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E-commerce A term that refers to the growing retail service and business to business industries on the World Wide Web Marketing Strategy Training Research Practice and Services among other topics that are related to E-commerce E-commerce websites facilitate the buying and selling of goods and services over the Internet This includes both electronic sale internet shops and B2B transactions ie business between two companies E-commerce can be conducted using many electronic methods but it is the advent of the Internet that has fuelled the explosive growth in this form of commerce E-commerce is generally divided into two segments business-to-consumer B2C and business-to-business B2B The biggest potential market by far for e-commerce is business-to-business By the year 2005 business-to-business sales will account for over 85 of total purchases on the Web accordingly the volume of Internet commerce will be much higher Advantages of e-commerceDisadvantages of e-commerce Replaces paper-based processesSecurity risk Resulting in lower costsRequires expensive equipments Greater accuracyRequires specialized labour Higher speed Larger scale inter-company collaboration The world is ever changing and as it changes so too does the business environment Global politics and economics affect the very nature of business There is rapid growth in international trade and an emerging global economy This means that there are unprecedented opportunities to tap into new markets but at the same time the traditional market is changing There is increased competition from companies that are able to conduct their business across borders There are no regulations or laws or government bodies that oversees e-commerce and the Internet Companies are faced with reduced profit margins and higher customer expectations This leads to a new era of increased and very different competition as these changes are coupled with rapid advances in technology Faster processors and new capabilities are introduced every day and companies are spending incredible amount of money on information technology without really knowing whether it is helping them Information has become a valuable commodity The
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