The Importance Of Electronic Commerce

713 Words3 Pages
Electronic Commerce
Sadly, in today’s diverse society various wants and needs must be met. Not to mention today’s economic struggles. All these changes have forced society to evolve. Upon such diversification and economic status, businesses have to re-develop themselves to appeal to today’s consumers, meeting their goals, and remaining cost effective, while complying with mandated laws and regulations. That said, today’s 21st century, also known as the Information age, has evolved into an era marked with new technologies and electronic commerce. All which, conveniently facilitate the business to business or business to consumer process. Therefore, in this paper, one will further elaborate on electronic commerce and its significance to the business
…show more content…
In other words, electronic commerce has provided an assistive tool that aids individuals and businesses in supporting their quality of life. Generally speaking, electronic commerce has become extremely significant for today’s economic society, not to mention foster innovation, which can, without a doubt, lead to stability and new revenue opportunities. Nonetheless, entrepreneurs and consumers must ensure to conduct the proper research and examinations prior to engaging into a deal or purchase (Fernandez-Portillo, Cruz Sanchez-Escovedo, Jimenez-Naranjo, Hernandez-Mogollon,…show more content…
For instance, a large business might face more challenges than a small business. Why? A larger corporation operates at a larger scale, thus conducting business with multiple consumers and businesses, which tends to increase the changes of error. Another factor, that businesses and consumers alike should take into consideration is whether a business is global or not. As that only increases the risk factors, challenges, and barriers, like cultural and language barriers (Fernandez-Portillo, Cruz Sanchez-Escovedo, Jimenez-Naranjo, Hernandez-Mogollon, 2015). Although the risk factors are higher with larger businesses, the chance of risk and challenges exists regardless of the size of the business, for the simple fact that social networks, programs, and websites are utilized to process and make business transactions. For this reason, a thorough analysis must be
Open Document