BUSINESS

Management Information System

Management Information System

Introduction

Generally E-commerce also known as 'Electronic Commerce' is perceived as shopping on the internet however there is much more to it then what meets the eye. E-commerce aids in conducting business trading activities online. E-commerce is said to be one of the fastest growing business trends around the globe. This definition is consistent with the definition of the World Trade Organization, where e-commerce is defined as a full range of production and distribution, marketing and sale of products by electronic means. It has also been defined by the Organization of Economic Cooperation and Development International as business transactions which are made ??by individuals and organizations that depend on processing and the transfer of digital data, voice and video through open networks such as the Internet or closed can relate to the network open, "also known as the total commercial services that deal with groups (companies / institutions / individuals) and based on electronic data processing (text / audio / photo) (Hartman, 2000).

E-commerce constitutes four types of business models. The two types of business models are:

1. Business to Business model (B2B): It uses the internet for the exchange of information and business transactions amidst two entities.

2. Business to consumer (B2C): It is a trading model, where the firms interact directly with the consumers via online selling and purchasing.

3. Consumer to Consumer (C2C): E-Commerce provides a portal for consumers to interact with other consumers via websites that aid consumers in selling their products or services to other consumers. An example of it is E-bay.

4. Peer to Peer (P2P): This aspect of E-Commerce aids the internet users in locating and sharing music files. An example of P2P website can be Napster.

Businesses in the United Kingdom adapted to this promising trend and currently United Kingdom is termed as the most developed and the most progressive economies in the world. United Kingdom has the largest per capita in terms of the e-commerce markets and also in terms of the e-advertising market. In United States of America available statistics for transactions within the scope of e-commerce could total as much to more than $ 1.5 trillion in 2006, which will reflect on the nature of international economic relations and also on the patterns of shopping goods and service which of course is called an amendment and development of laws relating to the movement of trade as a whole, such as laws of taxes and customs and all What to do with electronic commerce (Laudon, 2008).

E-Commerce is said to transform organizations via technology that aids in adapting to new technology instantly since the new world is going to transform completely too digital age. It redefines organizations by making the organization efficient. The characteristics of E-commerce are:

E-commerce aids in providing a platform that boosts the promotion and marketing of products and services via direct marketing unlike the traditional systems.

Since E-commerce provides a direct platform to reach consumers; it has also aided in developing a new distribution channel for the existing product ...