Electronic commerce (e-commerce) is a process where transactions occur over electronic networks, predominantly known as the Internet. E-commerce supports the business-to-consumer markets such as the music commerce, travel, auction houses, retail, and online stockbrokers. Consumers are becoming more comfortable with the new electronic age and all generations are changing behaviors to enjoy the accessibility, simplicity, and readiness for the enticements in online shopping or personal banking. Undeniably, e-commerce changed the way consumers and businesses alike behave. Cyberspace created the now freestanding entity of virtual businesses (v-business) that generated a critical concept of emerging the synergies of new technology with shifting philosophies of a corporate culture towards virtual and globalization. Henceforth, both e-commerce and v-business transcend the abilities of the old brick and mortar storefronts to enable, enhance and transform relationships between consumers, business, and stakeholders.
The advancements in the Internet, e-commerce, and v-business with Internet-based technologies matured the levels of e-commerce in a fashion that Internet-based technologies are now a key portion of an organization’s bottom line (Bissell, 2013). Additionally, the advancements also introduce a growing capability to secure transactions, records, and business practices in cyberspace known as cybersecurity. Cybersecurity is more than a concept dealing with compliance and has grown into an issue of evolving business strategies; companies can no longer implement common security controls and return to business as normal (Bissell, 2013).
A common fact exists that millions of people around the world ent...
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