E-Business

Stalin A Lecturer in Management DIST

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E-commerce describes the process of buying, selling, transferring, or exchanging products, services, and/or information via computer networks, including the Internet.

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E-business refers to a broader definition of e-commerce, not just the buying and selling of goods and services, but also servicing customers, conducting e-learning, and processing electronic transactions.

E-Business Transaction Medium Most e-commerce is done over the Internet. But EC can also be conducted on private networks, such as value-added networks (VANs, networks that add communication services to existing common carriers), on local area networks (LANs) or wide area networks (WANs)

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 Electronic commerce can take several forms depending on the degree of digitization (the transformation from physical to digital). The degree of digitization relates to: the product (service) sold the process the delivery agent (or intermediary).

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Execution of E-Business
Used in various areas like 1.Useful in Advertisement-Used in marketing,advertisisng and sales 2.Knowledge relating to bank accountsbanks provide online information to its clients 3.Useful in Auction-Used for auctioning goods by sellers and buyers 4.Useful in online bookingrailways,airlines,cinemaspayment done through credit cards
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5.Useful in reatil shops-to busy books.Eg:Amazon.com,Rediff.com Elements of E-Business 1.Product 2.A Website 3.Attractive Design 4.Way to accept online forms 5.Method to receive payments

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Features of E-business 1.Anytime ,anywhere services 2.Cost Effective 3.Online Marketing 4.Way of information 5.Effective Advertisement 6.Instant srvices 7.No need for middleman 8.World level expansion

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Functions of E-Business I)Benefits to Customers Available at anywhere any time Competitive rates Better Customer Services Availability of large sellers Quick Services Purchasing at home Easy interaction

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II)Advantage to Organizations Customers are self created Middleman disappears Cost Effective Opportunities for new business Customization of products and services Search for potential business partners III)Benefits to Society Availability of information about products Online Payment Saving of time
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 Helpful for developed countries Helpful in safeguarding environment.

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Limitations of E-Business 1.Costly New innovations Changing technology 2.Lack of Information about customers habits interest and aptitude No personal contact between buyers and sellers Lack of information about customer habits interest and aptitudes
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3.Lack of faith Rising frauds and crimes in cyber world Buyer does not trust sellers 4.Insecurity of customers Due to cyber fraud Customers wont give their credit card numbers

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5.Cyber laws Cyber laws announced by Govt. of India are not clear Insufficent for the growth of ecommerce 6.Competition among sellers No of website increasing Entry barrier for new entrants 7.Change in technology New Innovations Enterprises inverting more in R&D
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8.Lack of top management support No top priority for E-Commerce Management has to make changes at top level Allocate money for adopting IT tools and building internal system

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