The revolution is just beginning
Use of Internet and web to transact business securely and privately.
* Commerce is the exchange of items of value between persons or companies
* Any exchange of money for a product, service or information is considered a transaction of commerce
* Commerce is the branch of business. It is concerned with the exchange of goods & services. It includes all those activities, which directly or indirectly facilitate that exchange.
Digital enablement of transaction and processes system within a firm, involving information system under firm’s control.
...view middle of the document...
An information system is a collection of methods, practices, algorithms and methodologies that transforms data into information and knowledge desired by and useful for, individual and group users in organizations and other entities. This system can involve a combination of work practices, information, people, and technologies organized to accomplish goals in an organization.
Enterprise Resource Planning
* Enterprise Resource Planning integrates internal and external management functions across organization.
* The purpose of ERP is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.
Uses of Enterprise Resources Planning
Enterprise Resource Planning integrates different functional areas of a business of a company. These uses in different business functional areas are:
* Account Department
General Ledger Fixed Assets, Payables, ect.
* Managerial Department
Budgeting, Costing, Cost Management, etc.
* Human Resource Management
Recruiting, Training, Payroll, benefits, etc.
Engineering, Manufacturing process, ect.
* Sales & Distribution
Order processing, Dispatching & Invoicing, Order analysis, Forecasting, Sales analysis, Budgets & Controls, etc.
Why we use E-Commerce
We use E-Commerce, because it has following advantages:
* Much cheaper and quicker to set-up
* For Global Reach
* Open for business 24x7 - unlimited store hours
* Increases brand and product awareness
* Potential to lower costs - fewer sales staff, no need for a physical location etc
What is a Marketplace
A marketplace is a physical place you visit in order to transact. For example, television and radio typically motivate the consumer to go some place to make a purchase.
What is a marketspace?
A marketspace is a marketplace that is extended beyond traditional boundaries because it is removed from the restrictions of geography and time. The ubiquity of e-commerce technologies liberates the market from these limitations.
Eight Unique Features/Dimensions of E-Commerce Technology
Is the ability all the time everywhere.
* Global Reach
The total number of users or customers an e-commerce business can obtain.
We can sell in international market more conveniently and cost-effectively.
* Universal Standards
Standards that are shared by all nations around the world. Unlike, traditional commerce, these are common around the world and thus reduce search cost (the effort required to find suitable products) and market entry cost (the cost merchants must pay just to bring their goods to market).
The complexity and content of a messge.
Which types of mediums...