Electronic Commerce Essay - 1144 Words

Analyze the role of EC in the modern business and social environments. Identify three international barriers to EC and evaluate their roles in the success of EC. This assignment tests your analytical and critical thinking skills and your ability to synthesize concepts around topics. The paper should be in APA format, 2-3 pages (not including reference page), with at least two references. With the introduction of internet, Ecommerce has taken its supreme position in Today’s industry. Ecommerce essentially means trading products and services by using computer through internet. It has three important factors- Technology, Law Policy and finally Business Ecommerce was introduced in 1970s and, from then, its use has been exponential†¦show more content†¦Role of E-commerce in the Social environments: 1. The major role of social media in E-Commerce is to promote brand awareness. 2. Social media helps passively showing that the brand interacts with their customers and is easily reachable. 3. Social media has cemented itself in today’s society and changed the way many of us communicate. Not only has it affected the way we interact at an individual level, but it has also started to impact the way companies do business. E-commerce reduces delivery time and labor cost thus it has been possible to save the time of both – the vendor and the consumer. Economic Effects of Ecommerce: 1. Reduction in transaction costs in Ecommerce compared to traditional commerce as Ecommerce removes the traditional geographical and time barriers. 2. Ecommerce is of tremendous advantage to a layman, who does not understand the product- which is new into the market- Ecommerce helps him make a decision by comparing the prices online and allows this comfort at his home rather than driving to different locations and accessing the similar product at different stores. 3. Additionally another main advantage has been shipping of the product to home which saves costs of transportation and time for the buyer. Business Effects of Ecommerce: 1. Various retail stores of a particular product are now connected online and they would have a better idea of the costs incurred to get the product from theShow MoreRelatedElectronic Commerce1202 Words   |  5 PagesElectronic Wallets are Secure Introduction The idea for paying for goods and services electronically is not a new one. The search for more efficient ways of doing business is now driving another revolution in the conduct of business and in our concept of money. 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Introduction: Electronic commerce (EC) provides a cost effective technique for organizations to marketplace their business, improve communication, identify potential business partners, and launch new way to their customer to purchase products online. Online buying is the process of selling and buying goods or services by using computer via internet. Since the development of www (World Wide Web), vendors have looked for a way to sell their goods and products to people who like to spend time on