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What is E-Commerce ?

DEFINITION : Sharing business information, maintaining business relationships and conducting business transactions using computers connected to a telecommunication network is called E-Commerce.

CLASSIFICATION : CLASSIFIED AS :  BUSINESS TO BUSINESS (B2B)
                                                                  BUSINESS TO CUSTOMER (B2C)
                                                                  CUSTOMER TO CUSTOMER (C2C)

E-Commerce Application Example :
  • RETAIL STORES - Books, Music
  • AUCTION SITES
  • COOPERATING BUSINESSES –Placing orders, paying invoices etc.
  • ELECTRONIC BANKING
  • BOOKING TICKETS - TRAINS, CINEMA, AIRLINES
  • ELECTRONIC PUBLISHING
  • FILLING TAX RETURNS WITH GOVERNMENT DEPT.
Advantage of E-Commerce :
  • Buying/selling a variety of goods and services from one's home or
    business.
  • Anywhere, anytime transaction.
  • Can look for lowest cost for specific goods or service.
  • Businesses can reach out to worldwide clients - can establish business
    partnerships.
  • Order processing cost reduced.
  • Electronic funds transfer faster.
  • Supply chain management is simpler, faster, and cheaper using e-
    commerce
    - Can order from several vendors and monitor supplies.
    - Production schedule and inventory of an organization can be inspected by cooperating supplier who can in-turn schedule their work.
Disadvantage Of E-Commerce :
  •  Electronic data interchange using EDI is expensive for small businesses.
  •  Security of internet is not very good - viruses, hacker attacks can paralise
    e-commerce.
  •  Privacy of e-transactions is not guaranteed.
  •  E-commerce depersonalize shopping. People go shopping to meet others
    - window shop and bargain.
E-Commerce System Architectures: 
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Comments

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