The internet has been a major contributing factor to the emergence of E-commerce; it has also been the most used platform for the dissemination of virtual goods. Companies are able to use E-commerce to enter new markets that would have otherwise been excluded due to geographical locations and cost. E-commerce has made it possible for companies to extend their products to new sets of customers and new parts of the world. It also means that shopping and customer support for most are now 24 hours due to 24 hour call centers, automated services and 24 hour live help by using interactive chat sessions on the internet “Managerial Issues for expanding Web-based Electronic Commerce.” By engaging in E-commerce companies can lower cost by using an online channel. E-commerce can also reduce cost associated with paper based processes such as postage and printing. It also helps build customer relationships by giving customers faster and more responsive services. Another important factor for using E-commerce is that it allows ability to compete and survive in the emerging digital economy when it comes to the global economy (Tapping the power of commerce, 1999 ) ADVANTAGES AND LIMITATIONS OF E-BUSINESS:Advantages and Limitations of E-Business Advantages: - Plans for improving its business, products, services. - It creates awareness in the society for understanding the technology - Access to global market and information. - Global reach - Better decision making - Ubiquity - Cost effectiveness and increased productivity - Quicker and easier communications - Strengthened marketing capabilities and reach - Access to broader information through research - Information density - Reduces asymmetry - Reducing the cost of doing business by lowering tr... ... middle of paper ... ...ts or loans. The use of e-commerce allows businesses to better serve customers by being able to make information such forms for pre-qualifications for credit cards and other financial documents available online. When organizations go online, they have to decide which e-business model best suit their goals. A business model is defined as the organization of product, service and information flows, and the sources of revenues and benefits for suppliers and customers . The concept of e-business model is the same but used in the online presence. The following is a list of the currently most adopted e-business models such as: - E – shops - E – commerce - E – procurement - E – mails - E – auctions - Virtual communities - Collaboration platforms - Third-party market places - Value-chain integrators - Value-chain service providers - Information brokerage - Telecommunication
Electronic Commerce or e-commerce refers to a wide range of online business activities for products and services(Rosen, 2000). E-commerce (or electronic commerce) is defined as the buying and selling of goods and services conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems. (Anon, n.d.). It also refers to any type of business transaction where the parties interact electronically rather than by physical exchanges or physical contact. (Anon, n.d.)
e refers to the trade of production or service across the internet using an electronic means. This includes all the activities that help in carrying out a transaction. There is no face to face interaction between the parties. Ecommerce can be business to business, consumer to business and consumer to consumer. Ecommerce covers the external facing processes that touch customers, suppliers and existing partners .
Electronic commerce, commonly known as E-commerce or E-business, is trading in products or services conducted via computer networks such as the Internet. Electronic commerce includes the technologies such as M.Commerce, electronic funds transfer (EFT), supply chain management (SCM), Internet marketing(IM), online transaction processing(OTP), electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce mostly uses the World Wide Web at least at one point in the transaction's life-cycle. Also it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones/mobiles as well. Electronic commerce is generally considered to be the sales aspect of e-commerce. It also consist the processes of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating inside an organization and also one of the most effective, useful ways of conducting ecommerce processes in order. It is a Market entry strategy where an organisation may or may not have a physical presence. The areas of the Security and privacy, Reliability of the seller and buyer, Consumer Protection, logistics involving shipments and E-loyalty are some of the major problems of E business industry. Comprehensive background of these issues and countermeasures discussed here come from experiences derived from the studies made upon researches regarding the challenges of the E business industry.
E-commerce “is the exchange of money for goods or services between companies and/or end consumers” (Hemond-Wilson). The most common image of e-commerce “is that of a web-based catalogue from which buyers can order products and the sellers can receive payment” (Hemond-Wilson). E-commerce has two main forms, which are business-to-business, and business to consumer. B2B e-commerce “is business which is conducted between businesses via some electronic means” and B2C e-commerce “is the exchange of money for goods or services between a company and end consumers using electronic technology” (Hemond-Wilson).
The Electronic Commerce, or e-commerce industry, is one of the most conductive sectors of the economy. E- Commerce is an interesting combination of business models and new information technologies as it deals with the buying and selling of goods and services over the Internet. The three major electronic commerce categories are: business –to- consumers (B2C)
A business model could be defined as portrayal of the potential benefits for a group of stakeholders or actors; also it can be seen as architecture of how a firm generates its revenue. Over the years many firms have tried to use the Internet to create their own unique selling points, which can be seen as their business models. For instance Amazon.com’s innovation in this regards was to eliminate the traditional arrangement of supply chain (Disintermediation) and to make value out of it. Several other e-commerce sites have carried out similar transformations e.g.Ebay.com in the area of auction. Though there has been no consensus on the definition of a business model in the online context, practitioners have tried to link the term “e-commerce” to firms that can conduct all aspects of their transactions online hence some classification of the various market structures that operate in the Internet has been developed (Mahadevan, 2000).
Considering that the company sells their products directly to customers, the recommended business model is Business-to-Consumer (B2C) which involves transaction between business organization and consumers (See Figure 4).
What's e-business? It is the transformation of every business process through using the internet and associated technologies. In this transformation, each part of the business becomes a part of an intrinsic network, which enables employees, suppliers and customers of a given enterprise to conduct their tasks. People usually try to make a point in differing e-business from e-commence, but as I see, e-commerce is a part of the e-business category, and an important one.
E-commerce was not so much known about in the last few years. However, growth in technology has revolutionized it in modern times. The advent of World Wide Web (WWW) from the early 1990s has been one of the major forces behind the advancements in e-commerce. Governments and private sector are investing in e-commerce as one of the ways of surviving competition and increasing economic growth. E-commerce is currently facilitating transactions between businesses and consumers (B2C). On the other hand, it has also become vital in business to business trading (B2B).
the most common type of e-commerce is Business to consumer . When the business is a trader, and the consumer is the client this form is used. The business to sell items through its Web site is the most common set up for this type of e-commerce. Usually, these businesses offer a list and an online shopping cart, and the business is able to accept expense through its Web site. The creation is shipped to them directly, or the consumer then has direct access to the service online. Business to Consumer refers to export and promotion export of services goods and goods via the web. where the sales are made generally to the consumers in its place of other businesses this is a business. There are no enormous reserves required for beginning a business is the advantage of this type of e commerce models . Which they are introduced to the customers this is because the different types of e commerce application have seen far more developments of the model based online stores using. can be made use of to develop character sites along with graphics and logos for the retailer to enhance their business is the latest application technology of the internet. Without the requirement of any other hardware or software, the only accuse they will have to pay is their monthly rentals. the consumers can enjoy are that the shopping done over the internet can be quicker and easier with a number of deals accessible by the retailers that some of the other advantages .
According to the definition of Whatis.com "E-business (electronic business), derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners."[1]
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.
E-commerce or electronic commerce is carrying out business communications and transactions through computers and over networks. It involves buying and selling of goods and services through digital communication. E-commerce also includes transactions on the World Wide Web and the Internet and means such as electronic funds transfer, smart cards and digital cash. E-commerce covers outward facing processes that interact with customers, suppliers and external partners such as sales, marketing, delivery, customer service, purchasing of raw materials and supplies for production.
E-commerce means that the company runs their business online, not like the traditional business way. We have to go the shopping mall or store to get goods that we need, E-Business is the enabling of electronic communication between any two or more participants in a business relationship. It helps companies capture abroad business field, cost saving, and market opportunity. E-commerce is an important factor that is making people’s lives more efficient.