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Chicago
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Business & Marketing
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Essay
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English (U.S.)
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Topic:

E-Commerce: Its Development and Future Perspectives (Essay Sample)

Instructions:

This essay discuses E-commerce in terms of its development over years and its future perspective.

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Content:

E-COMMERCE: ITS DEVELOPMENT AND FUTURE PERSPECTIVES.
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Definition of E-commerce
E-commerce also referred to us electronic commerce, can be defined as: the use of the Web and the Internet to carry out business transactions. A more comprehensive definition would be: Electronic commerce involves digitally enabled commerce transactions between and among businesses and individuals. E-commerce differs from e-business in that no an exchange of value across businesses or individual or any commercial transaction that takes place in electronic business E-business is the digital enablement of carrying out transactions inside a firm and therefore there is no transfer of value across organisations or to individuals. E-business becomes e-commerce when there is a transfer of value across organisations.[Faramarz, Damanpour , and Jamshid Ali ,Damanpour,. "E-business e-commerce evolution: perspective and strategy." (Managerial finance 27, no. 7, 2001), 16-33.]
Development of E-commerce
There are several stages involved in the growth and development of E-commerce, this stages include, innovation, consolidation and reinvention. The initial stage innovation took place between the years 1995 and 2000 and at this juncture there were ideal vision of market as there was a good flow of quality information between the buyers and the sellers. This however did not see the full fulfilment of the ideal visions. E- Commerce enter its second phase in 2001 which is the consolidation stage, at this level more firms in the market started embracing the use of Web to enhance their trade activities. Web 1.0 was thus created and it was referred to as the ‘readable’ web.[Alemayehu, Molla, and Paul S, Licker. "Perceived e-readiness factors in e-commerce ...
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