ITM 350 Chapter Notes - Chapter 1: E-Commerce, Information Asymmetry, Transact

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 350
• Professor: Bharat Shah

Document Summary

Chapter 1 the revolution is just beginning. It involves the use of the internet, web, and mobile apps/browsers to transact business. It"s digitally enabled commercial transaction b/w and among organizations and individuals. The difference between e-commerce and e-business: e-business refers to the digital enabling of transactions and processes within a firm. It does(cid:374)"t i(cid:374)(cid:272)lude (cid:272)o(cid:373)(cid:373)er(cid:272)ial tra(cid:374)sa(cid:272)tio(cid:374)s i(cid:374)(cid:448)ol(cid:448)i(cid:374)g a(cid:374) e(cid:454)(cid:272)ha(cid:374)ge of (cid:448)alue across organizational boundaries: e-business applications turn into e-commerce when an exchange of value occurs. Technological building block underlying e-commerce: the inter, web, and mobile platform: the internet is a worldwide network of computer networks, the web is an info system that runs on the internet infrastructure. The deep web (cid:272)o(cid:374)tai(cid:374)s data(cid:271)ases a(cid:374)d other (cid:272)o(cid:374)te(cid:374)t that"s (cid:374)ot i(cid:374)de(cid:454)ed (cid:271)(cid:455) search engines like google: the mobile platform provides the ability to access the internet from mobile devices. Information asymmetry refers to any disparity in relevant market information among parties in a transaction.