What is e-commerce?

Electronic commerce is the performance of business activities electronically over computer networks (Turban, Lee, King and Chung, 1999). Timmers (2000) adds to it by defining electronic commerce as a way of maintaining relationships of business, exchanging business information and performing transactions of business by means of telecommunication networks. To explain in detail, electronic commerce consists of several transactions of business executed electronically between organizations, customers to other customers, public sector of citizens and also from organizations and customers.

Some of the definitions of ecommerce are given below

“Electronic Commerce denotes the selling and buying of services, information and products via the PC networks consisting of internet (Ecommerce development).”

“Ecommerce is the technology of application for business transactions and workflows automation (Basu, 2007)

Goel (2007) says that “Ecommerce is also a system which joins the information systems resources with the reach of connectivity of network to link the major constituents of business directly such as businesses and customers to develop the efficiency of elements and structures of commerce.”

“E-commerce is where the transactions of business take place through telecommunication networks specifically through online (Qin, 2009).”

“Ecommerce is also referred as the financial transaction performance by means of electronic medium (Bhunia, 2006).

“E-commerce also offers the potentiality of selling and buying of information and products on the services of online and on internet (Vulkan, 2003).”

“E-commerce is about doing businesses electronically (Gangopadhyay, 2002).”

Thus it can be concluded that E-commerce has paved a way for developing new ways of doing business and even new types of business. Electronic commerce consists of funds transfer and consumers making electronic payments. Besides, Ecommerce also incorporates management of transaction which routes, tracks, processes and organizes transactions. These benefits have made electronic commerce an indispensable way of conducting business at present.

References

  • Turban E, Lee J, King D and Chung H M (1999), Electronic Commerce: A Managerial        Perspective. Prentice Hall, New York
  • Timmers P (2000), Electronic Commerce – Strategies and Models for Business-to-Business          Trading. John Wiley & Sons, New York
  • Ecommercedevelopmentweb (2010), What is E-commerce and it’s advantages? [internet]           available at URL http://www.ecommercedevelopment-            web.com/component/content/article/36-general/47-what-is-e-commerce-and-its- advantages.html/ [accessed on March 20, 2012]
  • Basu S (2007), Global perspectives on e-commerce taxation law, Ashgate Publishing, England
  • Gangopadhyay A (2002), Managing business with electronic commerce: issues and trends, Idea Group Inc, USA
  • Qin Z (2009), Introduction to Ecommerce, Springer, Beijing.
  • Vulkan N (2003), The economics of e-commerce: a strategic guide to understanding and             designing the online marketplace, Princeton University Press, New Jersey

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