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To survive in today’s world of modern business, you must understand the basic concepts and speak the language. The CREC (Center for Research in Electronic Commerce) at the University of Texas has developed a conceptual framework for how the Internet economy works. The framework shows four layers of the Internet economy-the three mentioned above and a fourth called intermediaries (see Table 1).
If you have dreams of owning your own business then don’t let the idea that other businesses exist keep you from doing it. New concepts are always going to be welcome, tried out, and evaluated. But the great thing about the blend strategy is that you are not having to come up with something new, you are just taking two ideas that already exist and mixing them together to create something new.
The cloudâ€ is a friendly way of describing internet-based computing companies which might be hosted exterior of your group. Once you use cloud-based companies, your IT infrastructure resides off your property (off-premises), and is maintained by a third celebration (hosted), instead of residing on a server at your house or business (on-premises) that you keep. With Office 365, for example, data storage, computation, and software are situated and managed remotely on servers owned by Microsoft. Many providers you use every day are part of the cloudâ€”all the things from net-primarily based e-mail to cell banking and on-line picture storage. As a result of this infrastructure is positioned online or in the cloud,â€ you possibly can entry it just about anyplace, from a desktop, PC or Mac, laptop, pill, smartphone, or different machine with an Web connection.
Within Business Concepts we describe the most common analyses that you can run to solve case problems and that have been battle-tested in everyday practice (e.g. ABC analysis, benchmarking). In addition we clarify business terms or consultant lingo that you should know and be aware of. Knowing this will help you convince the interviewer even if you lack a business background.