WHAT IS I.T. ?
Essentially information technology is all about using
information as a commodity or resource, just like any other
job. The information that is being translated, disseminated,
stored, transmitted, etc. is usually in the forms of audio,
video, textual and numerical information and is processed
through the use of microelectronics and computers.
The field of Information Technology is usually used to describe
e a whole series of jobs, but in reality, there are tons of jobs
that are called Information Technology jobs, but are actual
part of a subcategory like Management Information Services
and Information Services.
In political economics, entrepreneurship is the quality of being an
entrepreneur, i.e. one who "undertakes an enterprise The term puts
emphasis on the risk and effort of individuals who own and manage a
business, and on the innovations that result from their pursuit of
An entrepreneur is
always in search of new challenges. An entrepreneur
is not a routine businessman
he might not have resources but he will have ideas.
He is innovative and creative.
He can convert a threat into an opportunity. Small
businessmen might shut-down
or change his business if he anticipates losses but
an entrepreneur will try again
after analyzing the situation. On the other hand an
entrepreneur can leave a
perfectly running business to start another venture
if he so desires.
I.T. IN BUSINESS
Information technology (IT) is the application of computers and
telecommunications equipment to store, retrieve, transmit and manipulate
data, often in the context of a business or other enterprise. The term is
commonly used as a synonym for computers and computer networks, but
it also encompasses other information distribution technologies such as
television and telephones. Several industries are associated with
information technology, such as computer hardware, software,
electronics, semiconductors, internet, telecom equipment, e-commerce
and computer services.
In a business context, the Information Technology Association of
America has defined information technology as "the study, design,
development, application, implementation, support or management of
computer-based information systems". The responsibilities of those
working in the field include network administration, software
development and installation, and the planning and management of an
organization's technology life cycle, by which hardware and software is
maintained, upgraded and replaced.
Accounting is an information science used to collect, classify,
and manipulate financial data for organizations and individuals.
Accounting is instrumental within organizations as a means of
determining financial stability. Accountants are responsible for
determining an organization’s overall wealth, profitability, and
liquidity. Without accounting, organizations would have no
basis or foundation upon which daily and long-term decisions
could be made. The budgets for marketing activities, profit
reinvestment, research and development, and company growth
all stem from the work of accountants. Accounting is one of the
oldest and most respected professions in the world, and
accountants can be found in every industry from entertainment
Electronic commerce, commonly known as e-commerce or
eCommerce, is a type of industry where the buying and selling of
products or services is conducted over electronic systems such as the
Internet and other computer networks.
• Electronic commerce draws on technologies such as mobile
commerce, electronic funds transfer, supply chain management,
Internet marketing, online transaction processing, electronic data
interchange (EDI), inventory management systems, and automated
data collection systems.
• Modern electronic commerce typically uses the World Wide Web
at least at one point in the transaction's life-cycle, although it may
encompass a wider range of technologies such as e-mail, mobile
devices social media, and telephones as well.
• Electronic commerce is generally considered to be the sales aspect
of e-business. It also consists of the exchange of data to facilitate the
financing and payment aspects of business transactions. This is an
effective and efficient way of communicating within an organization
and one of the most effective and useful ways of conducting
E-commerce can be divided into:
• E-tailing or "virtual storefronts" on websites with online catalogs,
sometimes gathered into a "virtual mall"
• Buying or Selling on various websites and/or online marketplaces
• The gathering and use of demographic data through Web contacts
and social media
• Electronic Data Interchange (EDI), the business-to-business
exchange of data
• E-mail and fax and their use as media for reaching prospective
and established customers (for example, with newsletters)
• Business-to-business buying and selling
• The security of business transactions
• Business-to-Business (B2B):
B2B e-commerce is simply defined as e-commerce between companies.
This is the type of e-commerce that deals with relationships between and
• Business-to-Consumer (B2C):
Business-to-consumer e-commerce, or commerce between companies and
consumers, involves customers gathering information; purchasing
physical goods (i.e., tangibles such as books or consumer products) or
information goods (or goods of electronic material or digitized content,
such as software, or e-books); and, for information goods, receiving
products over an electronic network. It is the second largest and the
earliest form of e-commerce.
• Business-to-Government (B2G):
Business-to-government e-commerce or B2G is generally defined as
commerce between companies and the public sector. It refers to the use
of the Internet for public procurement, licensing procedures, and other
government-related operations. This kind of e-commerce has two
features: first, the public sector assumes a pilot/leading role in
establishing e-commerce; and second, it is assumed that the public sector
has the greatest need for making its procurement system more effective.
• Consumer-to-Consumer (C2C):
Consumer-to-consumer e-commerce or C2C is simply
commerce between private individuals or consumers. This
type of e-commerce is characterized by the growth of
electronic marketplaces and online auctions, particularly in
vertical industries where firms/businesses can bid for what
they want from among multiple suppliers. It perhaps has the
greatest potential for developing new markets.
• Mobile Commerce (m-commerce):
M-commerce (mobile commerce) is the buying and selling of
goods and services through wireless technology-i.e.,
handheld devices such as cellular telephones and personal
digital assistants (PDAs).
Some common applications related to electronic commerce are the
Document automation in supply chain and logistics
Domestic and international Payment systems
Enterprise content management
Automated online assistants
Online shopping and order tracking
Online office suites
Shopping cart software
eBay Inc. is an American multinational internet consumer-toconsumer corporation, headquartered in San Jose, California. It
was founded in 1995, and became a notable success story of the
dot-com bubble; it is now a multi-billion dollar business with
operations localized in over thirty countries.The company
manages eBay.com, an online auction and shopping website in
which people and businesses buy and sell a broad variety of
goods and services worldwide. In addition to its auction-style
sellings, the website has since expanded to include "Buy It
Now" standard shopping; shopping by UPC, ISBN, or other
kind of SKU (via Half.com); online classified advertisements
(via Kijiji or eBay Classifieds); online event ticket trading (via
StubHub); online money transfers (via PayPal) and other
Indian Railway Catering and Tourism Corporation, abbreviated to
IRCTC, is a subsidiary of the Indian Railways that handles the catering,
tourism and online ticketing operations of the railways.
IRCTC is known for changing the face of railway ticketing in India. It
pioneered internet-based rail ticket booking through its website, as
well as from the mobile phones via GPRS or SMS. Ticket cancellations
can also be done online. In addition to e-tickets, IRCTC also offers Itickets that are basically like regular tickets except that they are
booked online and delivered by post. The tickets PNR status is also