If businesspeople from the early 1900s had been able to look ahead and foresee the 21st century corporate landscape, it's likely they would have been amazed by the role information plays in today's economy. Not only does the world rely more heavily on information than ever before, the speed at which it must travel and the ways in which it must be organized and accessed are critical. …
As e-commerce became all the rage in the late 1990s and as the Internet, World Wide Web, and other information technologies rapidly transformed the economic and social environment, many analysts, journalists, and scholars took the time to reflect upon the current transformations and breakthroughs and situate them in a broad, historical context. The fruit of these labors was the conception of the c…
Information technology (IT) broadly describes the processing and management of data in computer systems. Within IT's wide parameters are the hardware (including hard drives, modems, monitors, servers, mainframe systems, and routers) and software (word processing and spreadsheet programs, Web browsers, and databases) that make the movement, manipulation, and storage of information possible. …
Information theory posits that information is simply data that reduces the level of uncertainty on a given subject or problem, and can be quantified by the extent to which uncertainty is diminished. More importantly for the practical uses of information theory, however, is that it fits the concept of information and communication into mathematical theory. All content, no matter what its form-music…
An initial public offering (IPO) takes place when a privately held company goes public and makes its first offering of shares to the public. It is a significant stage in the growth of a business. It provides the business with access to capital, not only through the IPO, but also through subsequent secondary stock offerings. For the company's founders and venture capital backers, an IPO can …
Inktomi Corp. was founded in 1996 by Eric A. Brewer and Paul Gauthier. Just six years later, with annual sales reaching $223.5 million, Inktomi had secured a leading position among search engine technology providers. By 2001, the firm's partner and customer base included the likes of America Online Inc. (AOL), Ameritech, Cisco Systems, Compaq Computer Corp., Intel Corp., Microsoft Corp., Su…
As a relatively new way of conducting business, e-commerce itself is a technological innovation. Within the e-commerce industry are also multiple and varied examples of businesses using innovative ideas to attract new customers and increase sales. For example, the decision by Lands' End Inc. to add to its World Wide Web site "Your Personal Model," an application that allows us…
Instill Corp. offers e-commerce technology and services that streamline the supply chain processes—including procurement, tracking and analysis, and demand forecasting—used by businesses of the $376 billion food service industry. Clients in the early 2000s included Applebee's Neighborhood Bar & Grill, Bon Appetit, Delaware North Companies, Fine Host Corp., Five Star, Ha…
Instinet Group is the oldest and largest of the electronic communication networks (ECNs), privately owned systems that post the buy and sell prices of stock. Unlike traditional institutional stock brokers, Instinet uses an Internet-based electronic platform to match stock buyers and sellers and to process transactions instantaneously. Rather than purchasing large chunks of stocks and holding on t…
In the corporate world, companies possess many different tangible assets with real marketplace value. Real estate, office equipment, office furniture, computers, cash, and accounts receivable are assets that, if necessary, can be exchanged in trade or used to pay off debts. Assets like these normally carry established market values, which vary depending on different economic and geographic factors…
Connectivity is a main element of e-commerce. It is a requirement for engaging in electronic transactions between two or more parties, be they businesses or consumers. However, companies that excel at e-commerce do more than simply connect with customers, suppliers, and other business partners; they find ways to integrate the many different computer systems and databases that are part of their ope…
The world's largest maker of microprocessors, Santa Clara, California-based Intel Corp. also is one of the five most profitable manufacturing companies of any business sector. In 2000, the firm posted earnings of $10.5 billion on revenues of $33.7 billion. Although Intel spent considerable effort attempting to move into new markets—such as communications and networking equipment and …
The term intellectual capital defines a range of intangible assets that a company possesses alongside its physical and financial assets but which can't be quantified in the same manner. Among these are the intellectual property and patents claimed by the firm; its employees' and managers' collective knowledge about their products and services and about the way the firm and its…
Few fields of law faced more rapid transformation from the effects of Internet and e-commerce than the realm of intellectual property. Intellectual property (IP) is considered to be the intangible result of intellectual work, such as inventions, literary and artistic works, and commercial symbols, names, images, and designs. Advances in communication and information technology have dramatically a…
Intelligent agents are a member of the bot family—software programs that operate unattended, usually on the Internet. Therefore, agents are sometimes referred to as bots. Individuals or organizations use intelligent agents to perform functions or tasks that otherwise would involve human interaction or repetition. Operating independently on behalf of their users, some intelligent agents mim…
The vast majority of financial transactions that happen during e-commerce involve credit cards, especially those between consumers and companies that sell goods and services. The credit cards that consumers use are issued by one of many different card-issuing banks throughout the world, to which one must apply and be approved before receiving a card. In general, when credit cards are used to make …
The International Chamber of Commerce (ICC), also known as the world business organization, was founded in 1919 to promote peace among countries through trade and prosperity. The ICC grew throughout the century to become the leading body of representation for enterprises around the globe. Its rules and guidelines, while being voluntary, govern international business actions and have become a stand…
With more than 45 offices worldwide, roughly 800 employees, and sales of approximately $150 million, International Data Corp. (IDC) is an information technology (IT) market research, analysis, and consulting leader. The firm's wide ranging research covers all aspects of the IT industry, including operating systems, PCs, peripheral equipment, semiconductors, software, services, telecommunica…
The International Telecommunications Union dates back to 1865, when 20 countries jointly signed the framework agreement at the International Telegraph Convention, establishing common rules and standard equipment for transmitting telegraph messages across international lines. The International Telegraph Union was launched to provide a forum to turn this agreement into a living framework through the…
An online network linking million of computers throughout the world, the Internet is used by millions of people for things like research, communication, and commerce transactions. Via technology that spawned the "information age," the Internet has become a tool millions of individuals employ every day for professional, educational, and personal exchanges. As the Internet's pop…
Tracking the growth of Internet access has become increasingly popular as the Web continues to evolve into a tool for gathering information, communication, marketing, and commerce. According to NUA Internet Surveys, the number of people online increased to 513.41 million in August 2001. Africa accounted for 4.15 million online users. The Asia/Pacific region had 143.99 million Web surfers. There we…
Generally speaking, infrastructures are the frameworks or architectures that systems are made of. For example, a nation's transportation infrastructure consists of roadways, railroads, airports, ocean ports, and rivers. Although not as visible to the naked eye, the Internet also has an infrastructure consisting of many different elements, each of which plays a critical role in the delivery …
In general, Internet metrics encompass a wide variety of measurements or assessments made on the Internet. These can be very broad measurements, applying to the traffic patterns and usage of the Internet as a whole; or they can apply specifically to an organization's Internet infrastructure, which might include the network connections, cables, workstation computers, servers (computers used …
Because they are widely used to pay for goods and services online, credit cards are an important part of e-commerce. According to Electronic Transfer Inc., analysts in the credit-card industry estimate that out of every four card holders, three use credit cards to place orders online. Just as consumers must apply to a card-issuing bank before they can receive and use a credit card, companies wishi…
Internet service providers (ISPs) provide access to the Internet through telephone dial-up connections as well as through permanent or "always-on" connections. As of 2001, businesses and consumers could choose from among an estimated 7,000 national, regional, or local ISPs. …