The Internet is a dynamic part of the business scene and there have been many examples of success and failures of e-commerce and e-business ventures. A survey was administered to asking questions about industries understanding of current e-business practices in Australia. The object of the survey was to provide a benchmark of current practice. The results of this survey could have a major impact on academic curricula. The survey was sent to 671 Australian Businesses and was addressed to the Chief Information Officer. Only twenty four usable questionnaires were returned and while it is accepted that this is a limited sample, disturbing trends have appeared with respect to the lack of strategic planning for information technology use particularly in medium sized businesses in Australia.