Business transactions on the Internet otherwise known as, E-Business is the latest way to interconnect with business associates, provide customer service, and partake in buying and selling. A benefit of an E-Business is the storefront becomes obsolete along with the entire inventory, physically managing employees, overhead costs, and the hassle of maintaining a physical location. Along with benefits of electronic business there are challenges posed, such as limited markets, trust, consumer protection and abiding by tax regulations (Baltzan 2013).
With all the technology available for use today companies have the capabilities to allow their employees to work from home, called telecommunications. From the company perspective this defers from providing an office space and the costs associated with housing employees. From the employee perspective working from home saves on fuel cost, some clothing cost, insurance premiums will decrease, wear and tear on their automobiles, and in some instances childcare. Even though the expense of a physical location has been bypassed there are costs that remain a factor for the organizations in house structure of employees (Kioskea, 2013). Such as computers, routers, satellite access, wires, visual communication, system hardware and software, in organization support services, web development hosting and consulting, electronic payments, technicians, and programmers (Mesenbourg, 2013).
A whole new technical job market has been created since E-Business has advanced its way to the forefront of the business industry. Some of the positions offered are virtual sales representative, online customer support, client consultant via phone, business objects administrator from home, computer application consulta...
... middle of paper ...
...ure. Electronic transactions continue to alter the world perspective in the way business is conducted and is the focal point of expansive growth. Harnessing a boundless endeavor for excellence, customer service, trust, and adhering to taxation requirement for the ultimate merchant, customer experience remains a continuing challenge.
Works Cited
Baltzan, P. (2013). Business Driven Technology (Fifth ed.). New York, NY, USA: McGraw-Hill.
Kioskea. (2013, November). Introduction to e-business. Retrieved from http://en.kioskea.net/contents/206-introduction-to-e-business
Mesenbourg, T. (2013, October). Measuring electronic business: Definitions, underlying concepts, and measurement plans. Retrieved from http://www.census.gov/epcd/www/ebusines.htm
Rouse, M. (2005, April). E business search cio. Retrieved from http://searchcio.techtarget.com/definition/e-business
Have you ever purchased any product on the Internet, used the Internet to collect information or data, or played computer games on the Internet? You must agree that it is fast, easy, and enjoyable. The Internet has been a part of our daily life for several years now. In addition, in the business world, a new business model, E-business and E-commerce, has appeared for several years. According to Ali, there are two main types of E-commerce: B2B and B2C (2000). One is business to business (B2B). This means that enterprises use the Internet to transact or trade between business operations and their partners. Another is business to consumer (B2C). In other words, enterprises provide products, support good, and services to the customers on the Internet.
Laudon, Kenneth C. Traver, Carol. E-commerce: Business. Technology. Society 3th ed. Pearson Prentice Hall. Upper Saddle NJ, 2007.
In today's business world, many consumers prefer a company's presence & position on the internet. E-Business is a magical marketing tool for most companies. The term attracts attention and affects the fundamental tasks of a company's day-to-day operations. Companies have not confused the financial woes of various venture capitalists in the dot-com industry with the wide-range of possibilities offered via e-business. If positioned properly, a company could effectively influence the opportunities on e-business in a well-managed manner.
Businesses must not implement e-business just because it is the fad but rather determine whether it will enable their strategy to have a competitive edge. Several e-business models have been introduced and a choice is made depending on the nature of business.
Creating an e-commerce presence is a relatively complex proposition in today 's world. It is critical
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)
At the core of the development of an e-business strategy for any particular organization lays several issues that need to be spotted on by any person who intends to successfully develop either a B2C e-business model or a B2B e-business model. Due to the rapid development of technology and globalization in the 21st century, e-business has suddenly become an important means of conducting business transactions given the big difference in both businesses and consumers’ way of living prior and during the advent of technology.
E-commerce is the use of electronic methods and technologies to sell and purchase either goods, services or information. The e-commerce concept was first introduced in the early 1990’s takes place over the World Wide Web. In this context, there are three distinct levels of integration in e-commerce including vertical integration and cross-business integration. The vertical level of integration involves the linkage between the front end of the website and transaction systems On the other hand, the cross-business integration involves linking a company’s website with the websites of its customers and suppliers. The third and final level of integration is the inclusion of technology to handle customers’ orders, purchases and customer service. Consequently, these three levels of integration give rise to a combination of links, information, websites and e-commerce websites, which are accessible over the internet.
Nature of doing business, over a period of time has changed with the development in the information technology. It was believed that the reduced cost of transactions done electronically will lead to decrease or disappearance of the traditional intermediaries which will reflect a change in the electronic value chain. The effect of electronic business will restructure the traditional market – Disintermediation where the traditional intermediaries will lose its existence; Re-Intermediation where they will be forced to set apart and will re-develop in the electronic business; and Cybermediation where entirely new markets will be formed for the intermediaries.
Technological advancements have taken the world by storm. The daily chronicles have a different story to tell with every dawn of a new day about a technological invention and/or innovation. Doing business has become competitive more than ever. This phenomenon has created a business environment that follows the cliché, the survival of the fittest. It is in this spirit that businesses have adopted technology to survive and remain relevant in the dynamic consumer environment. This is especially so because the world has become a global village where information, ideas and products flow between different continents have become seamless. The internet has made it easier and cheap for manufacturers, wholesalers, and retailers to transact their businesses in a variety of markets in a faster manner. Consumers are also able to access a wide range of goods and services anytime they feel like. This study discusses the development of e-commerce and its future prospects.
Turban, E., Lee, J., Warketin, M., & Chung, M. (2002). Electronic Commerce: A Managerial Perspective. Prentice Hall.
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
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 has grown significantly over the past years, it has helped small businesses to expand and create new businesses mush easier and faster than before, it also has changed the way they deal with customers and helped the growth of the economy, and more and more businesses are doing their business over the web, all of that shows how important EC is in many aspects and how it will continue emerging between businesses.
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.