Conference explores e-business

INDIANAPOLIS -- Information technology in today's global business area was the focus of the Kelley School of Business' 55th annual conference Wednesday. The theme of this year's conference was "e' Is the Business: Revolutionizing the Value Chain." \nThe conference featured speakers Sidney Taurel, chairman, president and chief executive officer of Eli Lilly and Co.; Edward Sanderson Jr., executive vice president of Oracle Corporation; and Lawrence Summers, former U.S. Secretary of the Treasury.\nTaurel opened the conference by detailing how Eli Lilly is applying various new technologies to its operations. He discussed how old economy companies are now applying new economy technology. The company is working to position itself for the future, Taurel said, with its new initiative e.lilly., a program designed to act as a business incubator giving potential partners the opportunity to explore new ventures with the company.\nSanderson, who was recently named on of the top 25 consultants by Consulting Magazine, followed Taurel and detailed seven key areas that are affecting e-business. Sanderson talked about trends in e-business and detailed where he thought the sector was headed. \n"Brick and mortar companies will make .com operations as efficient as possible; these channels will be leveraged and total value will be added," Sanderson said. \nThe business school presented alumni awards to Elizabeth S. Action, Bruce Hinton, Roger G. Ibbotson and trustee James T. Morris during a luncheon. Kelley School of Business Dean Dan Dalton ended the awards presentation by honoring Michael L. Hatfield with the Distinguished Entrepreneur Award for his achievements in developing various businesses.\nSummers closed the conference by detailing how changes in technology have affected the world. He said knowledge is the key to the new economy. \n"The new economy is based on knowledge rather than mass, what one can do with their head rather than hands will be increasingly rewarded," Summers said. \nDuring his speech, Summers said knowledge regarding the application of technology would become even more important as more and more people gain access to new technology. He said as a greater number of people access technology such as the Internet, its importance will only increase in society.