Emerging Trends in Information Technology (ETIT)

Chapter No. 5 E/M-Commerce What is E-Commerce? DEFINITION Sharing business information, maintaining business relationships and conducting business transactions using computers connected to a telecommunication network is called E-Commerce. Or Any form of business transaction in which the parties interact electronically rather than by physical exchanges of documents or direct meetings amongst officials. E-commerce is simply ‘ doing business online ’ Or E-Commerce is buying and selling of goods and services on the Internet. Main Activities of Electronic Commerce Buying and selling of products Shopping of products Producing financial statements Doing business online Buying products and services through web store fronts Over internet, intranet, extranets and other networks Broad goals of Electronic Commerce Reduced costs Lower product cycle time Faster customer response Improved service qual