The Impact of E-Commerce on Business

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The impact of e-commerce on business Electronic commerce also known as e-commerce can be defined as the process of conducting business electronically or through the internet, a website, mobile phones or the electronic data interchange. This type of business allows a customer to purchase a certain desired product from anywhere in the world. In e-commerce there exists various relationships of business transactions depending on the parties that are involved in the business process for example the Business-to-Business (B2B), or the Business-to-Consumer (B2C) electronic commerce. In the light of the above, this paper is going to explore the various benefits of electronic commerce to the various businesses that have embraced the use of technology in conducting business (Barsauskas, Sarapovas & Cvilikas 2008). Electronic commerce has benefited various firms by enabling these firms to cut on their costs of operation the use of the internet has enabled the firms to cut down various operational costs like the transportation or the costs that are incurred with the customs regulations. As compared to the conventional commerce electronic commerce has helped in the elimination of the need to have a proper storage area for the products but what a businessman is required to have is simply a reliable website. The use of electronic commerce has enabled businesses to reach out to many people by being able to expand their markets thus selling in large quantities and making huge profits (Ali & Saeed 2012). The use of the internet in the banking sectors has greatly benefited the banking industry since it helps the banks to reduce on their costs in that there will be no need of opening up more branches within a certain region as more customers opt to use the internet banking. A perfect example is the JP Morgan Chase which has integrated the use of mobile banking where a

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