Essay on Impact of e-commerce in business
Everybody now familiar with the concept of what exactly a e-commerce is, the definition itself tells what exactly electronic commerce is so electronic commerce is basically the process of buying selling transferring or exchanging products services or information through computer network in the internet.
So basically we are doing the commerce online with the help of computer networks telecommunication systems and Internet so this ecommerce has impacted a lot on various business models there that we are running since years and years these impacts here we have categorize into four parts.
The impact of e-commerce on business
Then impact on direct marketing and product promotion
Then impact on the organization's technology and organisational learning
The impact on Finance of the business models.
What is the impact of e-commerce in business models?
The first thing is the impact of we commerce or business as we know that the Internet has changed many aspects of our life including the way we communicate with each other how we keep our finances and how we do financial transactions as we are now much more interested of being transactions financial transactions with the help of internet
If you are doing transactions with the help of Internet financial transactions obviously you will choose to purchase your product online with the help of internet and you simply really interest you are interested to pay the money for your product online you don't want to go to a particular shopping or mall
Then you go and purchase the fruit of influence of that people now in not getting that much time to spend the time for going for shopping personally to particular place and paying the money from their purchase an influence of that people are sitting at home or offices and using the this new Internet technology surfing various electronic commerce website
But purchasing their product so the benefit here is that they can compare online whenever they wanted to purchase the product they simply compare the product on different websites on the basis of its price and discount rates its specification and when finally they are satisfied with the product details and cost they are simply ordered to a particular website for selling the product.
So the company is now is spending more money for electronic commerce the sites and the small businesses are simply shutting down the for this any commerce forces retailers to open online division and it can completely
It can also force a small businesses to shut their doors or change to being completely online and it also changed people way of spending money with the help of Internet we re spending money now sound undoubtedly
it will country continue to influence how companies sell and market their product as well as how people choose to make purchase for many years to come the the second impact of electronic commerce is in marketing and promotion area of the product
so the electronic commerce simply improves promotion of products and services through direct and attractive and interact to contact with customers and new sales channel ecommerce creates a new distribution channel for existing products.
This electronic commerce facilitates direct
reach of customer and the bidirectional nature of communication which customer can add any instant of time as to the seller can how can ask many queries and the seller will the merchant will respond to those Curie's to satisfy their customers.
so we do to this bidirectional communication between the customer and the merchant they simply save the time and satisfy the customer to to a substantial extent so that the customer can purchase the product
In the the third area in which the e-commerce has impacted that is nothing but impact on organizations technology organizations learning
now we know that whenever we there then there is a business organization whatever technology they are using in that offices they have to teach these technologies to death fresher freshly appointed staf member and they simply kept keep tutors
This they used to teach the technologies that are present in the company to their newly appointed cust staff members as the things are simply change now there is no traditional process of being the former but these companies has to no doubt teach their employees all these technologies and they have to keep a the a complete department IT cell.
Where they have to prepare the material electronic material and then they have to feed their staff members how to use their software and the financials office and marketing software promotional software and think build software how to manage the databases online.
This way they have to teach you can say that with the help of this electronic commerce now the company has quickly adapted new technologies and it offer them an opportunity to experiment with new products services and processes
To be more flexible and responsive to the market new process must be put in place this type of corporate changement planned and managed
Then the third and most important impact of electronic commerce in the regional in the area of Finance
E-commerce requires special finance and accounting systems surely because you are bling commerce online so you require online transaction systems weekly you if you have things our initial transactions of faith then is possible to electronic comma operate services electronically
As a merchant if you don't have your bank account online then you cannot tell your customer to transfer that money from these account to your account.
so you require only facility of rejection of financial transaction by financial transactionfacility to your accounts the use of this new payment system that is online transfer such as the electronic cash is complicated because it involves legal issues remains an international standard.
Electronic payment system has changed the manner in which payments are being paid in many ways electronic cash which can be backed by currency or other assets represents like electronic checks represents the biggest revolution in the fitness industry.
So no doubt by purchasing selling sorry by selling or purchasing product offline you require manual transaction of money in the form of currency notes where there in the online transaction purchase sale and purchase you require online transaction and for that there are very many legal issues that are there in the international market and you have to keep your business's acting international standard.
So that anyone sitting at any place wanted to purchase something from your company can simply your website and search for a particular product and if he isn't ready he can place order so and can send money electronically. so It have a system to deal with this electronic data and you have you should have the IT cell that keep security safety of your transactions and product and services.
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