Complete Description about E-COMMERCE

INTRODUCTION  ABOUT  E-COMMERCE

What is E-Commerce?

          E-Commerce (Electronic Commerce E-Business or E-Tailing) can be defined as:

—  The buying and selling of goods and services on the Internet, using the World Wide Web.

—  A more detailed explanation is difficult because the nature of E-Commerce is constantly changing.

—  It involves business transactions over the Internet.

—  Recently technological developments now allow E-Commerce transactions to take place mobile phone using and television, and the marketplace is growing rapidly.

—  The Internet has become the 24-hour convenience store with a worldwide audience. Some businesses won't survive if they ignore E-Commerce.

—  E-Commerce is the way of the future, and organizations can't afford to ignore the opportunities that this fantastic new medium brings. The development and rise of E-Commerce in recent years has been the biggest challenge to face organizations.

—  E-Commerce is more than just selling on a website, and whilst the use of E-Commerce will vary widely between companies it will be driven by business needs rather than technology. 

                                                   E-Commerce Diagram

Driving Forces for E-Commerce

Ø Market and Economic Pressures

§  Strong competition

§  Global Economy

§  Extremely Low Labour Cost in Some Countries

§  Frequent Changes in Market demands

§  Increase Expectation of Consumers

§  Awareness Among Consumers

Ø Societal And Environmental Pressures

—  Government Regulations

—  Reductions in Government subsidies

—  Rapid Political Changes

Ø Technological Pressures

—  Rapid Technological Changes

—  Innovative Technologies

—  Information Overload

—  Digital Convergence

Pros of E-commerce

• Cost effective and Time saving

•  Better Productivity against competitors 
•   Consumers have an access to a wider range of products

• —  Allows small businesses to mix with the big business online 

• —  Provide benefits to suppliers of goods and services

• —  Business is Open 24 x 7 x 364 7/8

• —  Messages spreading (world wide market space)

• —  Help protect against frauds and theft losses

• —  Thinking Outside the Globe

Cons of E-commerce

• —  Purchase to Delivery

• —  Inability to Feel the Physical

• —  Trouble recruiting and retaining employees 

• —  Consumers feel less confident with their credit card numbers 

• —  Customer Service and Relation Problem

• —  Unreliable respect to Payment Method

Architectural Framework

          Components of this framework are:

Ø Network Infrastructure

Ø Multimedia Contents And Network Publishing Infrastructure

Ø Messaging And Information Distribution Infrastructure

Ø Common Business Services Infrastructure

Ø Public Policy And Technical Standards Policy And Technical Standards

THANKS AND WARM REGARDS

Shiv Gupta