global information

The global information society has transformed the way we do business. One of the most widespread changes is the use of the Internet to develop more efficient communications between suppliers and users of goods and services. This process is called intermediation. In this module we will look at how new Internet-based technologies have revolutionized business communications. First we will define intermediation. Then we will examine how technology has affected business communications. Finally, we will look at some of the online technologies that are helping businesses communicate better, faster and more cost-effectively.

e-Commerce: A Guide to How Technology has Affected Business as We Know It Today!

Glossary:

1. 1. Transaction processing--Completing a transaction online—such as when a consumer uses a shopping cart to make online purchases.

2. 2. e-Procurement--All purchasing activities plus all of the monitoring of all elements of purchase transactions

3. 3. Procurement--The purchase of goods for resale

4. 4. Snail mail--mail sent and received via the US Postal Service

5. 5. B2B (Business to Business)—the activities conducted online between two businesses

6. 6. Shopping cart—an electronic tool used by online consumers to purchase goods and services

7. 7. Fulfillment company—offers services to other companies such as transaction processing, providing security, etc.

8. 8. HR (Human Resources): the division of a company which hires employees and takes care of all employee-related matters.

9. 9. EDI (Electronic Data Interchange) — when one business transfers computer-readable data into an agreed-upon format to another business.

10. 10. ISP (Internet Service Provider)—a business that provides access to the Internet via modem, DSL, or TI. They also provide other services such as e-mail, web hosting, and web design.

11. 11. Logistics—

• • Consumer—Browsing for information from multiple sites for comparison shopping purposes

• • Business—Delivery and warehousing activities that will provide the right goods in the right quantities in the right place at the right time.

12. 12. GPS—Global Positioning System—an access mechanism which allows the tracking of vehicle location through satellite

13. 13. Web auction—a site which provides a forum for buyers and sellers to trade items. An auction site normally charges both buyers and sellers; many web auctions sell advertising on its pages

14. 14. Intranet—a web-based private network that hosts Internet applications on a local area network; used for security purposes

E-Commerce: Changing Face of Business

At the dawn of the new millennium, if we look back at the last century, we will realize the changes the world has seen. And even the changes are becoming rapid. The main reason of changes is technological innovation. The ever-changing technology has affected business as well like it has affected all other walks of life.