Ecommerce technology

Electronic commerce is the practice of buying and selling of products and services over an electronic system connected via internet or any other network . On the contrary traditional commerce relies on the traditional ways of doing commerce that occur physically . Traditional commerce is expensive , time consuming and may not have good market reach . E-commerce is relatively cheaper , less time consuming and gives businesses the opportunity to have a global market reach

The two developments that contributed to the emergence of the internet as an electronic commerce infrastructure are collaboration and the

exchange of information . Through collaboration people and organizations are able to interact , communicate and search for information easily This exchange of information along with the processing , storing and transmission of information are the key factors that made internet as the best place to do electronic commerce

Transaction costs are charges that take place whenever an economic exchange occur . On the internet the transaction costs are low because it is easier to tap larger markets in less time and gathering the information and getting the best price is much easier

The internet enables transparent exchange of information more over anyone can directly contact anybody . It becomes more like a network than the traditional hierarchical economic structure , in which firms can only buy and sell within an organization , and small firms had limited reach

Managers can increase the performance of their company by being innovative . The best practice is to first identify changes that can add value to the performance . The...