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Word Count: 2,190
E-commerce in the new millennium Electronic commerce is the paperless exchange of business information using electronic data interchange EDI through means of email electronic bulletin boards fax transmissions and electronic funds transfer The concept of e-commerce is about using the internet to do business better and faster it refers to internet shopping online stock and bond transactions the downloading and selling of soft merchandise software documents graphics music etc and business to business transactions E-commerce is about giving customers controlled access to a businesses computer system and letting them serve themselves The internet is also a way for a consumer to communicate with a companys computer system without human intervention The internet is a communication medium like the many others we use in business every day it is also a reasonable alternative to all other means of communication Every era of business has new strategies and new ways of doing business through radio and television came the first mass-marketing advertising With the introduction of the internet changing business the rules for corporate strategy held for the last 50 years have begun to crumble There are some elements of regular commerce that are necessary for any transaction to take place they also apply to e-commerce First whether you are conducting business in the real world or online you have to have a product to sell or service to offer Then there must be a place from where business is conducted in the world of e-commerce the place from where business is done is the website For businesses that already exist in regular commerce adding a website is a way of enhancing the business for Internet startup businesses the website is the only place where business is conducted In order to do business the company also needs a way to take orders and process payment With e-commerce orders have to be placed and items shipped orders are usually handled with interactive online forms Payment is another issue
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