E-Commerce in Business

STAMFORD UNIVERSITY OF BANGLADESH

* ASSIGNMENT 0N E-COMMERCE IN BANGLADESH

* SUBMITED TO: MJF RUPOM

* SUBMITED BY: MD SAHAJALAL (MAHADI)

* ID NO:BBA 04814818

* BATCH: 48(A)

In the emerging global economy, e-commerce and e-business have increasingly become a necessary component of business strategy and a strong catalyst for economic development. The integration of information and communications technology (ICT) in business has revolutionized relationships within organizations and those between and among organizations and individuals. Specifically, the use of ICT in business has enhanced productivity, encouraged greater customer participation, and enabled mass customization, besides reducing costs. However, this is premised on strong political will and good governance, as well as on a responsible and supportive private sector within an effective policy framework. This primer seeks to provide policy guidelines toward this end.

E-BUSINESS

E-business is the use of the Internet and IT to execute all of the business processes for the firm. E-business includes e-commerce, all internal processes, and coordination with business partners such as customers and suppliers'-business refers to the use of digital technology and the internet to execute the major business processes in the enterprise. It includes the activities for the internal management of the firm and for coordination with supplier and other business partners. It also includes e-commerce. E-business is the conduct of business on the Internet, in supply-chain planning, tracking, fulfillment, invoicing, and payment. It includes buying and selling as well as serving customers and collaborating with business partners.

E-COMMERCE

E simply means anything done via the internet and commerce means buying and selling products, services and information.

So, E Commerce refers to the process of buying and selling or exchanging of products, services, or information via computer networks including internet.

E-commerce is the online process of developing, marketing, selling, delivering, servicing, and paying for products & services transacted on internetworked, global marketplaces of customers, with the support of a worldwide network of business partners.

Electronic commerce is the paperless exchange of business information using electronic data interchange (EDI), e-mail, electronic bulletin boards, fax transmissions and electronic fund transfer. It refers to Internet shopping, online stock and bond transactions, the downloading and selling of "soft merchandise" such as software, documents, graphics, music etc (Business town.com).

KEY CONCEPTS IN E-COMMERCE

Digital goods: Digital goods are goods that can be delivered over a digital network.

* E.g., Music tracks, video, software, newspapers, books

* Costs of delivery over the Internet very low

* Marketing costs remain the same; pricing highly variable

* Industries with digital goods are undergoing revolutionary changes (publishers, record labels, etc.)

Digital market: In Digital market, consumers and suppliers can 'see' the prices being charged for goods, and in that sense digital markets are said to be more 'transparent' than traditional market.

ELECTRONIC COMMERCE FROM THE DIFFERENT PERSPECTIVE

Communication Perspective: Electronic Commerce is the delivery of the information, products/ services, or payments over the telephone lines, computer network, or any other electronic means.

Business Process Perspective: EC is the application of the technology toward the automation of business transactions and workflow.

Online Perspective: EC provides the capability of buying and selling products and information on the internet and other online services. Service Perspective: EC is the tool that addresses the desire of firms, consumers, and mgt to cut service costs while improving the quality of goods and increasing the speed of service delivery

COMMON DENOMINATORS OF E-COMMERCE

It extends beyond the boundaries of a single enterprise.

A full range of on-line business transaction is now possible. Every business of the world becomes accessible to other businesses via computer.

It can be applied to almost all type of business relationship.

The buyers and sellers from companies large and small can meet on equal term.

Buyers can browse multimedia catalog, solicit bids, and place orders.

Sellers can respond to bids, schedule production, and coordinate deliveries.

Intermediaries can entire the market place with value added services such as specialized directories, brokering, and referral and vendor certification.

BENEFITES OF E-COMMERCE

For Consumers

Reduced Prices

Global marketplace

24 hour access

Larger Purchase per transaction

For Business