Question

Explain the following term/concept.

E-business

Briefly explain the following:

e-business

What is the meaning of e-business?

What is meant by e-business?

Answer 1

1. E-business is the conduct of business on the Internet. It involves not only buying and selling but also servicing customers and collaborating with business partners.
2. E-business encompasses the use of technologies, processes, and management practices that enhance organisational competitiveness through the strategic use of electronic information.
3. It goes beyond e-commerce by integrating e-commerce tightly with business operations to improve performance, create value, and enable new relationships between business firms and customers.
4. E-commerce enables business firms to reach customers worldwide who have access to the Internet. Therefore, the whole world has become a potential market for business enterprises.
5. A website is open 24 hours. It can take orders, keep an eye on delivery of goods, and receive payments at any time. A business firm can provide desired information about its products and services to customers. It can also display three-dimensional images of its products on the Internet.
6. For the customers, the whole world becomes a shop. They can look at and evaluate the same product on different websites and make the best choice. There are no limitations on inventory and space.

Answer 2

Electric business, or e-business, is just doing business over the Internet. E-business is any kind of business deal where buyers and sellers interact with each other over the internet or a telecommunication network.