WHAT IS E-BUSINESS?
E-business (electronic business), derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners. One of the first to use the term was IBM, when, in October, 1997, it launched a thematic campaign built around the term.
Today, major corporations are rethinking their businesses in terms of the Internet and its new culture and capabilities. Companies are using the Web to buy parts and supplies from other companies, to collaborate on sales promotions, and to do joint research. Exploiting the convenience, availability, and world-wide reach of the Internet, many companies, such as Amazon.com, the book sellers, have already discovered how to use the Internet successfully.
E-business is more than just having a web presence to facilitate buying and selling. Frank Jones, VP of IBM Corporation, provides this definition: “E-business is exploiting the combined power of the internet and information technology to fundamentally transform key business strategies and processes”.
The most common implementation of E-business is as an additional, or in some cases primary, storefront. By selling products and services online, an e-business is able to reach a much wider consumer base than any traditional brick-and-mortar store could ever hope for.
This function of E-business is referred to as ecommerce, and the terms are occasionally used interchangeably.
An E-Business may also use the Internet to acquire wholesale products or supplies for in-house production. This facet of E-Business is sometimes referred to as eprocurement, and may offer businesses the opportunity to cut their costs dramatically. Even many E-Businesses which operate without an electronic storefront now use eprocurement as a way to better track and manage their purchasing. revenue from 5% in 2000 to 10% in 2007 .
Asia-Pacific e-commerce revenues are projected to increase from $76.8 billion atIn addition to buying and selling products, e-business may also handle other traditional business aspects. The use of electronic chat as a form of technical and customer support is an excellent example of this.
An e-business which uses chat to supplement its traditional phone support finds a system which saves incredible amounts of time while providing opportunities unavailable through traditional support. By using virtual computer systems, for example, technical support operators can remotely access a customer's computer and assist them in correcting a problem. And with the download of a small program, all pertinent information about the hardware and software specifications for a user's computer may be relayed to the support operator directly, without having to walk a customer through personally collecting the data. In the past few years, virtually all businesses have become, to some degree or another, an e-business.
The pervasiveness of Internet technology, readily available solutions, and the repeatedly demonstrated benefits of electronic technology have made e-business the obvious path. This trend continues with new technologies, such as Internet-enabled cell phones and PDAs, and the trend of e-business saturation will most likely continue for some time.
International Data Corp (IDC) estimates the value of global e-commerce in 2000 at
US$350.38 billion. This is projected to climb to as high as US$3.14 trillion by 2007.
IDC also predicts an increase in Asia’s percentage share in worldwide e-commerce year-end of 2001 to $338.5 billion by the end of 2004. Asia-Pacific e-commerce revenues are projected to increase from $76.8 billion at year-end of 2001 to $338.5 billion by the end of 200
E-business (electronic business), derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners. One of the first to use the term was IBM, when, in October, 1997, it launched a thematic campaign built around the term.
Today, major corporations are rethinking their businesses in terms of the Internet and its new culture and capabilities. Companies are using the Web to buy parts and supplies from other companies, to collaborate on sales promotions, and to do joint research. Exploiting the convenience, availability, and world-wide reach of the Internet, many companies, such as Amazon.com, the book sellers, have already discovered how to use the Internet successfully.
E-business is more than just having a web presence to facilitate buying and selling. Frank Jones, VP of IBM Corporation, provides this definition: “E-business is exploiting the combined power of the internet and information technology to fundamentally transform key business strategies and processes”.
The most common implementation of E-business is as an additional, or in some cases primary, storefront. By selling products and services online, an e-business is able to reach a much wider consumer base than any traditional brick-and-mortar store could ever hope for.
This function of E-business is referred to as ecommerce, and the terms are occasionally used interchangeably.
An E-Business may also use the Internet to acquire wholesale products or supplies for in-house production. This facet of E-Business is sometimes referred to as eprocurement, and may offer businesses the opportunity to cut their costs dramatically. Even many E-Businesses which operate without an electronic storefront now use eprocurement as a way to better track and manage their purchasing. revenue from 5% in 2000 to 10% in 2007 .
Asia-Pacific e-commerce revenues are projected to increase from $76.8 billion atIn addition to buying and selling products, e-business may also handle other traditional business aspects. The use of electronic chat as a form of technical and customer support is an excellent example of this.
An e-business which uses chat to supplement its traditional phone support finds a system which saves incredible amounts of time while providing opportunities unavailable through traditional support. By using virtual computer systems, for example, technical support operators can remotely access a customer's computer and assist them in correcting a problem. And with the download of a small program, all pertinent information about the hardware and software specifications for a user's computer may be relayed to the support operator directly, without having to walk a customer through personally collecting the data. In the past few years, virtually all businesses have become, to some degree or another, an e-business.
The pervasiveness of Internet technology, readily available solutions, and the repeatedly demonstrated benefits of electronic technology have made e-business the obvious path. This trend continues with new technologies, such as Internet-enabled cell phones and PDAs, and the trend of e-business saturation will most likely continue for some time.
International Data Corp (IDC) estimates the value of global e-commerce in 2000 at
US$350.38 billion. This is projected to climb to as high as US$3.14 trillion by 2007.
IDC also predicts an increase in Asia’s percentage share in worldwide e-commerce year-end of 2001 to $338.5 billion by the end of 2004. Asia-Pacific e-commerce revenues are projected to increase from $76.8 billion at year-end of 2001 to $338.5 billion by the end of 200