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

E-Commerce: Its Development and Future Perspectives
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Introduction
Even with a considerable internet revolution today, electronic commerce, otherwise referred to as e-commerce is still a relatively new and emerging area of conducting and managing a business. E-commerce is a process of buying and selling of assorted goods and services over electronic structures such as the internet and other computerized systems. It involves an online process that is comprised of advertising, selling, delivery, and servicing of products. The development of the internet, its availability, and usage has drastically increased the amount of businesses conducted electronically in the recent years. Many companies are enjoying the online infrastructures to significantly cut down costs of conducting business, reach a wide scope in marketing, and provide awareness for their different products. The internet revolution and development creates a better future perspective for e-commerce, owing to better understanding of electronic commerce, its application, and importance to business management.
Body
The development of e-commerce began with the infamous slow internet infrastructure and underdeveloped online platforms. However, the continuous development of the internet and online technologies has led to major improvements in conducting business over the internet. Several companies today have brought the multi-billion-dollar industry closer to the people in the business. Several businesses reformed e-commerce by introducing the point-and-click web browsing that pioneered other online retail websites today. Continued developments in e-commerce enabled one-click ordering system that merged marketing and sales. E-commerce development also faced several pitfalls. Some online vendor companies were forced to close down their business services since their sales were overwhelmed by the demand. For example, Netscape reformed e-commerce by introducing a user-friendly platform that allowed easy execution of business activities such as marketing and sales. Amazon and E-bay followed suit and introduced the point-and-click web browsing that eased the process of e-commerce. On the other hand, other companies such as Boo.com closed business since the company was unable to sustain the online demand for its products.
The development of e-commerce offers numerous opportunities to change the traditional modes of conducting business. This entails the elimination of intermediaries such as brokers and other dealers in most of the industries. Research indicates that e-commerce development will result in widespread elimination if business intermediaries thus helping in reducing cost of conducting business and improving profit margins. In addition, conducting businesses online reduces the burden of laying physical infrastructures and helps in increasing geographical coverage and reaching a large number of potential customers. Involving business intermediaries in setting up such physical structures and advertising increases business’s costs and reduce the profits. Manheim Auctions, for example, is a company involved in auctioning car for automakers and rental companies. An intermediary is the rental company, Manheim Auctions that connects the car owners and the customers. However, e-commerce helps in eliminating the intermediary thus enabling the car owners to deal with the customers directly. This example shows the real changes of e-commerce for business and creates a better future perspective for all business owners.
Conclusion
The development of e-commerce results to transformation ...