In this chapter, you learned how companies are now using the Web to do things that they have never done before, such as creating social networks, using mobile technologies to make sales and increase operational efficiency, operating auction sites, and conducting related businesses The Web's ability to bring together geographically dispersed people and organizations that share narrow interests has encouraged the development of virtual communities and social net- works. Businesses are creating online communities using social networking features that connect them to their customers and suppliers. A growing number of businesses are exploiting the mobile commerce opportunities presented by smart phones and tablet devices that have high bandwidth access to the Internet. As we enter the third wave of electronic commerce, individuals are using social networking sites, blogs, and micro blogging tools for personal and business related interactions. Companies are using internal social networking sites to communicate with employees and coordinate work across various organizational units
You learned about the key characteristics of the seven major auction types, and learned how firms are using online auctions to sell goods to their customers and buy from their suppliers Although some specially sites do conduct significant auction activities, the consumer online auction business is dominated by eBay, at least in the United States B2B auctions give companies a new and efficient way to dispose of excess inventory, and B2B reverse auctions provide an effective procurement tool under some conditions. A number of businesses offer ancillary services to Web users who participate in online auctions. These businesses include escrow services, auction directories and information sites, auction management software for both sellers and bidders, and auction consignment sites