Ec2304 Business Analysis Paper

Stage 1: Activate the Windows 7 software from the folder. After you click it, this will show up.

However, this definition seemed to be impartially narrow by some people, therefore, with the new term E-Business has emerged, that brings out wider definition of E-Commerce. It is important to note that E-commerce is not just restricted to selling and buying of goods and services, however it also service customers, cooperating with business partners and leading electronic transaction within the company (Song & Zahedi, 2001).

Hope you are having a great summer. I took ECON188 in spring, and it was an amazing experience. Your rich knowledge and insight into the business world really opened my eyes. There is a question that I have debated with myself for a long time. I think you probably are the only person who could help me answer this question. The question is: Business Econ or Econ?

Electronic commerce has been there for a long time now, and it is a practice that is practiced by peoples from Germany, France, and the US on a daily basis. Since its inception around 40 years ago, e-commerce has continued to grow as innovations, technologies and a lot of business reverting to the use of the e-commerce. The aspect of buying and selling of goods in the early 1960s was sluggish with the traditional way of mailing of documents being replaced with the Electronic Data Interchange (EDI), which would later pave a way to the electronic commerce. After the e-commerce, however, the practice was not more reliable as it still had many challenges (Tsolis, 2009). For instance, it was not easy for buyers to see products from the comfort of their homes and more so, the methods of accessing the information were limited.

Electronic commerce or e-commerce is the buying and selling of products and services via the internet. Nowadays the thought of living without e-commerce seems complicated, unfathomable and inconvenience for many. Internet and the virtual companies are changing traditional economic way and making competition ever fiercer than it has ever been in the past.

Electronic commerce, also known as e-commerce, has developed rapidly in the last few years. In this paper, I will talk about the advantages along with the disadvantages of e-commerce. E-commerce consists of many things. People today are aware of the common phrase 'e-commerce', but there is a lot more to it than they are aware of. "Most people think e-commerce is just about buying and selling things over the Internet" (Wareham, 2000). E-commerce is a broad term describing the electronic exchange of business data between two or more organizations' computers. E-commerce includes buying and selling any item over the Internet, electronic fund transfers, smart cards, and all

E-commerce implies the purchasing or offering of products and administrations over the Internet. Electronic commerce is a defined word for any type of business transaction that involves the exchange of information across the Internet. It contains the many ranges of business including the retail sector, health care industry, hospitality and many more. Whatever it may be the business that should helpful to the customer and client. Internet is the tool to grow up the business in market with best facilities. Recently ecommerce booming very fast with the best success rate because it satisfying the customer needs and delivering the customer expectations. The road to making a fruitful online store can be a troublesome if

Electronic commerce, commonly known as e-commerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. (Seybold, 2001)

Over the last few years the rapid expansion of the internet has lead to many technological, business and social shift. Examples of such shifts are the increased demand for greater internet bandwidth, the movement from physical shops to online shops and the social acceptance and trust in using the internet for financial transactions. As the internet and E-Commerce become more integrated into our lives they continuingly drive changes in how we work and live as mentioned above. The future of E-Commerce promises to bring further changes in our lives as the internet continues to expand and it is these possible future shifts which I will discuss in further detail.

The Online business can be classified into three categories; selling goods; providing services and distributing content. The category of selling goods is the evolution of the mail order business. Category “consists of ticket purchases and hotel reservation while category 3 involves the distribution of video and music content. Selling clothing online is a category 1 business. (Kobayashi, M. 2007).Clothing industry became the second largest online product category. The internet’s impact on the fashion industry is revolutionary; the internet has changed the fashion business

The dynamic e-marketing environment poses competitive, economic, and other threats even as it offers opportunities to develop new products, new market, new media, and new channels. Individual buyers have more power because of the television remote control, computer mouse, and the ability to compare products and pricing online. Communities form online to discuss products, share files, and more, and this activity is out of marketer’s control. Most businesses in developed nations have adopted at least some information technologies, however, they continue to strive for effective and efficient IT use to entice and sell to buyers. The Internet deeply affects the citizens of many countries.

The Internet is already taking its place as a central tool in everyday business life. Each aspect of commerce is changing in light of the new capabilities available. The coming changes are so powerful that it is both terrifying and exciting. The first phase of Internet business has principally focused on the creation of new types of businesses: The next phase will involve the impact of these developments on brick-and-mortar businesses and on the economy as a whole.

Electronic commerce as defined by Salvatore (2013) “refers to the production, advertising, sale, and distribution of products and services from business to business and from business to consumer through the Internet” (p. 150). Consequently, e-commerce is now essential for businesses to be able to compete in the global marketplace. “E-commerce is now being used in all types of business, including manufacturing companies, retail stores, and service firms. E-commerce has made business processes more reliable and efficient” (Smith, K.T., 2011, p.3). this paper will outline those perspectives in regards to the origin of E-commerce, Business to Business E-commerce, Business to consumer E-commerce, Consumer to Consumer E-commerce, and legal environment of E-commerce.

In 1969, Internet began life in the US and mainly used by government and its departments, researchers and scientists. In 1990s, the World Wide Web came into existence and that is when e-commerce was coined. From then until today, e-commerce has seen both success as well as failures (Turban, King, McKay, Marshall, & Viehland, 2008). The failure was mainly because the e-commerce field was going through consolidations and organizations were trying different models and structures (Turban, King, McKay, Marshall, & Viehland, 2008). The other reason was giants like Amazon were working on expanding their operations and generating increased sales. However, the future looks bright for e-commerce and the usefulness is starting to materialize. As e-commerce expands, these benefits will increase significantly. E-Commerce offers benefits to business organizations, individuals and the society (Turban, King, McKay, Marshall, & Viehland, 2008).

Recent advancements in the fields of Information Technology and Internet have led to exceptional renewed interest in electronic commerce. According to the writer, Nenehkaran, the definition of e-commerce, in his journal, International Journal of Scientific & Technology research, is given as, “Interaction between communication systems, data management systems and security, which because of them exchange commercial information in relation to the sale products or services, will be available, so the definition, the main components of electronic commerce are: communication systems, data management systems and security” (2013).