Future IT trends Essay Example | Topics and Well Written Essays - 2000 words

Future IT trends - Essay Example I have divided my explanation into two large segments, which first describe the importance of the concept and second describe the roles of the concept. I discover that E-Business and E-Commerce have significant and increasing importance toward local and global business and their roles are receiving tremendous support from various private and government entities throughout the world and continue to grow. Within my line of work, you could say that I have great needs over the internet. It is my real-time business communication tool, my promotional utility, my library and even my personal advisor. Today, the internet has been an inseparable part of business. Most of us have heard the terms E-Business and E-commerce. But to what extent do we understand the concept and its role to the business community In my previous study of the subject, I discovered that I know a lot less then I had believed. Within this essay, I will describe how I learn about E-Business and E-Commerce and their role within the world of business. As I surf down the internet, I found that E-Business and E-Commerce are actually parts of the concept 'Information Technology'. The term information technology generally refers to the hardware and software used to store, retrieve and manipulate information. It is an operating system that generally consist of servers, databases, web serving software ('Definition of information technology', 2005). Both terms (E-Business and E-Commerce), are likely to be mixed-up and used interchangeably over everyday conversations, while in fact, the term E-Business has a slight broader meaning than E-Commerce. E-Commerce refers to the activities of buying and selling products or services trough the internet. E-Business, on the other hand, refers to the conduct of business on the internet, which consist of not only buying selling, but also servicing customers and collaborating with business partners ('E-Business Definition', 2005). Next, I will describe what I have learned from various sources of information. The elaboration would describe how the world of business admits the growing importance of E-Business and E-Commerce, and also include discussion of several roles of E-Business and E-Commerce in local as well as global business environments. II. The Importance of E-Business and E-Commerce II.1 Choice of Embarking on E-Business My basic understanding of why people are embarking on the E-Business can be elaborated trough these corporate websites. In its webpage, Solutions Consultant describes, that the choice of having a company website or not is not a technology decision. It is a business decision. The decision is a strategic management movement to ensure future development of a company ('E-Business Overview', 2004). There are actually several common reasons why the trend is so quickly developed. Large companies launch a web site as an extra marketing channel to increase sales, but we don't actually have to sell anything to benefit from the internet. For example, I've learned that factories in different parts of the world use the internet to trade important information almost instantly. Overall, I learned that the internet is a form of competitive advantage that could be developed to safe and produce millions of dollars for companies who know how to properly take