Abstract

Information technology is the greatest wonder of the world. It started in America in 1947 with the invention of the transistor. The computer was invented at Pennsylvania University in 1946. First the computer was known as Electronic Numerical integrator and computer. The ENIAC had so many problems, but the invention of the transistor removed all of them. Silicon Valley is the most important name in the development of information Technology. The area of Silicon Valley in America near Sanfrasisco. Because of the substance silicon used in the transistor, it was named so and soon became very famous. The next millennium seems to challenge managers at all levels to gain strategic advantage over their competitors. This competitive edge is a gift of Electronic Commerce as now organizations can buy, sell, support product&services & even make payments on the Internet. Everything in today's world is electronised whether it is sending message (E-main) or exchanging business documents (EDI) or naking payments (EFT) or sending letters (E-Stamp). All these have enabled E-commerce to have direct computer to computer link between customers & organizations & organizations & suppliers. Electronic commerce has linked organizations to suppliers as well as within organization for faster and efficient transaction processing and decision making thus enabling to from unbeatable powerful virtual teams. Once upon a time not so long ago, a consumer had ample time to go from store to store to locate the desired item, followed by bargaining, placing an order and finally getting the supply. This entire process could range from a few hours to weeks depending on the product, quantity, quality and source of purchase. But the entire scenario has changed. Everything in today's world is electronised whether it is EDI (Electronic Data Interchange), EFT (Electronic Funds Transfer). E-Cash (Electronic Cash), E-Stamp (Electronic Stamp), E-mail (Electronic Mail), E-Business (Electronic Business and) E-Commerce (Electronic Commerce).

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