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E-commerce (Essay Sample)


E-commerce: its developments and future perspectives


E-commerce: its developments and future perspectives
E-commerce: its developments and future perspectives
E commerce (or Electronic Commerce) is the new kind of trade carried out on mass and online markets via an electronic platform, in particular on the internet. It is considered as a major and global tool for trade in today’s business environment. According to Watson et al., E-Commerce (EC) is "the use of networks and Internet technology for communications and transactions between various groups of stakeholders like businesses and consumers”[Richard, Watson T., Pierre Berthon, Leyl and F. Pittand George M. Zinkhan,. Electronic Commerce: The Strategic Perspective, Dryden, Fort Worth, TX. 2000.]
E-commerce enables buyers and sellers of goods and services to establish real time communication regardless of their geographical locale and so a creating convenient business relationship. The greatest aspect about the future of E-commerce is that its limits and full capabilities remain untapped. This leaves all stakeholders involved with objectives and a vision to realize and experience the growing trends in E-commerce and its impact on business in general. The practice grew from transactions of online retail business and it has witnessed continuous innovations recording a remarkable trend over time. It has expanded from circles of developed economies to be a global movement creating numerous employment opportunities in its way. However, a few critics have expressed disapproval of E-commerce’s rapid development citing that it has become too wide and complex resulting in increments in durations consumers take to make purchases due to the vast variety of choices that make it difficult to narrow down to particular options.[Ibid.]
E-commerce has developed wi...
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