ITM 350 Chapter Notes - Chapter 2: Software Agent, Infomediary, Web Banner

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 350
• Professor: Franklyn Prescod

Document Summary

Chapter 2 internet business models and strategies. Business model is the manner in which a business organizes itself to achieve its objectives, which normally involve the generation of profits: there are 8 components that make up the business model (more details on pg 23) Internet business model is the use of the internet to support, amplify or develop an overall business model. Ebusiness strategy is the sum of all the choices that a business makes to offer unique value to its customers that differentiates it business model from those of its competitors. B2b represent a much higher proportion of ebusiness activities conducted in the economy. & often involve multi-year, large-volume, high-value contracts between business partners (ex. on pg 26) Reverse auction has 1 buyer offering a supply contract to many sellers, who compete by bidding down the supply price for the contract.