E-Commerce and the New Economy
The web has transformed our global economy. It is a powerful tool that has changed the way we produce, market and distribute goods and services. Finances and culture have been altered. New styles of commerce have developed. For example, a business call placed in North America could be handled by a technical expert in Asia as business is conducted internationally as well as transnationally. The purpose of this essay is to examine the issues, challenges and opportunities related to commerce in the “new economy”.
The internet became popular in 1995. It creates many opportunities in different kind of industries. Ecommerce is one of the successful examples of buying and selling on the web. It is like a cocoon, which became mature in these recent years. Low start-up costs make online businesses attractive to new entrepreneurs. Establishing their businesses online can eliminate store rental expenses; they don’t have to hire anybody to take care of it (Charles Steinfield). They can upload some pictures and descriptions of their products online. This allows their customers to see what they are buying. Moreover, customers can search for their needs whenever they want as long as they have an access to the internet (Charles Steinfield). Because of globalization, the national boundaries are eliminated as well. Customers can make their purchase anywhere around the world. This expands target markets.
Buying products online, customers can ask questions anytime when they encounter any problem or have doubts about what they are buying (Charles Steinfield). Many websites have provided online support services. Buyers can contact sellers directly and discuss their concerns. Therefore, the interaction between b...
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...r shopping will be done at home on the web. This will bring society into a new economy.
Bibliography
1) Donna L. Hoffman, Thomas P. Novak and Patrali Chatterjee, “Commercial Scenarios for the Web: Opportunities and Challenges”
http://www.ascusc.org/jcmc/vol1/issue3/hoffman.html
Owen Graduate School of Management, Vanderbilt University
2) Charles Steinfield, “An introduction to the special issue” http://www.ascusc.org/jcmc/vol1/issue3/genintro.html
Michigan State University
3) Rolf T. Wigand and Robert I. Benjamin, “Electronic Commerce: Effects on Electronic Markets”
http://www.ascusc.org /jcmc/vol1/issue3/wigand.html
School of information Studies, Syracuse University
4) Nonick “Buying online. Is it safe? What are the Dangers of Buying Online?” http://www.zyra.org.uk/buysafe.htm
Zyra
5) Straubhaar and LaRose, “Media Now” Third Edition, Wadsworth, 2002
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Mckinney, Joseph. "US-Canadian Economic Relations, Twenty Years after the USA-Canada Free Trade Agreement." British Journal of Canadian Studies 23 (2010): 233-246.
Xu, Jun, and Mohammed Quaddus. E-business in the 21st century: realities, challenges and outlook. 2 vols. Hackensack, N.J: World Scientific Pub Co Inc, 2010. Print.
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The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
E- Commerce is a phenomena that is emerging rapidly between businesses all over the world, and it has affected the businesses at all sizes in many aspects.
The high take-up of the Internet leads to variety of opportunities in front of companies. People are more online than ever. They spend many hours each day on Social Networks such as Facebook and Google+. It is no wonder that buying and selling can now be done in a more convenient way. Although traditional shopping is still thriving, online shopping can be an alternative for people wanting to save time and money. If a certain customer plan to go shopping, it could be stressful and also be time consuming. E-business has made shopping or any kind of transactions online much easier and convenient. It introduces new facilities, opportunities and way of shopping for both vendors and customers.