This paper presents proposals for current research into IT-based strategies within virtual markets. It argues for a more flexible and dynamic approach to IT enabled change which is a direct consequence of these new organisational forms. An initial overview is presented of the mechanisms and dynamics of change and the unique features of IBusiness is described. The paper then considers so-called ‘virtual market ecosystems’ where organisations evolve to support various changes to their environments through the adoption and implementation of electronic infrastructures. In this way organizations are attempting to deal with their surroundings which includes all aspects of IT-enabled learning and adaptation (Clegg et al, 1996; De Geus, 1997; Dvorak et al, 1997; Hackney et al, 1999). The contribution of the paper is to identify the fundamental theoretical approaches to meet the challenges of these emerging virtual markets and to propose appropriate IT strategies for I-Business in this respect.