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The Importance Of Electronic Commerce

opinionated Essay
713 words
713 words
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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 this essay, the author

  • Explains that the 21st century, also known as the information age, has evolved into an era marked with new technologies and electronic commerce.
  • Explains that electronic commerce, since the late 1990's, has slowly encompassed several technologies, such as electronic funds transfer, supply chain management, internet marketing, electronic data interchange, and automated data collection systems.
  • Explains that electronic commerce has changed how entrepreneurs, consumers, and society conduct their daily business transactions. it has become an assistive tool that supports individuals and businesses in supporting their quality of life.
  • Explains that while electronic commerce is beneficial, there are certain problems, obstacles, and challenges that can be encountered. larger corporations operate at a larger scale, which tends to increase errors.
  • Opines that quality in electronic commerce is extremely important, especially since it involves various models, systems, and programs that help facilitate the business to consumer. consumers must conduct proper research and examine the actual business, its product or service, to minimize any plausible risks or errors.
  • Concludes that electronic commerce is a wonderful and innovative system that has facilitated the process of conducting business on-line effectively. however, it can also jeopardize an individual’s personal information and data.

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

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