Essay On E Commerce

2200 words - 9 pages

E - Commerce; a Brief OverviewIn today's unpredictable, ever changing market, where many businesses, from small entrepreneurs to giant corporations, with the help of technology development, have been looking forward for other business alternatives in order to enhance their productivities as well as profitability. The most preferable alternative is by implementing Electronic Commerce as part of their business activities. Firstly, let us define what E-commerce is. According to Turban et al (2000), e-commerce is an emerging concept that describes the process of buying and selling or exchanging of products, services, and information via computer networks including the Internet. On the other hand, McLeod, Jr. (1998) defines electronic commerce as the use of computer to facilitate all of the firm's operations.Every era of business yields new strategies and new ways of doing business. With the introduction of radio and television came the first mass-market advertising. Now, the Internet has so radically changed business that the rules for corporate strategy that held for the last 50 years (since the dawn of television) have begun to fall apart.There are some elements of commerce that are necessary for any transactions to take place, which should be available for regular bricks-and-mortar commerce as well as for e-commerce. First, whether a firm is doing business online or in the real world, it must have a product to sell or a service to offer. Then, the place from where to do business should be considered. In the conventional world of commerce this can be a physical store. In the world of e-commerce the place to do business is the Web site.Most businesses already exist in the bricks-and-mortar world of commerce. Adding a Web site is a mean to enhance their business. For Internet startups, the Web site is the only place that they do business.In both regular commerce and e-commerce we need to find a way to attract customers to the place of business. This is done by various marketing strategies and everything from advertising to word of mouth.In order to do business, we also need a way to take orders and process payment. In a retail store there are no orders. Customers simply find the products they want, get in a line at the register, and pay the cashier. In e-commerce, orders have to be placed and items shipped. Orders are usually handled through interactive, online forms. Money is another issue easily handled in traditional commerce. Customers in a retail store pay by check, cash, or credit or debit cards. Online customers cannot pay by cash or check, only through electronic means. Also, there are issues of security that surround online payment that do not come into play in the traditional bricks-and-mortar world. E-commerce transactions have to take place through secure electronic connections and special merchant accounts for accepting payment.Once payment is collected, delivery of the product must take place. Implementation in traditional stores is as...

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