E-commerce is the buying and selling of goods and services over the internet, evolving from electronic transactions in the 1970s to a global industry involving various business models like B2B, B2C, C2C, and C2B. It offers advantages such as 24/7 access and reduced prices but also has drawbacks like internet dependence and potential security risks. Its growth necessitates organizations to adapt their strategic planning to leverage this rapidly evolving medium.