E-Commerce E-Commerce is a shortened word which means Electronic-Commerce. Vladimir Zwass (2001) defines E-Commerce as the process of carrying out business transactions by the use of telecommunication networks. It involves sharing business information and maintaining business relationships. E- Commerce started as early as 1948 during the Berlin airlift in the form of electronic transmissions (Seideman, 1996). E-Commerce later developed into electronic data interchange (EDI) and in the 1960s, industries cooperated to produce common electronic data formats. These formats were however only used in purchasing, transportation and finance at the intra industry level transactions. National EDI standards were later developed in late 1970s and these were developed well in the early 1990s. By definition, EDI is an electronic transfer of standardized transactions between two parties over a private network by use of computers. These transactions are business in nature and the parties would be a sender and a receiver computer. Zwass (2001) argues that internet dynamics have redefined E- Commerce and the traditional E-Commerce is fast moving to the internet. The redefined E- commerce now includes several other facilities such as electronic trading of tangible and intangible goods, online marketing, ordering payment and delivery, consultancy services such as advice, and the online company collaboration. This has lead to several other definitions of E-Commerce that are used in different contexts. For example, Timmers (2000) defined E-Commerce as the process of doing business electronically while Straight-on.com (2000), defined E-Commerce as conducting financial transactions by electronic means. Turban, Lee, King and Chung (1999) defined elec... ... middle of paper ... ...agepub.com. (2011). Retrieved from: http://www.sagepub.com/upm-ata/9598_019964Ch1.pdf. Seideman, T., (1996). What Sam Walton Learned from the Berlin Airlift, Audacity: The Magazine of Business Experience. Straight-on.com., (2000). Retrieved from: http://www.straight-on.com/ecommerce definition.htm TA Project (2002). E-Commerce. Retrieved from: http://www.tab.fzk.de/en/projekt/skizze/e-commerce.htm Timmers, P., (2000). Electronic Commerce-Strategies and Models for Business-to-Business Trading. John Wiley & sons. Vladimir, Z., (2001). Structure and Macro-Level Impacts of Electronic Commerce: From Technological Infrastructure to Electronic Marketplaces. Retrieved from: http://www.mhhe.com/business/mis/zwass/ecpaper.html Zorayda, R.A., (2003). E-Commerce and E-Business. Retrieved from: http://www.apdip.net/publications/iespprimers/eprimer-ecom.pdf
E-commerce program was launched in 1996. The aim was to develop the e-commerce services. Singapore has introduced some e-commerce policy initiatives. There are cross-border e-commerce laws and policies. Some basic legal and technical infrastructures to support secure e-commerce were available since 1998. Some of them are Electronic Transactions Act, Intellectual Property Rights, Amendments to the Evidence Act, Content Regulation, Tax Issues and Import and Export Procedures (Infocomm Media Development Authority, 2016).
Laudon, Kenneth C. Traver, Carol. E-commerce: Business. Technology. Society 3th ed. Pearson Prentice Hall. Upper Saddle NJ, 2007.
Nowadays, the popularities of the internet do change people’s life and even influence the strategy of a company. The article “Strategy and the Internet” authored by Michael Porter presents a few constructive opinions towards companies using the Internet for business that tells company should not lose the focus on building strategic development and competitive advantage. In the article, Michael Porter demonstrated that “the Internet is an extremely important technology, but it has made it difficult for companies to remain profitable over an extended time period”. (Porter, 2001) And internet leads many businesses “distort their market signals and competitive advantage”. (Porter, 2001) It is obvious that company tend to different from other which only focus on price strategies rather than through traditional methods of differentiation. (Porter, 2001) Throughout this article, Porter mainly aim to demonstrated that the Internet will weaken company’s profitability without providing proper operational advantages, because the proper use of internet will add value and increase company’s traditional competitive advantage, but it is unlikely for company to replace it. (Porter, 2001)
The essay “Into the electronic millennium” is a cynical observation of an author named Sven Birkerts, towards the electronic era of 21st century. Author’s overall intent of the essay is to put forth an awareness with a pinch of bias on the electronic damage to the society. He makes many assertions to argue his points which are some what valid even today, some of them which capture quick attention are: “The electronic media are invisible in process, but omnipresent in product” (Birkerts), “the only way that we can understand what is happening- what has already happened- is by the way of serve and unnatural dissociation of sensibility” (Birkerts). With all these impressive protestations, author is trying to make his readers ponder about the topic, as he says, “ To get the grip on the dimensions of the change, you must force yourself to imagine -deeply and in non-televisual terms- what the world was like a hundred, even fifty, years ago” (Birkerts).
Imagine waking up to an innovative business idea that, given the right circumstance, could net you a fortune beyond your wildest dreams. That “right circumstance” referred to above would be directly dependent on what economic system you live in and more specifically, being a free enterprise system. That very same free enterprise economic model is exactly what allowed a young boy born in Albuquerque, NM, to grow up and create a company that would grow to be a household name across the globe. That young boy’s name was Jeff Bezos. Bezos would grow up and graduate with degrees in both computer science and electrical engineering from Princeton University. Little did he know that eight years later in 1994, he would come up with the ingenious idea
According to the definition of Whatis.com "E-business (electronic business), derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners."[1]
Ten years ago, the Internet as we know it hit screens. It was 1995 when Explorer and Netscape emerged as the leading browsers for Internet users. Of course, a lot has changed since the days when it took several minutes to load one Web page. Today, URLs are as common as phone numbers for most businesses.
The Internet and international business is an interesting topic- discussing an area of business that will probably be around for many years and possibly centuries to come. Since its earliest days, the Internet has been a means of communication, an essential tool in almost instant communication.
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 ... ...
"The long-term challenge is to accelerate the development of next-generation technologies in a way that avoids repeating the mistakes of the past" (Global Technology Initiative, 2003). Even with these challenges, e-commerce is changing the face of business worldwide every day. In mid 1999, General Motors announced a development, which simultaneously accelerated the process of globalization and e-business (Reynolds, 2000).
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.
E-business and e-commerce are terms that are sometimes used interchangeably, and sometimes they are used to differentiate one vendor’s product from another. In both cases, the e stands for "electronic networks" and describes the application of electronic network technology - including Internet and electronic data interchange (EDI) - to improve and change business processes (Bartels, 2000)
Online shopping is the latest and greatest craze in the history of the internet, it’s fantastic! You can sit in the comfort of your own home, being as daggy-looking as you like and shop for all your pantry needs or buy that dress you’d like to wear out this weekend, its takes shopping to a whole new level. My favourite online shopping (because I’m female) is online fashion, I love the convenience of being tired and not having to go anywhere to get an outfit.
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.
E-commerce means that the company runs their business online, not like the traditional business way. We have to go the shopping mall or store to get goods that we need, E-Business is the enabling of electronic communication between any two or more participants in a business relationship. It helps companies capture abroad business field, cost saving, and market opportunity. E-commerce is an important factor that is making people’s lives more efficient.