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Electronic Commerce Definition

 IBM’s Definition of E-Commerce is:
Definition. “The transformation of key business process through the use of internet technologies”

E-Business- encompasses e-commerce and “includes the front and back-office application that form the engine for modern business. Its not just about e-commerce transition, it’s about redefining old business models with the aid of technology to maximize customer value”

We can define electronic commerce in following three prospects:

1.    From a communication perspective, electronic commerce is the delivery of information products/services, or payment via telephone lines. computer networks or any other means

2.    From a business process perspective, electronic commerce is the application of technology toward the automation of business transition and workflows.

3.    From a service perspective, electronic commerce is the tool that addresses the desire of firms, consumers and management to cut service costs while improving the quality of goods and increasing the speed of service delivery.

Broadly speaking, electronic commerce emphasizes the generation and exploitation of new business opportunities and to use popular phrases, “generate business value” or “do more with less”.

These improvements may result in more effective performance (better quality, greater customer satisfaction and better corporate decision making), greater economic efficiency (lower costs), and more rapid exchange (high speed, accelerated or real-time interaction). More specifically, electronic commerce enables the execution of information online transactions between two or more parties using inter-connected networks. E-commerce networks can be a combination of telephone system, cable TV, leased lines and wireless.

The Driving Forces For E-commerce

Today’s business environment is influenced greatly by market, economical, social and technological factors creating a lot of competition. Also these factors are unpredictable in that they may change unexpectedly at any time. Such changes in the business world have been defined as business pressure. In order to success in this dynamic world companies must take action such as lowering costs and improving quality etc. At the same time they need to be innovative in customizing their products, creating new products and providing good customer service.

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