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E-COMMERCE AND MORDERN WORLD
Science has contributed one wonder after another day by day in the world. Computer is one of the most useful inventions of modern science. With technology progressing the way it is, and with people’s lives not getting any less busy, more and more people will shop online, and many traditional businesses will struggle unless they keep up.By opening computer, logs on to the internet, clicks a few times and within a few moments we may take the world in our hand and can go to the new world of E-Commerce. The internet has brought about a revolutionary change leading to convergence of communicative and computing technologies.
E commerce proved its significance based on the statistic where time is essence. In the commercial marketplaces, time plays a significant role to both the business and customer. From the business view, with less time expended during each product sale, more sale can be achieved on the same day. As for the customer, they will save up extra time during their product purchase. With just a few clicks in minutes, a transaction or an order can be placed. This fact clearly proves that E commerce is useful to both business and customer wise as payment and documentations can be finished with greater efficiency.
E-Commerce may be defined as a dynamic set of technologies, applications and business processes link enterprises, consumers and communities through electronic transactions and the electronic exchange of goods, services and information. "E-Commerce is not limited to the shopping on the internet. It encompasses all the aspects of running a business, from advertising and marketing to sales, ordering, manufacturing, distributing, customer's service and inventory procurement.
E-Commerce can have a very profound impact on corporate strategy because it not only changes the way a company interacts with its customers but also changes its suppliers, partners, employees or investors. In fact, electronic media have brought about a revolution in the field of business and commerce. A few years back it was beyond our imagination. Electronic media have changed the expectations of all concerned persons in the field of commerce. Day by day E-Commerce is becoming popular all over the world.
In recent years there has been a virtual explosion in the realm of global information and marketing, as exemplified most vividly by the onset of the internet, electronic communication and the world wide web. Between 1990 and 2000 the estimated number of internet users grew from around 1 million to 300 million. This explosion has had a major impact on commercial activities, as firms realize the potential of the Internet to reach a consumer audience beyond the reach of traditional marketing means. The increasing popularity of the web as a vehicle for commercial and marketing enterprises is due mainly to its current size and potential for future growth and expansion. Its global demographics and its ability to facilitate global sharing of information, resources, goods and services make it an attractive medium for consumers, businesses and government.
E-Commerce is very important in the age of science, technology and internet. E-Commerce has given the facility of making on line transactions. Producers and customers are not required to talk face to face or customers are not required to go to shops for buying products or services. They may get their required products or services staying in their houses. It presents a lot of advantages and challenges for all parties involved. For consumers the benefits of E-Commerce are multi-folded including increased availability of information about products. E-Commerce also includes the enormous, potential of the web as a distribution channel, a global medium for marketing communications, lower distribution costs, as the use of middle men no longer becomes essential. Lower marketing costs as buyers and sellers are able to communicate in a direct with each other. Operational benefits such as reduced errors, time and overhead costs in informational processing; and easier, faster and cheaper creation of an entry info new markets. E-Commerce is important for many reasons because it provides, the country's products and investment potentially on the world serene; a support of a new form of commerce that benefits all classes of society. It also increases foreign export earnings and tax revenues.
E-Commerce means, an electronic commerce, The world has dynamic technologies for international trade and commerce. So man can run various businesses sitting at home through it.