ITM 350 Chapter Notes - Chapter 1-8: Utility Model, Legacy System, Management System

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

Document Summary

Business an entity providing product/service in exchange for money. Foundations of ebusiness: the internet and ebusiness are causing changes to business models, business models define how companies do business and make money, ebusiness models are impacted by, speed. The use of technology has changed the expectations of people regarding the time it takes to satisfy their needs. Expect fast turnarounds for requests when technology is involved: convenience. Online banking, don"t need to go to branch cutting their infrastructure costs, increasing their technology costs, adding new sources of revenue and making old sources of revenue obsolete: customization. Using internet together with integrated systems allows businesses to provide more customized products and services. Customizable dell computers: redefinition of product value. The ability of the internet to convey a variety of information, services, and other features has led to redefinitions of the product and service .