E-commerce is simply the ability to conduct business and personal transactions over the Internet. One of the most popular forms of e-commerce is business-to-consumer transactions where a company or business sells its products and services to a consumer over the Internet. Some examples of this type of e-commerce are Amazon.com, Nobles.com and CDNow.com. Albeit the popularity of this kind of e-commerce, the majority of e-commerce transactions are of the business-to-business (B2B) kind where sales occur between businesses .
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.
Electronic commerce, more commonly abbreviated as e-commerce, is the action of buying and selling products or services through the medium of electronic information systems such as computer networks - the most common of which being the World Wide Web, or internet (Dorogovtsev & Mendes, 2003). A variety of technologies are used to facilitate e-commerce including electronic funds transfer (EFT) which facilitates the electronic exchange of money, online transaction processing (OTP) which handles the data entry and retrieval for transaction processing and electronic data interchange (EDI) which is responsible for processing orders, warehouse stock control and order tracking (Turban, et al., 2009).
B2C sites are internet based market places. E-business portals link customers to suppliers with the objective of passing goods and services to the end user. B2C sites use three venues to entice prospects to become customers. The first venue is the auction store, the second venue is the on-line store, and the third is on-line services. The internet auction store, like eBay has many advantages such as convenience, increased reach to a global market, and because this is a virtual market no infrastructure is needed, so the cost of doing business is reduced. The disadvantages are that the bidder is left vulnerable to possible fraud because the bidder must trust the seller to transfer the goods, and not being able to see the merchandise upfront is another disadvantage. The physical product is only viewed through pictures and descriptions that may not reveal the actual condition and quality of the merchandise. The second venue, online store, benefits the company by increasing demand, low-cost global reach, cost reduction, and overall reduction in costs. The third venue, on-line services is using the exchange to provide customer service, or as a tool to enable the creation of services that can help to make life easier. On-line services seek to leverage the power of the internet. Advantages to the consumer are lower prices, wider choice selection, better quality information, and convenience.
Introduction: 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. This research is looking at the small businesses, and its importance in the market and economy, EC and its benefits and limitation, and what impact has electronic commerce had on the businesses. Small Business: Definition: A small business may is a business with a small number of employees.
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."
E-commerce is a trading in products using the internet. E-Commerce over the past 15 to 20 years has had a major impact on society and the way business is done on a global scale. There are three transactions business to business, consumer to consumer and consumer to business. I will be writing about the advantages and the disadvantages of each one.
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 Makes Life Better ! 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 involves more than just the valuable tools previously mentioned though. e-commerce involves accomplishing a range of business processes to support the electronic buying and selling of goods and services. (Marakas, 2013) Following through with these processes ensures a seamless online transaction as well as customer satisfaction. The diagram below shows the process that occurs on both the buyer’s and seller’s side when a vehicle is sold