- Published: October 31, 2021
- Updated: October 31, 2021
- University / College: Duke University
- Level: Doctoral Studies
- Language: English
- Downloads: 24
E-Commerce System of Existing Companies Electronic business is a critical factor in companies’ world over. Most companies, not only in the US, but Europe, Asia and the rest of the world have amicably invested in Information and Communication Technology as a strategy to study not just consumer interests but also market trends (Hinton& Barnes, 2005). Besides, sharing, partnering, creating awareness and educating customers are among the functions of e-business.
Before we delve much into the report, it is imperative that we first understand what e-business is. E-commerce and e-business are terminologies that are in most cases used interchangeably. Business, first and foremost, is a commercial, industrial or mercantile activity by a person(s) or company. E-business refers to carrying out the above-mentioned activities via the internet; that is, online. E-commerce, however, is a narrower term-only referring to buying and selling goods and services online.
This report will amicably evaluate gains made from e-business and any information and communication technologies. In the research, I will target the Google Corporation based in California-USA. The challenges facing the electronic business, in a nutshell, will be outlined.
Benefits of e-business
How does e-business increase efficiency in the IBM Corporation?
According to business world statistics, most of financial valuation of e-business is attributed to transactions that involve one business and another (Hinton and Barnes, 2005). Efficiency and effectiveness in terms of reaching out to consumers globally, market changes and information dissemination has been realized by the firm.
Secondly, business to consumer growth was achieved in the corporation (Hinton& Barnes, 2005). According to the European Commission, 98% of the firms in the USA with e-business or e-commerce in infrastructures in place made up 14% of business turnover (Hinton& Barnes, 2005). Time taken to do business transactions was reduced in the Google Corporation. Receipts, according to the study, were generated accurately within in time. This was time saving compared to earlier times when done manually.
Information on Google website, according to study spreads faster. This made it impossible for smaller companies using print-based catalogs to compete in disseminating information. This gave the firm a competitive advantage in business. The prices, for example, of consumer prices are among the items posted on the web.
Despite all these benefits that accrue to the use, e-business is not without challenges. High-tech crimes such cyber-crime, threaten to jeopardize the business life of corporations in the US (Hinton& Barnes, 2005). Parallel sites insinuating to be original service providers have at once threatened Google Corporation.
In conclusion, the future seems brighter. Browsers used by companies today have not only inbuilt security but also are being awarded digital licenses. These, solve security concerns of business activities via the internet.
Hinton & Barnes (2005). ‘Towards a framework for evaluating the business process performance of e- business investments’: International Journal of Business Performance Management,Vol.7 No. 1 pp.87-99