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What
is E-Commerce?
In
an increasingly competitive global marketplace, it is extremely
important for businesses to embrace the latest methods and trends to
conduct their businesses. With the advancement of technology,
particularly the Internet, the world has discovered a new path of
opportunities, switching the transactions of traditional business
models into a better model far superior in terms of efficiency,
productivity, profitability and competitiveness. This is where
e-Commerce comes into the picture in which is simply a short form
for "Electronic Commerce". e-Commerce is generally the
"in-thing" today, which concept covers the global
information economy which include electronic trading of goods and
services, electronic fund transfer, online procurement, direct
marketing, electronic billing, etc, through the internet via the
computer. e-Commerce does not change the core of businesses, which
is to generate profitability from transactions, but it is to change
the mindset of how to go about generating profits through an
efficient manner. This simply means obtaining information at our
fingertips, without wasting time, money and effort, and also to
conduct real time transactions in a "borderless world" 24
hours a day, 7 days a week. With e-Commerce transactions, it is a
Win-Win situation for the parties (both buyers and sellers)
participating in it. It offers distinguished benefits such as less
overhead expenses, larger advertising market exposure, and reduces
middle man participation and all these benefits are easily
understood and quantifiable.
e-Commerce
itself is categorized into several sections. Among the sections are
Business-To-Business (B2B), Business-To-Consumer (B2C), and
Business-To-Government (B2G).
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