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E-COMMERCE A GLOBAL OPPORTUNITY In a world brimming with the pressures of economic stabilization and financial gratification companies must adopt the methodologies of e-commerce in order to attract growth and prosperity E-commerce defined as The application of advanced information technology to increase the effectiveness of the business relationships between trading partners by the Automotive Industry Action Group of North America is a realistic tool which enables companies to evolve electronically into a corporation better suited to serve their customers E-commerce involves implementing regular business operations into a telecommunications network The most common form of conducting business online is through web pages Companies create these web pages usually with the help of such design companies as NetDynamics which allow customers to order goods and services from the convenience of their own home Most new sites also allow secure financial transactions to be made E-commerce is also used in the form of EDI or Electronic Data Interchange This form of online business acts as a messaging system which automates and speeds the exchange of information between two linked companies This format is usually found in the user-supplier community and automatically informs the other party of needed supplies arrival dates and payment information The use of e-commerce technology presents many opportunities to companies regardless of size to expand and profit in the global marketplace Large corporations such as Intel Corp and Dell Computers have successfully used e-commerce to propel growth For example Intel reports that it sells over 1 billion worth of products monthly over its website This outstanding figure accounts for 40 of Intels total sales As well Dell claims to sell 14 million in products each day over its e-commerce setup Another large corporation Boeing used the Internet and other telecommunications medians to establish an international network for designing its flagship the 777 Japanese engineers who were working on portions of the fuselage and wings were linked to foreign team members across the Pacific
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