Role of e-commerce in todays business Essay Example | Topics and Well Written Essays - 3750 words

Role of e-commerce in todays business - Essay Example The majority of business organizations perceive electronic commerce as application of the Internet or the electronic platforms as a platform to sell and promote products, services and goods to the customers. However, this constricted description of the e-commerce only describes the Internet based commerce. In actual point of fact, e-commerce contains a wide variety of other aspects as well. In this scenario, e-commerce can be defined as the electronic transactions for trading information, products, services, goods and payments along with additional processes such as the development and protection of Web-based associations. In this scenario, it can be said that electronic commerce encompasses a number of attributes and entities and it is not limited to only some entities such as the Internet, extranets, intranets, electronic data interchange (EDI), and various others. Some of the well-known instances of e-commerce comprise communications and collaboration with business associates and customers like that inventory management, transaction processing by means of electronic payment, customer self-service like that allowing them to track order status as well as researching problem resolution, and making use of a business intranet for omnipresent information sharing (Fruhling & Digman, 2000). Until recently e-commerce has transformed into a completely new form of business. Internet has changed the way people think and carry out their daily routines everyone simply wants to shop and order from their home using their personal computer, all with a single click. Moreover the latest tools and gadgets which are available online have...The emergence of the Internet has resulted in devising numerous ways through which business can be conducted online. An Internet business lets expert individuals to put forward their knowledge to others or to make money by advertising specific merchandise. An e-commerce business requires selling merchandise by means of the Internet. One common e-commerce enterprise involves recording merchandise for sale on auction websites, for instance eBay.com. Another process is drop shipping, where you work as a distributor for a company’s products by selling them at a raised price. E-commerce has been a foremost matter of internet for the last one decade. The concern in e-commerce has reached its zenith during the premature years of 2000. In this model there is a straight online transaction between the buyer and seller. The brokerage models fetch together the buyers and sellers but do not necessarily take part in any form of transaction. This model has seen the most advanced and is also anticipated to continue improvise in the coming years. This paper has discussed various examples of industries where the use of e-commerce has revolutionized the industry. This paper has also discussed a number of advantages offered by the e-commerce. This research concludes that the use of e-commerce is essential in order to endure and grow in this ever-increasing competitive business environment. Hence, in this cut-throat struggle, an interactive user friendly and determined website in the form of online shops can produce good business. E-commerce is an ideal platform for niche products.