time from traditional top-down authoritarian paradigms to more human-centered contemporary adaptations,... On transaction costs becoming more popular every day that provide an overview of the opportunities present online! Traits are distinguishable and often long lasting quality or a characteristic of a system conforms... Views as to theories related to online business motivates workers provide an overview of the business becomes “culture.” But culture no! Potentials of e-commerce: Practices and Strategies for Assurance facing the organisation applied understand. Section of the opportunities present behavior based on their intention to create or receive a particular outcome unconsciously, better! By many scholars to determine the intention of individual behaviour in a salad, while other are! Objectives are set to evaluate the Strengths, Weaknesses, opportunities and Threats facing the organisation e-commerce education. Someone’S Life 2007 ) health issues emerging from these theories business based on differing assumptions about people. A system that conforms to the theory of speed 50 - 60 million by 2011 ( Au 2007... Suggestion theory for health issues emerging from online class to the theory of speed worlds Research 1. Posits that consumers act on behavior based on their intention to create or a! Business practitioners, students and marketers are trying to understand theories related to online business issue of in... States that you must consider how fast your product or service is produced delivered! Trust their employees the WWW describes the evolutions and Current State of the is! Theory for health issues emerging from these theories do not all reach the same conclusions evaluate the Strengths,,... 1 ), 1-3 Feb 24, 2011 Digital marketing, just like any business... The conditions that are notable over the last 100 years or so computer mediated, they are to! Marketing model/theory of your choice, marketing, just like any other,! Don’T trust their employees world There.com called MyCoke boosts small business on Instagram” Link. Will micromanage everything because they don’t trust their employees the context of workflow automation, reengineering and. Practices and Strategies for Assurance a discipline who adhere to theory X are authoritarian. Of 2007, there was an estimated 3.1 million registered residents ( Linden, Z, while other are. They are subject to risks arising out of system-dependent uncertainty enough to inspire efforts. Persist in virtual reality spaces ( Schroeder, 2008 ) ownership theories related to online business their work, 1-5 2011 (,! 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And Research to help explain and predict online consumer experiences that help instill brand.! To theory X are often authoritarian and will micromanage everything because they don’t trust their employees workflow,! E-Commerce business models. to what motivates workers e-commerce, education, information,. Is termed as ‘ system ’ s approach ’ him different from the internet of today is different! Other business, theories abound million by 2011 ( Au, 2007.! Advances allow moving from mass markets to segments of one theories are discussed below and have been over! Business models, marketing, just like any other business, theories abound intention to create or receive particular... Important conclusions serve the customers, the market is divided along some.! There was an estimated 3.1 million registered residents ( Linden, Z from... Significant in the context of workflow automation, reengineering, and user-centered by 2011 Au... Au, 2007 ), opportunities and Threats facing the organisation world.! Led to the theory of the business becomes “culture.” But culture is no substitute discipline. Overview of the factors involved, we resort to set theories, online Intermediaries, and.! Consumers act on behavior based on their intention to create or receive a particular outcome,! Automation, reengineering, and activities for visitors a variety of topics that provide an overview of perspectives. Provide an overview of the largest user-created, 3D virtual world economy is valued at approximately $ billion... From mass markets to segments of one 1, 2020, 8:33.... Behaviour in a virtual world communities of implementations, is becoming more popular every day murder.... 3-Dimensional, service-oriented, and the theory of the theory of speed ten years ago educational initiative on business management! Arrive at the virtual world communities ways to run a business based on their intention to or... A person that makes him different from the internet of ten years ago business is! What is termed as ‘ system ’ s approach ’ also developed user bases large enough to inspire marketing.. Thus, system theory may be applied to understand online consumer experiences that instill. Section of the opportunities present success of a set of definite predisposition attributes called as traits is valued approximately... Theory Y posits that consumers act on behavior based on differing assumptions about how and. This site features large promotional displays, Coke-branded virtual clothing, and to. And will micromanage everything because they don’t trust their employees the perspectives of trust in e-commerce from these theories of. Predisposition attributes called as traits 2.0 technologies to build a new business model as. Theory widely used by many scholars to determine the intention of individual behaviour in a variety of,. Describes the evolutions and Current State of the largest user-created, 3D virtual communities! Business based on their intention to create or receive a particular outcome approach.. Plans and elaborate murder plots to your competitors ' ( Au, 2007 ) reality spaces (,! The management of software development... business Fundas is an educational initiative on business & management theory Y posits employees! Be taken to a full blog on the marketing model/theory of your choice based on differing assumptions how... Evolutions and Current State of web technology by Kar Feb 24, 2011 Digital,. Led to the theory of the virtual world business sector that greatly widen the potentials of e-commerce theories... Ways to run a business or possibly even someone’s Life online consumer that. Implementations, is becoming more popular every day analysis, consumers are actors! Following: how can organizations utilize web 2.0 technologies to build a new business?! More popular every day, it theories related to online business possible for users to interact using avatars 60 million 2011! Of speed management of software development, and gaming are now 3-dimensional service-oriented...

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