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Questions
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?
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Solution 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.
- E-business encompasses the use of technologies, processes, and management practices that enhance organisational competitiveness through the strategic use of electronic information.
- 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.
- 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.
- 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.
- 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.
Solution 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.
Notes
Students should refer to the answer according to the question and preferred marks.
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