Critical Evaluation of Relevant Issues in E - Commerce

Topics: Electronic commerce, Online shopping, Business-to-business Pages: 7 (2884 words) Published: July 14, 2012
Critical Evaluation of Relevant Issues in E – Commerce
E-commerce is short form of Electronic Commerce which actually means the virtual business or buying and selling of products or services over electronic systems such as the internet and or mobile networks. The invention of faster internet connectivity and powerful online tools has resulted in this new method of trading or commerce arena – Ecommerce. Ecommerce offered many advantages to companies and customers but it also caused many problems. It is a fact that even today many people are skeptical about using online transaction for the fear of either goofing up or being duped! Nowadays E-Commerce is the buzz word on everyone’s lips be it the buyers or the sellers. Even education is turning towards reaching out more students electronically and students are willing to pay for such education! Although it is omnipresent but we never realize its importance primarily because it is known by different names. People do site promotion, SEO, affiliate marketing, and many other things but the goal is same i.e. to get clients and sell the products or services of the company. 'E' is just a medium to transact online. E-commerce business is done virtually online through either a website or email or some other form of electronic means such as phone. But even though most part of the transactions are done online, e-commerce in the end does involve some sort of physical transportation if and when a product is involved; which has to be delivered manually. When you purchase an item or items from a large online retailer, you place your order online and the items are shipped directly to you through some means of freight transportation such as courier or post or the delivery system of the company itself if they have it. Business to business or what is called in modern jargon as B2B is a large part of e-commerce since a big part of transactions conducted online is for virtual items such as software programs or virtual security tie-ups or outsourcing of data entry or analysis of collected data; etc. Business to consumer or B2C business is referred to the business that is conducted between businesses and consumers. This can be compared to or is actually retail business where in clients place their individual order of products; which may be physical or virtual from a virtual catalogue and then it is delivered to them. There are different modes of payment like credit card, debit card, cash on delivery, etc. The history of e-commerce has been dramatically changed over the last 30 years. In the beginning, it was done using technology like EDI which is also known as electronic data exchange and EFT which stands for electronic funds transfer. ETF meant the money was transferred electronically from the clients account to the vendors account electronically. As the market continued to grow in the 1980’s with the introduction of credit cards and ATM machines, so did the e-commerce market. This made it easier to make payments without involving complex procedure of transferring funds. If we look for an example it seems one of the best examples of e-commerce as far as physical good trading was the Boston Computer Exchange which was a marketplace for computers that came about in 1982. However, the first online information marketplace that was introduced online was the American Information Exchange which came into play in 1991. With the introduction of the internet in 1994, e-commerce took a whole new turn because it was now available worldwide through the internet to everyone who had access to internet via a computer. Some electronic activities are regulated in the United State by the Federal Trade Commission also known as the FTC. This includes such things like commercial emails and online advertising. Everything has its advantages as well as disadvantages and getting emails advertizing products may not be welcome by those people who do not want to conduct online transactions. This is done to ensure the...
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