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E Commerce And Its Role In Developing Countries

3104 words - 12 pages

Earlier, there were two ways of buying a novel: Order it via a catalogue ,a book club or purchase it from a shop. But today, you can sit at home, use the internet and surf online. Go through a collection of books form a site (Barnes and nobles) and order one of your. You pay for the book online and it is delivered to you online or physically. This is exactly what happens for other goods and services bought on the internet. And this is what is termed as "E-commerce."As per Julia Nielson and Rosemary Morris, authors of "E-commerce and trade: resolving dilemmas", e-commerce is the production, sales, advertising and distribution of products or services through telecommunication network .E-commerce brings in the whole industry and activities like applications, producers, information exchange, and economic exchange under one word called the "internet".E-commerce is highly dependent on the technology. Example: interconnectivity among satellites, telecommunications, cables etc. E-commerce needs to keep in mind the process infrastructure, which involves the various means of making payment, distribution and delivery over the internet possible. Certain standards have to be maintained if a country wants to indulge in e-commerce . Example: privacy disclosure and maintaining connectivity standards. Countries like India, Africa will have to follow certain rules and regulations to protect privacy, to maintain connectivity and authentication globally.E-COMMERCE and INTERNATIONAL TRADE AND FINANCEEarlier ,we had to show up at the market with currency to buy a product. But today, we don't even need to be physically present at the market nor do we have to have the good physically present for buying and selling. E-commerce has evolved the traditional trade and market place. It is a major step in the evolution of business transactions.It has had a major impact on international business practices, blurred the differences in time zones, production and trade can be conducted round the clock and across continents.E-commerce uses internet as its major tool. It is a valuable medium for international trade as it reduces communication costs, reduces time-to-market for goods and also exports services. Internet can deliver information in any sort of digitalized format at a low cost to any location in this world. The firm can then pass on this information to its customers in the form of lower prices. In cross border trading, it helps in the supply chain area of goods and services by cutting overhead costs associated with transport, sales and distribution. The internet also creates new opportunities to raise service levels, which are increasingly the key to successful business-to-business and business-to-consumer trading .E-commerce simplifies processes, reduces costs, and makes them more efficient. For example: Air Arabia uses online booking system and ticketing for its operations. In this way it reduces its costs and has more time to market as compared to the other airlines...

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