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E-commerce is another name for electronic commerce. It presents what a lot of people consider to be an effectual property of the World Wide Web (WWW). The property of the web is the capability to change sites according to the diverse needs, wishes, requests and, even characters of each unique purchaser. The mounting competition globally, growing demands of customers and the fast pace of transformation in technology are compelling businesses to assess the system of doing business, what types of goods and services they put forward, and the swiftness of the goods released to market.
The term e-commerce is simply defined as transacting through electronic means.
Gathering, relaying and exchanging information electronically are all covered by e-commerce. Electronic media used for e-commerce can be through the internet, telephone or fax machines (Dunt and Harper, 2002). At present, these e-commerce methodologies are very significant in the business field, thus, the interchangeable term, e-business, was introduced. The scope of e-business covers various business and marketing processes that are performed through networks mediated by computer systems.
The use of electronic business processes allowed organizations to carry out more efficient activities, including buying and selling processes, production and management.
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The basis of e-business is on the processing and transmission of digitized information such as sound, text and images from one computer to another electronic instrument or device. The Way Ahead When e-commerce began to emerge in 1996, its first wave of applications concerned business-to-consumer (B2C) transactions which took off with amazing speed.
While much of the early focus regarding the internet's commercial potential was on B2C transactions, investors soon got drawn to business-to-business (B2B) applications.
Early on in the life cycle of e-commerce, it became evident that many sectors could benefit from the internet as a centralized mechanism of information-gathering. However, B2B e-commerce has already pushed far beyond simple information-gathering and streamlining of orders.
Several technical challenges have surfaced and must be overcome if e-commerce is to continue growing at the current phenomenal rate. The primary challenge is to create enough capacity to accommodate increases in traffic. Internet traffic is increasing as more people become e-commerce users and existing users send greater amounts of data. If the volume of traffic increases faster than the capacity of the network increases, congestion will occur, similar to the congestion that occurs when too many cars attempt to use a highway.
To avoid congestion, researchers have developed technologies, such as Dense Wave Division Multiplexing (DWDM), that according to Jacobs ; Yudken (2003) transfer more bits per second across an optical fiber. The speed of routers and other packet-handling equipment must also increase to accommodate growth. In the short term, researchers are developing faster electronic processors; in the long term, new technologies will be required.
E-commerce Evolution: Transforming Business Landscape. (2020, Jun 02). Retrieved from https://studymoose.com/future-of-e-commerce-new-essay
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