Exploring Electronic Commerce
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E-commerce refers to conducting online business transactions without resorting to physical meetings and one-to-one discussions. Conducting business the e-commerce way has numerous benefits. Chief among them being that, it cuts down the printing cost as well as the cost of staff and It also reduces the channel of intermediaries. However, this type of doing business also has certain drawbacks: in India access to internet is too limited and people don’t make purchase decisions from catalogues alone. Moreover, even credit cards are not too common place.
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Exploring Electronic Commerce
- 1. Exploring Electronic Commerce • E-commerce is changing every facet of life i.e. workplace and home • It is changing the way we shop, learn, interact and transact business
- 2. Managing Electronic Commerce- 1 • E-commerce is `any type of business transaction in which the parties interact electronically rather than by physical exchanges of documents or direct meetings amongst officials.’
- 3. Managing Electronic Commerce - 2 Characteristics • Doing business on-line • No human intervention needed • Can be utilized as an alternative sales channel • Tremendously flexible
- 4. Managing Electronic Commerce- 3 Advantages • Great way to disseminate information & work • Cuts down the channel of intermediaries • Cuts down on printing cost and staff • Global reach • Encourages competition and reduces prices
- 5. E- Commerce in India • No. of computers per person is too small • Access to Internet is too limited • Credit cards not commonplace • No scope for bargaining • Buying from catalogue does not trigger desire
- 6. E-Commerce E-commerce is bringing about a paradigm shift in the world of trading • Changing every facet of our life • Growth of internet is the most important event of this century • Due to its flexibility anyone can do cyber business & earn millions • Doing business is cost effective • Encourages competitions
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