Thursday, November 21, 2019
Online Business Technologies Term Paper Example | Topics and Well Written Essays - 4000 words
Online Business Technologies - Term Paper Example Successful organizations have been at the forefront of implementing e-commerce to integrate business processes and enhance work operations within the organization. The changes heralded by ICT are likely to accelerate in the future and herald fresh technological developments within the digital economy that are likely to generate fresh fundamental approaches to e-business of economy, government, and society accompanied by social and political implications (Stephen 2005, p.2). The term e-commerce is employed to describe online transactions incorporating the buying and selling of goods and services over the internet. The advantages of e-business encompass: yielding enhanced precision, quality and time demanded to update and delivering information on products or services; awarding client s the possibility of accessing the catalogs and prices at all time. E-business allows adoption of a fast and immediate way of conducting transactions and allows the electronic delivery of products and enh anced market, competitor intelligence (Phan 2003, p.581). Indeed, e-business has led to an expansion of customer base and rise within export opportunities. E-business pursues utilizing the Internet and linked technologies to integrate and redesign the organizationÃ¢â¬â¢s internal activities, processes, and external relations, and generate fresh ways of working that are dramatically different from, and frequently superior to what was possible previously. E-business may encompass aspects such as electronic invoicing, electronic supply chain, and electronic marketing and promoting (Lawson 2001, p.377). Some of the conditions critical for e-business entail aspects such as configuration of all processes with the internet; significant revenue contribution from the internet; 24/7electronic infrastructure; and, profit and loss focus. E-business refers to the term employed to describe the mode of utilizing the internet to operate a business. E-commerce encapsulates the ordering, purchasing , slang, and paying for products and services by utilizing the internet. E-business only mirrors a fraction of the global business and can be highlighted as a leading sector that avail entrepreneurs with a suitable platform for entering the market (AMit and Zott 2001, p.493). E-business represents the strategic employment of internet tools and technologies with the aim of enriching all aspects of a business such as marketing, sales, or back-end activities. Background The internet has over time become an increasingly critical part of peopleÃ¢â¬â¢s lives. Indeed, e-business is increasingly permeating the mainstream business culture and becoming a medium connecting consumers and enterprises. Despite the increased growth of e-business, the majority of the industries are yet to realize the full potential of the internet, and there are numerous opportunities that stand to be exploited (Stephen 2005, p.3). This should be undertaken in full knowledge of the fact that technology takes time to thrive and become broadly available. As such, society requires time to adjust to allow all stakeholders to abandon their previous ways of undertaking things, and start utilizing the new technology in such a manner that it actually generates value. Rapid development in infrastructure and services has been widely witnessed in both private and private sectors organizations. The growth that the ICT sector has witnessed has yielded to IT representing one of the biggest capital expenditure by companies/businesses. A significant part of government initiatives has frequently been targeted at increasing the investments within ICT.