LN3A_Web_SocialMedia_Ecommerce_EmergingTrends - MGCR 331...

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MGCR 331 – Information Systems (“IT Impacts on Organizations”) Web and Social Media, E-commerce and Emerging Trends Lecture Note 3 – PART A (This lecture note is divided into two parts: A and B) [Part B covers e-Commerce concepts] LEARNING OBJECTIVES 1. Describe the various technologies, applications, and websites that fall under the umbrella of Web 2.0 Blogs Wikis Social Networks Twitter (Microblogging) RSS, social tagging, Mashups, Virtual Worlds 2. Understand how companies are using wisdom of the crowds 3. Describe e-commerce and understand how businesses use Internet and network technologies to support their business activities. NOTE: This lecture note is primarily a reproduction of the “technology and strategy” chapter from Professor John Gallaugher’s ( [email protected] ) forthcoming book “Information Systems: A Manager’s Guide to Harnessing Technology. Summary Networks in general, and the Internet in particular, have fundamentally altered the way we do business and the way we live. Internet technologies support new ways of doing business. They affect all functions of the business organization, from marketing, to supply chain management, to customer service, to human resource management. In this lecture note we discuss how consumers and businesses are using Internet technologies and applications, such as web 2.0, to interact with each other. We will also discuss how businesses are using the Internet and related technologies, to buy, sell and exchange goods and services (a practice referred to as e- Commerce). We will discuss the benefits and risks of e-commerce, and various e-commerce business models. 1
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INTRODUCTION Over the past few years a fundamentally different class of Internet services has attracted users, made headlines, and increasingly garnered breathtaking market valuations. Often referred to under the umbrella term “Web 2.0”, these new services are targeted at harnessing the power of the Internet to empower users to collaborate, create resources, and share information in a distinctly different way than the static websites and transaction-focused storefronts that characterized so many failures in the dot com bubble. Blogs, wikis, social networks, photo and video sharing sites, and tagging systems all fall under the Web 2.0 moniker, as do a host of supporting technologies and related efforts. The term Web 2.0 is a tricky one because like so many popular technology terms, there’s not a precise definition. Coined by publisher and pundit Tim O’Reilly in 2003, techies often joust over the breadth of the Web 2.0 umbrella and over whether Web 2.0 is something new, or simply an extension of technologies that have existed since the creation of the Internet. These arguments aren’t really all that important. What is significant is how quickly the Web 2.0 revolution came about, how unexpected it was, and how deeply impactful these efforts have become. To underscore the speed with which Web 2.0 arrived on the scene, and the impact of leading
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LN3A_Web_SocialMedia_Ecommerce_EmergingTrends - MGCR 331...

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