Electronic business or e-business is a whole new way of doing business over the internet in today's society. In today's ever changing environment, people are shopping more and more online, which has opened up new aspects of money making strategies that businesses have built on. E-business has helped businesses grow, or ultimately loose revenue and play catch up. There are several key aspects in which e-business needs to be conducted. E-business can make, or break a company. This paper will reveal the history, successful companies and their strategies, trends, and the current landscape of e-business. E-business can be defined as any business process that is empowered by an information system (Wikipedia). This basically states that e-business is typically done through web-based technologies. It includes transactions, order forms, selection of merchandise, warehousing, availability of products, and descriptions of a product. The history of e-business starts with e-commerce, which is interrelated. With changing technology, comes a new definition of existing words. For example e-commerce was originally defined as the facilitation of commercial transactions electronically through electronic data interchange, which would send electronic commercial documents like invoices or purchase orders electronically (Wikipedia). The new definition of e-commerce is the purchase of goods and services over the World Wide Web through secure servers with e-shopping carts and electronic pay services, such as credit card payment authorization services (Wikipedia). In the early 1990's, when the web was becoming more recognized by the public, many journalist and economists predicted e-commerce to become an economic sector. Once security protocols were in place, a significant number of businesses started developing basic web sites. The majority of the businesses were based in the United States, and Western Europe, but a large number of them disappeared during the dot-com collapse between 2000 and 2001 (Wikipedia). Although a large number of e-commerce companies disappeared, several survived. For example Amazon.com, who's web site is customer friendly and easy to navigate currently offers 4.7 million, books, audio books, CDs, DVDs, computer games, and more (Amazon.com). I have personally bought books from Amazon. Their site is easy to navigate through and very user friendly. The layout of the web site catches ones eye, and almost make a person look at different products, even if they're not shopping for that product. Amazon hasn't always been on top though; it started in 1994 as a online book store making a reputable name for itself, until the tech boom collapsed.
The growth of online business has grown enormously over the years. Cliptomania is a family operated and owned small e-business that primarily sells clip on earrings (Brown, DeHayes, Hoffer, Martin, & Perkins, 2012, p. 308). Cliptomania early developments were very modest, and as such the company experienced copious strategic dilemmas. An initial strategic dilemma that the company encountered when establishing and building their new e-business undertaking was to create a website for the business operations and essentially to have it fully operable. The owners, Jim and Candy elected to hire a vendor to host the website and additionally utilize the IT systems resources of the vendor to sustain their business. At the very beginning they exploited the offerings of the Yahoo Store. However, continuing down this avenue of using the services of the Yahoo Store inevitably became too costly. By using the services and business offerings of a vendor made it convenient and effortless for Jim and Candy to start their e-business store. Unfortunately the couple did not have much in the way of professional help, and so they had to create and put together the website by themselves. Additionally they also had to deal with establishing their online credibility as many customers preferred to call in their orders just to talk with a real person before being comfortable enough to place their orders via the webpage.
Starting out as solely an online bookstore, Amazon has become the largest online retailer in the world.
Laudon, Kenneth C. Traver, Carol. E-commerce: Business. Technology. Society 3th ed. Pearson Prentice Hall. Upper Saddle NJ, 2007.
Technology plays a big part of the e-retailing industry. It has many positive qualities that impact the industry. Technology simplifies the purchasing process. Since the industry is web based, it helps eliminate the nuisance of not having products when wanted by having the capabilities of placing orders 24/7 at any computer with web access. Technology will also standardize the purchasing process thus reducing processing costs associated with traditional processing.
In summary, “Internet activities are not most significant in competition, such as informing customers, processing transactions, and procuring inputs”. (Porter, 2001) significant corporate assets--skilled employees, proprietary product, and efficient logistical systems – these factors are the most important to keep competitive advantages. In fact, it is foreseeable that the Internet's evolution will come up in the future involve a shift “in thinking from e-business to business, from e-strategy to strategy”. (Porter, 2001)Only by integrating the Internet into overall strategy will this powerful new technology become an equally powerful force for competitive advantage.
The future of economic competitiveness for most enterprises relies on entrance and active participation in the e-commerce market. An essential problem with e-commerce is that the controls and organization are different for each site. There is no standard way of building t...
Amazon.com's privacy statement details what information it collects from users when placing an order or signing onto a specific service. When Amazon recently (September 2000) changed its privacy policy, it decided to inform all its customers proactively by e-mail, rather than just updating the policy on site, as is common Web practice.
Amazon has now grown to provide the biggest selection of CDs, Videos, books, DVDs, home furnishing, and almost anything one could want. The company went public in 1997 when it continued its increase its product lines
From its modest beginnings as the "World 's Largest Bookstore," till date Amazon has dominated many segments of retailing, to the extent that it has helped cause the extinction of a number of brick-and-mortar retailers.
E-commerce, a system by which people can buy, sell and deal without even seeing the person on the other side, has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking.... ... middle of paper ... ...
Electronic commerce, commonly known as E-commerce or E-business, is trading in products or services conducted via computer networks such as the Internet. Electronic commerce includes the technologies such as M.Commerce, electronic funds transfer (EFT), supply chain management (SCM), Internet marketing(IM), online transaction processing(OTP), electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce mostly uses the World Wide Web at least at one point in the transaction's life-cycle. Also it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones/mobiles as well. Electronic commerce is generally considered to be the sales aspect of e-commerce. It also consist the processes of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating inside an organization and also one of the most effective, useful ways of conducting ecommerce processes in order. It is a Market entry strategy where an organisation may or may not have a physical presence. The areas of the Security and privacy, Reliability of the seller and buyer, Consumer Protection, logistics involving shipments and E-loyalty are some of the major problems of E business industry. Comprehensive background of these issues and countermeasures discussed here come from experiences derived from the studies made upon researches regarding the challenges of the E business industry.
E-marketing is a fast growing and rapid platform for any form of business. EBay has been highly successful over recent years and this is a perfect example of an online business. The internal and external environments are constantly changing and in order to keep up with these changes, businesses and organisations must make relevant changes, and generate new strategies to keep up with contemporary developments in e-marketing and to also maintain their position in their market in comparison to their competitors.
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.
According to the author, e-business is conducting business on the internet by not only buying and selling goods, but also servicing clients and collaborating with business partners by using all the human technologies.
What's e-business? It is the transformation of every business process through using the internet and associated technologies. In this transformation, each part of the business becomes a part of an intrinsic network, which enables employees, suppliers and customers of a given enterprise to conduct their tasks. People usually try to make a point in differing e-business from e-commence, but as I see, e-commerce is a part of the e-business category, and an important one.