Online Assignment
- 1. ONLINE ASSIGNMENT Topic: E-commerce and its relevance in the modern world Submitted by Nisha kumari. U Commerce
- 2. INTRODUCTION E-commerce means electronic commerce, is trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction’s life cycle, although it may also use other technologies such as e-mail. E-commerce is a modern term describing the growing on-line economy. Since the Internet began, thousands of new companies have come in to existence and are trading goods and services electronically. The e-commerce business may be for products sold directly to the consuming public or directly to other businesses.E-commerce is conducted with low overhead and in most Cases without even storefronts.Electronic business is any information system or application.That empower business processes.Today this is mostly done with web technologies.
- 3. INDEX Sl No. Content Page No. 1 Introduction 1 2 Content 2-5 3 Conclusion 6 4 Reference 6
- 4. CONTENT Electroniccommerce or e-commerce refers to a wide range of onlinebusiness activities for productsand services. It also pertains to “any form of business transaction in which the parties interact electronicallyrather than by physical exchanges or direct physical contact.” E-commerce is usually associated with buying and selling over the Internet, or conductingany transaction involving the transfer of ownership or rights to use goods or services through a computer-mediatednetwork. Though popular, this definition is not comprehensive enough to capturerecent developments in this new and revolutionarybusiness phenomenon. A more complete definition is: E-commerce is the use of electronic communications and digital information processing technology in business transactionsto create, transform, and redefine relationshipsfor value creation between or among organizations, and between organizations and individuals. Types of E-commerce The major different kinds of e-commerce are: business-to-business (B2B); business-to-consumer (B2C); business-to-government (B2G); consumer-to-consumer (C2C); and mobile commerce (mcommerce). B2B e-commerce is simply defined as e-commerce between companies. This is the type of e-commerce that deals with relationships between and among businesses. About 80% of e-commerce is of this type, and most experts predict that B2B e-commerce will
- 5. continue to grow faster than the B2C segment. The B2B market has two primary components: e-frastructure and e-markets. Business-to-consumer e-commerce, or commerce between companies and consumers, involves customers gathering information; purchasing physical goods (i.e., tangibles such as books or consumer products) or information goods (or goods of electronic material or digitized content, such as software, or e-books); and, for information goods, receiving products over an electronic network. Business-to-government e-commerce or B2G is generally defined as commerce between companies and the public sector. It refers to the use of the Internet for public procurement, licensing procedures, and other governmentrelated operations. This kind of e- commerce has two features: first, the public sector assumes a pilot/leading role in establishing e-commerce; and second, it is assumed that the public sector has the greatest need for making its procurement system more effective. Consumer-to-consumer e-commerce or C2C is simply commerce between private individuals or consumers.This type of e-commerce is characterized by the growth of electronic marketplaces and online auctions, particularly in vertical industries where firms/businesses can bid for what they want from among multiple suppliers.16 It perhaps has the greatest potential for developing new markets. M-commerce (mobile commerce) is the buying and selling of goods and services through wireless technology-i.e.,handheld devices such as cellular telephones and personal digital assistants (PDAs). Japan is seen as a global leader in m-commerce. As content delivery over wireless devices becomes faster, more secure, and scalable, some believe that mcommerce will surpass wireline e-commerce as the method of choice for digital commerce transactions. This may well be true for the Asia-Pacific where there are more mobile phone users than there are Internet users.
- 6. Features of e-commerce 1. Ubiquity 2. Global Reach 3. Universal Standards 4. Richness 5. Interactivity 6. Information Density 7. Personalization/Customization The Advantages 1. Cost Effective The entirefinancialtransactionswilleventually becomeelectronic, so sooner conversion is going to be lower on cost. It makes every transaction through e-commercepayment a lot cheaper. 2. Higher Margin E-commercealso enables us to move better with higher marginfor more businesssafety. Higher marginalso meansbusiness with more controlas well as flexibility. You canalso save timefrom the e-commerce.
- 7. 3. Better Productivity Productivityheremeansproductivityfor both companiesand customers. People like to find answers online becauseit is faster and cheaper, and it costs a lot cheaper expense as well for thecompany. 4. Quick Comparison E-commercealso enables you to comparepriceamong severalproviders. In the end, it leads you to smart shopping. Peoplecan save more money while they shop. 5. Economy Benefit E-commerceallows us to make transactionwithoutanyneeds on stores, infrastructureinvestment, and other commonthingswe find. Companies only need well built websiteand customer service. The Disadvantages 1. Security Customersneed to be confident and trust the provider of payment method. Sometimes, wecan be tricked. Examineonintegrityand reputationofthe web stores beforeyou decideto buy. 2. Scalability of System A companydefinitelyneeds a well developed websiteto support numbersof customersat a time. If your web destination isnot well enough, you better forget it. 3. Integrity on Data and System Customersneed secure accessall the time. In additiontoit, protection to data is also essential. Unless thetransactioncanprovideit, we should refuse for e-commerce. 4. Products People People who prefer and focuson product will not buy online. They will want to feel, try, and sit on their new couch and bed. 5. Customer Service and Relation Problem They sometimesforget how essential to build loyal relationship with customers. Without loyaltyfrom customers, theywill not survive the business.
- 8. Conclusion Daily growing of Internet technologies presents complicated opportunities and challenges to organizations and guiding them to develop new managerial roles and practices. Academic researchers and business associations worldwide, conducted several studies, which emphasized on clarifying managers’ skills and competences, but there isn’t an overall outlook on today’s requirements for e-commerce management. Different companies have different points of view on what the e-commerce manager’s roles and functions are. Some businesses believe that e-commerce management includes marketing functions; others dedicate it to IT functions or web design and web development. In fact, e-commerce managers are in charge of all related aspects of their business, from financial perspective to website maintenance. Moreover, managerial decisions play a substantial role in organization’s performance efficiency and competitiveness in the irregular electronic era. So it is crucial for business owners to be aware of latest e-skills to get their business started successfully or either to help it develop. This paper studies why and how e-commerce managers are trained to deploy IT infrastructures for their business achievements. Particularly, as e-commerce introduces new ways to international business in which even small firms can operate as global rivals, this article aimed to have a brief overview about e-commerce management and e-skill training in current business. Reference: E-commerce- s. pankaj https://www.google.co.in