MGMT 345 1st Edition Lecture 8Outline of Last Lecture I. Excel Lab #3II. Excel Lab #4Outline of Current Lecture I. Excel #5 tipII. Friday the 13thIII. Electronic CommerceIV. 3 Languages Used to Link Websites with Backend DatabasesV. InventoryVI. Google’s Page Rank AlgorithmVII. EbayVIII. 4 States that Charge Internet Sales TaxCurrent Lecture:Excel #5 Tip:When submitting Excel Lab #5, don’t submit 8 separate Word documents of snapshots. Put all the snapshots into one Word document. If you don’t, this is an automatic 2 points off of 10. Friday the 13th :$800-$900 million are lost every Friday the 13th because consumers have a fear of going out on that particular date. Electronic Commerce:As of 2012 still only about 5% of commerce is online. Jack Ma started Alibaba.com and raised $25billion on the IPO. He sold some of his personal shares and raised $1.05 billion for himself. William Randolph Herst the 3rd said “borrow the money, hire the talent, and get rich.”Consumer to business- an example of this is kickstarterConsumer to consumer- ebay or craigslistThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Government to business- FINRA3 Languages Used to Link Websites with Backend Databases:-Java-Python-RubyInventory:2 types of inventory- raw materials and finished goods. Raw materials make it possible for mass customization to occur. (Ex. Eshakti.com or moderntailor.com) Chris Anderson of Wired Magazine says there is a “long tail” in ecommerce, which means that many small niches can be catered to. Google’s Page Rank Algorithm:Made $50 billion off of internet advertising in 2014. It uses 2 different programs : Ad Words and Ad Sense. Ad words strings together words and people pay per click on their site for being top of the searches. Adsense is embedded into a webpage and relative advertisements show up based on what that webpage is about. (ex. A website for a yoga studio and the ads that show up are for yoga mats. )Ebay:Pierre Omidyar created a back story of why he wanted to start Ebay so that investors would be more inclined to invest in his company. He made up the story that his sister needed a platform to buy and sell her PEZ dispensers, and that is why he wanted to make ebay. It is now a forward auction company, as well as a “second price” auction (the second highest bidwins.) If you play the last minute bidding game, you pay 88% more. 4 States that Charge Internet Sales