Concept of Electronic Commerce

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The one-on-one exchange of goods between two parties dates back to before the beginning of recorded history.

The worldwide development of the Internet has allowed the birth of an extensive spectrum of services (such as file transfer, social media, electronic mail, electronic banking, debit card processing, Digital marketing, etc.)

Where the most popular is e-commerce, a business environment which enables electronic transfer of transaction information.

Electronic commerce is an upcoming technological wave that has flourished because of the openness, speed, anonymity, digitization, and global accessibility attributes of the Internet.

Which has facilitated real-time business activities, including, sourcing, advertising, querying, negotiating, auctioning, ordering, and paying for merchandise.

In theory, there exists more than one definition for e-commerce but, generally speaking, it includes any normal business function performed via electronic networks.

However, for the sake of this writing, we will follow the definition given or seen from different perspectives.

  • From a communications point of view, electronic commerce refers to the process of delivering information, products, services, or payments through different means such as telephone lines, computer networks, etc.
  • From a business process point of view, electronic commerce refers to the usage of technology for automation business transactions and workflow.
  • From a service point of view, electronic commerce is considered a tool for companies, consumers, and management to reduce the cost of services while enhancing the quality of goods and increasing the speed of service delivery.
  • From an online point of view, electronic commerce offers the capacity to buy and sell products, information, and other online services via the Internet.

E-commerce embraces all the features of commerce (such as catalogs, online purchases, customer service, products specification, etc.), and creates new features in the context of this type of commerce.

Concepts that have emerged in electronic commerce include e-payment, e-banking, e-lottery, and e-government, involving actions such as signing contracts, transferring funds, and distributing intangible digital goods.

Electronic commerce allows people to conduct business and communicate via the Internet, simulating and improving the traditional forms.

For example, electronic mail (or e-mail) improves the time of delivery for communication. Using the traditional route, a person would have to wait days to receive letters; in contrast, via

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Hi I'm Waleed Tariq, the founder of Mind My Business NYC and author of this blog. I am an entrepreneur and internet marketer. My wish is that, this website helps you to grow your business and achieve your goals.

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