Issue in Electronic Commerce
1.0 INTRODUCTION
Information technology (IT) is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications.The term in its modern sense first appeared in a 1958 article published in the Harvard Business Review, in which authors Leavitt and Whisler commented that “the new technology does not yet have a single established name. We shall call it information technology.”
IT is the area of managing technology and spans wide variety of areas that include but are not limited to things such as processes,computer software, information systems, computer hardware,programming languages, and data constructs. In short, anything that renders data, information or perceived knowledge in any visual format whatsoever, via any multimedia distribution mechanism, is considered part of the domain space known as Information Technology (IT).
IT professionals perform a variety of functions (IT Disciplines/Competencies) that range from installing applications to designing complex computer networks and information databases. A few of the duties that IT professionals perform may include data management, networking, engineering computer hardware, database and software design, as well as management and administration of entire systems. Information technology is starting to spread farther than the conventional personal computer and network technology, and more into integrations of other technologies such as the use of cell phones, televisions, automobiles, and more, which is increasing the demand for such jobs.
2.0 DEFINITION
2.01 What is e-Commerce?
e-Commerce refers to the exchange of goods and services over the Internet. All major retail brands have an online presence, and many brands have no associated bricks and mortar presence. However, e-Commerce also applies to business to business transactions, for example, between manufacturers and suppliers or distributors.
In the online retail space, there are a number of models that retailers can adopt. Traditionally, the Web presence has been kept distinct from the bricks and mortar presence, so transactions were limited to buying online and delivering the goods or services. The online presence is also important for researching a product that a customer can purchase later in the store. Recently, there has been a trend towards multi-channel retail, allowing new models such as purchasing online and picking up in store.
e-Commerce systems are also relevant for the services industry. For example, online banking and brokerage services allow customers to retrieve bank statements online, transfer funds, pay credit card bills, apply for and receive approval for a new mortgage, buy and sell securities, and get financial guidance and information.