The Impact of E-Business

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THE IMPACT OF E-BUSINESS The term e-business means any business process that relies on automated information system, which today is mostly done with the web based technologies. It was first coined by Lou Gerstner, CEO of IBM. The concept of e-business takes into account all the aspects of use of information technology in business. Apart from buying and selling, it also includes servicing customers, collaboration with business partners and engages incorporation across business process and communication within the organisation. The basic definition of e- business is doing business with the help of internet. A research by Forrester research and cowls/samba information showed that in 1994, 240 million dollars worth of business was done on the internet and it quadrupled and rose to 993.4 million US dollars in 1996 and it has touched 10 billion US dollars in 2000s. Most of the companies have realised that internet is a big electronic market and companies like Google, Amazon and ebay are prime examples of e-business. Most of the companies nowdays have their own website and business on internet has been adopted by large and small organisations. Most companies have realised that the internet is a long term thing and will is here to stay. Corporate leaders have become conscious of the fact that in order to maintain the competitive edge they must become e-business as well. E-business now is not a new concept. The current state of e-business started taking its shape at the beginning of this century. The growth and its impact have been dramatic and will continue to be so. It is promoting a new, borderless global economy which is not only a technological issue but also a new approach of doing business. In brief, organisations are

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