IT in Business and entrepreneurship PPt by: Deeksha sharma 2939 Navpreet kaur 2931 Kirti Group 9

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.

BUSINESS ENTREPRENEURSHIP

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 economic success . 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

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 to medicine.

E-Commerce

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 business.

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

Types Of e-Commerce

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 among businesses. 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).

Applications in Business

Document automation in supply chain and logistics Some common applications related to electronic commerce are the following: Document automation in supply chain and logistics Domestic and international Payment systems Enterprise content management Group buying Automated online assistants Instant messaging Newsgroups Online shopping and order tracking Online banking Online office suites Shopping cart software Teleconferencing Electronic tickets Social-networking

Examples

Ebay.com

eBay Inc. is an American multinational internet consumer-to-consumer 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 services.

Indian Railway Catering And Tourism Corporation 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. Online ticketing 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 I-tickets that are basically like regular tickets except that they are booked online and delivered by post. The tickets PNR status is also made available.

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