Electronic Business - Essay Example

Whenever we hear or use the word “electronic”, it simply means mouthing relating to, used or accessed through the computer while business can be said to be “transaction ” or “the exchange of one thing for another . Electronic commerce was coined by IBM marketing and internet teams in 1996, whenever you come across “e-commerce”, it focuses on CIT. Electronic commerce enables business organizations and their customers to communicate easily and freely. It has exposed the web as a good place to do marketing businesses.

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People began to use website for their marketing online sales began in 1994 with the use of credit card as the means of payment. Electronic commerce or electronic business are evolving, providing new ways of conducting business that present both opportunities for improvement. Also, commerce can be used In many Innovative ways to improve the operations of an organization. Although e-business offers many advantages and disadvantages, users must be aware of and protect themselves from many threats associated with the use of this technology.

They must Identify the major Issues that represent significant threats to the continued growth of e -business. Organizations must define and execute a strategy to be successful using business or e commerce. Business activities that are strong candidates for conversion to e-business because paper based transactions are time consuming and inconvenient for customers. There are different subsets of e-commerce or e-business there is BIB which means business to business, ICC which means business to consumers, ICC which means consumers to consumers or e Government I. E. Electronic government, mobile business which will be explain below Business to business (BIB) All the participants are organizations or companies this is a very useful tool for connecting business partners In a virtual supply chain to cut resurvey times and reduces cost, business to equines commerce Is really good for companies or organization because It helps them to relate very well without going to meet each other In their place of work If It Is are two type of business to business communication there is internal and external communication : internal deals with people within that organization in that particular area or place while external deals with people out of that organization is possible both are having the same name but in different location .

Consumers to consumers this is another subset of e business or e commerce which involves consumers selling erectly to consumers this is highly common among student which has enough popular site for this business for example scraggliest , ibid , ibid and so on Business to consumers this is another subset of e business or e commerce which is the most common and the most popular one everywhere in this subset of e commerce customers deals directly with the organization without any intermediary this is a very good subset of e commerce or e business Electronic Government this is another subset of e commerce or e business it deals with the use of information and communication technology to speed formerly paper based processes , simplify the haring of information and improve relationship between citizen and government this type of e business or e commerce are used mostly among politicians or government organizations e government are of three different types where are : Government to government Government to consumers Government to business Mobile business or mobile commerce mobile business is another easiest way of conducting business it relies on the use of wireless the ICANN created a . Mobile domain to help attract mobile users one of the popular website which m commerce or e business is used is bibliophile’s. Mom most people prefer mobile commerce now because is a anywhere , anytime business egg mobile banking , mobile advertising , mobile price comparison, mobile coupons .

Electronic and mobile applications are being use Retail and wholesale: electronic retailing is a direct sale from business to consumers through electronic store fronts cybercafé is a single website that offers many products and services at one internet location. Manufacturing: electronic exchange or electronic forum where manufactures, suppliers and competitors buy and sell goods and market information business center is not a physical building but a outwork based location where business interaction occurs. Marketing: use of detailed information about customer’s behaviors, preferences, needs, and buying patterns to customize the entire relationship with that customer it deals with knowing who your target market is which you will target them with advertising messages and also with market segmentation.

Investment and finance: the internet has revolutionized the world of investment and finance electronic bill and presentment it eliminate all paper down to the bill itself. Auction Arenas: when you hear the word auction is another means of buying and selling but deals mostly with adding and selling that particular item to the highest bidder eBay has become synonymous of online auctions the two most popular type of online auction is English auction and reverse auction the English auction is arguable which is the most common form of auctioning in use today while reverse auction is when the role of the buyer and sellers are reversed of their primary objective.

Furthermore,Electronic challenges, language challenges , time and distance challenges , currency challenges , national law challenges, product and services challenges etc e business just ensure that customers are highly protected and safe due to duping issues and hackers there are different types of methods which electronic organization can use to protect their customers for example address verification system , card verification number technique , visa advanced authorization technique because electronic business is a kind of business that have different kind of threats like Pushing: sending bogus messages to pry personal information from customers by convincing them to go too spoof web site Click fraud: can arise in a pay per click online advertising environment when additional clicks are generated beyond those that mom from actual, legitimate users. In conclusion, the advantages of e commerce or e business are; it reduces cost, speeds up the flow of goods and communications, increases accuracy and improves customer services. Another way electronic organization or companies can reduce fraud is by improving and maintain their website by tailoring web pages to specifically target individual consumers, captures user provided information, capture data from customers web session.