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Electronic Commerce

Updated on September 29, 2009

Electronic Commerce has been defined by the different point of views which are given below:

1.     From a business process perspective

Electric Commerce is the app1ication of technology towards the automation of business transactions and workflows.

2.     From a Communications Perspective

It is the delivery of information, products services or payments via telephone lines, computer networks, or any other means.

3.     From an online Perspective

E. Commerce provides the capability of buying and selling products and information on the Internet and other online services.

4.     From a Service Perspective

It is a tool that addresses the desire of firms, consumers and management to reduce service costs while improving the equality of goods and increasing the speed of service delivery.

Electronic commerce has opened a new Universe for consumer and organization, and it demands new management approaches. If exploited cleverly, electronic commerce has the potential to increase corporate profits through better costumer acquisition and retention, new information-based products and services and more efficient operations.

However, companies must reconsider their strategy, products and business processes in order to develop a cohesive management approach.

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    • prasadjain profile image

      Dr.S.P.PADMA PRASAD 

      8 years ago from Tumkur

      Yes, what you have told about e-commerce is true.

    • Waren E profile image

      Waren E 

      9 years ago from HAS LEFT THE BUILDING............

      Nice article!

    • i imi profile imageAUTHOR

      i imi 

      9 years ago

      Lady_E

      kbennett51770

      Rubes

      Thanks for your words to all

    • Rubes profile image

      Rubes 

      9 years ago from Somwhere up high

      Great article. What type of management approaches do you think would work?

    • kbennett51770 profile image

      kbennett51770 

      9 years ago

      Thanks for visiting my Hub! I like your articles they are very well put together and informative :)

    • i imi profile imageAUTHOR

      i imi 

      9 years ago

      thanks for sharing

    • Lady_E profile image

      Elena 

      9 years ago from London, UK

      Very useful to have. Paypal have also now made it very easy to accept payments online. Thanks. :)

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