Tag: emerging trends in business

It is true that e-business includes e-commerce. E-business is a much more wider term than e commerce. E-commerce is nothing but buying and selling of goods and services through internet while e-business also focuses on cost savings, on internal processes and maximizing efficiency.

In e-commerce type of business , transactions can be done 24*7 since there is not any store, there is also not an opening  and closing time.E-commerce provides the flexibility of time i.e. one can purchase the product whenever or wherever he wants to.

Electronic commerce refers to pursuing commerce activities i.e. buying and selling of goods over an electronic network typically,  internet. These business transactions occur either as business to business transactions, business to consumer transactions, consumer to consumer transactions and customer to business services.

A business communicates directly with customers for selling their goods, for getting feed backs as  communication between the business enterprise and customers is very necessary, without it an organisation cannot survive in the market for long run.

The main concern for e-commerce form of business is maintenance as every transaction is done with the help of internet so network availability is necessary and that involves huge maintenance cost, which sometimes become a hurdle in the functioning of business.

After the invention of Internet, everything in this world has been transformed. For example: food can be delivered by ordering online, goods can be purchased and sold through internet, one can attain knowledge through google or you tube, work from home can be done with the help of internet.

Internet is responsible for the phrase "networked individuals and firms are more efficient than networthed individuals" as internet usage depends on the network availability in a given area rather than money availability with person. Internet requires a good speed of network in an area given.

A seller can reach to a large number of people with the help of Internet. Seller can communicate with the customers worldwide as internet is used by million of people and internet has no boundaries i.e. without any restrictions. For example: Amazon is used in many nations.

Amazon, Flipkart, E bay, Ajio etc., all comes under e business as they all operates only with the help of internet. Transactions are carried out using internet between buyers and sellers. E- business has no geographical boundaries. Transactions can be carried out between sellers and customers of different nations.

The disadvantages of e business includes the lack of interpersonal relations between customers and business enterprise as they don't know about the physical existence of each other and it is not suitable where customer requires personalized services. Security is a main concern in pursuing e-commerce activities.