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E-business Definition

E-business Definition. Derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners. Why e-Business?. Advances in technology

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E-business Definition

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  1. E-business Definition • Derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners

  2. Why e-Business? • Advances in technology Technology is increasingly more accessible—and cheaper.  Sophisticated security applications are providing higher levels of protection.  Access to essential business activities such as online banking is readily available. Bbroadband telecommunications allow businesses to be more competitive by having always-on access to the Internet while being able to speedily exchange files between their trading partners.

  3. Changes in customers and suppliers needs An increasing number of customers now have online access themselves . . . and expectations to match. Customers want products and services that are easier and faster to access than ever before, and they don’t mind where in the world they go to get them. Similarly, smart suppliers prefer smart customers with streamlined ordering and payment processes the easier and more cost-effective the interaction, the faster they can, and will, deliver.  E-business isn’t simply a better way to do business.  It’s a better way to manage business.

  4. E-business and its advantages Whether on or off line, customers in today's marketplace want quality products and information in a quick and easy manner. I've typed it before and I'll type it again, the internet's main benefit is that of speed and convenience. Therefore e-business, which uses the internet as the core for business dealings, can help make a company more customer-friendly in addition to many other things, such as creating a more efficient exchange of information and/or products and services.

  5. Removes Location and Availability Restrictions Users need not be in the same physical location as an e-business and the exchange of information and transactions may take place at any given time, twenty-four hours a day, seven days a week and from any location in the world with Internet access. A physical location is restricted by size and limited to only those customers that can get there, while an online store has a global marketplace with customers and information seekers already waiting in line.

  6. Reduces Time and Money Spent In e-business, there is often a reduction in costs required to complete traditional business procedures. Many of those same traditional business approaches can be eliminated and replaced with electronic means. Also think about the cost of paying rent at a physical location opposed to the cost of maintaining an online site.

  7. Heightens Customer Service With e-business customers receive highly customizable service, and communication is often more effective. There is far more flexibility, availability and faster response times with online support. For example, think about the speed of e-mail inquiries and live chat as opposed to getting on the phone, especially when that business is closed for the day. There is also a faster delivery cycle with online sales, helping strengthen the customer/business relationship. The internet is a powerful channel for reaching new markets and communicating information to customers and partners. Having a better understanding of your customers will help to improve customer satisfaction.

  8. Gives Competitive Advantage The internet opens up a brand new marketplace to businesses moving online. Competition via the internet is growing as the internet itself grows and waiting too long to move online may cause you to lose your place in line entirely. Easy access to real time information is a primary benefit of the internet, enabling a company to give more efficient and valid information and helping to gain the competitive advantage over those that are not online.

  9. Business models • Brokerage Model:Brokers are market-makers: they bring buyers and sellers together and facilitate transactions. • Advertising Model:The web advertising model is an extension of the traditional media broadcast model. The broadcaster, in this case, a web site, provides content (usually, but not necessarily, for free) and services (like email, IM, blogs) mixed with advertising messages in the form of banner ads.

  10. Infomediary Model: Data about consumers and their consumption habits are valuable, especially when that information is carefully analyzed and used to target marketing campaigns. • Merchant Model: Wholesalers and retailers of goods and services. Sales may be made based on list prices or through auction.

  11. Manufacturer (Direct) Model :The manufacturer or "direct model", it is predicated on the power of the web to allow a manufacturer (i.e., a company that creates a product or service) to reach buyers directly and thereby compress the distribution channel.

  12. Questions

  13. References • http://digitalenterprise.org/models/models.html • http://ezinearticles.com/?E-Business-and-Its-Advantages&id=280089 • http://searchcio.techtarget.com/sDefinition/0,,sid182_gci212026,00.html

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