The business world has become increasingly difficult to become successful in. In order for organizations to overcome this difficulty, they must be able to explore other business-related options. It is essential that their operations are fast and efficient, while simultaneously maintaining strong customer relations. One option that has recently proven to be an effective aid for businesses to progress is Electronic Commerce. It allows unlimited business hours due to its around the clock operations, lower labour costs than a traditional business, and exposes the business through a larger market by means of the World Wide Web. With our ever-changing society undeniably striving for technological advancement, E-commerce has become an effective method of conducting business.
Electronic Commerce is defined as "The conducting of business communication and transactions over networks and through computers. As most restrictively defined, electronic commerce is the buying and selling of goods and services, and the transfer of funds, through digital communications.
What's in the bag? Business of Software 2010
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"moo business cards"However E-commerce also includes all inter-company and intra-company functions (such as marketing, finance, manufacturing, selling, and negotiation) that enable commerce and use electronic mail, EDI (Electronic Data Interchange), file transfer, fax, video conferencing, workflow, or interaction with a remote computer" (Dictionary.com). Similar to a traditional business, E-commerce involves the buying and selling of goods and services; they differ only through their means of these transactions. A traditional business is restricted to face-to-face dealings, whereas the transactions of E-commerce are done solely through digital communications. A typical E-commerce transaction is as follows. First the customer must have interest in a product and find it online. Once he/she is satisfied with the located product, a credit information form is filled out complete with credit name, mailing address, phone number, email address, and credit card number with expiry date. This information is then sent in and checked by...