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Evolution of e business
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Business as we know it is forever changing. Companies are reaching customers all over the world from the World Wide Web? How is this all possible? E-Commerce is the fastest growing way of selling products today.
The start of E-Commerce was a benchmark in the history of business. In 1984 the EDI was invented. The technical name for this device was the electronic data exchange. This made it possible to make transactions electronically from business to customer. The EDI influence can be seen everywhere in our daily lives. When we make a deposit in our bank account from an ATM, when we write a check at the grocery store, when we pay our bills online. The EDI outreach did not only affect the consumers spending online (History).
The EDI brought with it three different types of E-Commerce, Electronic Catalogues, Electronic Auctions, and Electronic Data Interchange. Electronic Catalogues is when a company puts their catalogue into electronic form for customers to view online. This makes it possible for a company to open up their whole inventory to the customer on the click of a mouse. These could range anywhere from a Sears catalog to an industrial farm equipment catalog. Electronic catalogues were very influential in the way companies reached consumers because they could open up the entire "store" to the customers in a cost efficient way. They no longer had to endure costs of printing and distributing. Electronic auctions can be seen everywhere on the world-wide web. Ebay.com is the biggest example of electronic auctioning. Consumers can view products from individuals, businesses, dealerships etc., from their personal computer and competitively bid on the item. Electronic auctioning has opened up new horizons for all kinds of businesses. Dealerships can post vehicles on the net and have potential buyers from all around the world. They no longer have to rely on the local consumers. This goes for all companies using the World Wide Web to reach consumers. Electronic Data Interchange, or EDI, is the father all of three of these types of E-Commerce. EDI is responsible for most types of exchanges that are done electronically today (Clark).
Who was the first company to try out this new form of Business? CompuServe was the very first company to use E-Commerce to reach customers over the world-wide web. In 1992 CompuServe offered its products online to customers. From this risky idea millions of businesses followed CompuServe's lead.
Provider of online investing services. It has established a popular, branded destination Web site for self-directed investors. It offers automated order placement and execution, along with a suite of products that can be personalized. (Dow Jones Interactive)
In today's competing world, many organizations are rethinking their strategies in terms of the online business and its capabilities and culture. Organizations are taking advantage of the widespread web to buy and sell goods from other companies and recently from individual customers. Exploiting these opportunities of convenience, availability and widespread reach of the web or Internet, many companies such as Amazon have benefited from the use of web successfully.
I will be discussing the use of e-commerce in a “brick and click” organisation. Click organisations are E-commerce sites, like Tesco paly.com, Argos, and amazon. The reason why they are called click is because you have to click to interact with the online store. A brick organisation is your store in the high street, like Gamestation M&S. But the Brick Organisation tends to also have an online website so they can be there for customers 24/7, for example Tesco.
The objective of B2C ecommerce is solely keeping tabs on item deals. On the other hand, B2B emerged with a lot of advantages.
The emergence of information technology has created the need for new business approaches involving the inclusion of electronic commerce, data interchanges and the internet (Elam, Rezaee & Sharbatoghlie 2001:150).
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.... ... middle of paper ... ...
Intel realizes that e-business is not only about selling products over the Internet but the involvement of managing the supply chain and customer service is also crucial. Tremendous value is added to the process of getting raw materials and also of supplying goods to retailers and distributors in a manor that is desired is required (David and Malone p. 106). The main use of business to business e-commerce is the simplification of all business communications. Intel is able to link with all business customers via the Web, which gives them instant access to each other. Their business based site allows things such as their inventories to be linked. Thus, an entire stage of business, product ordering, is eliminated.
E-marketing is a fast growing and rapid platform for any form of business. EBay has been highly successful over recent years and this is a perfect example of an online business. The internal and external environments are constantly changing and in order to keep up with these changes, businesses and organisations must make relevant changes, and generate new strategies to keep up with contemporary developments in e-marketing and to also maintain their position in their market in comparison to their competitors.
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 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.
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.
This paper includes the process of online business; how to sell a product, advertising, various ways to create awareness and how to become a reseller. Laws and conditions for an online business.
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.
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.