Use of E-Commerce in business

Use of E-commerce in Business

Customer Inserts His /Her Name

Customer Inserts Grade Course

Customer Inserts Tutor 's Name

15 .09 .2008

Contents Page

Introduction 3

Revolution of the Business World 4

Key elements important for E-commerce 5

Difference between Commerce and E-commerce 5

Steps taken to launch an E-Business 7

Step No . 1 : Business idea 7

Step No .2 : Work on the USP of your Product 8

Step No . 3 : select a Domain Name 8

Secured financing 9

Calendaring and delegation the execution the

business plan 9

Websites and e-mail systems are constructed 9

Execute the market strategy to start up the E-business 9

E-commerce applications 10

Shopping cart 10

Payments 12

Electronic Cash 14

CyberCoin 15

E-cash 16

Online Banking 16

- Transactional 16

- Non-transactional 17

Electronic funds transfer 17

Event notification 18

Imports and exports 18

7 . Rules of E-commerce 18

- Rule No . 1 : Empowerment of customers 19

-Rule No . 2 : Personalization 19

-Rule No . 3 : Directness 20

8 . Conclusion 20

9 . References 22

Introduction

E-commerce is a word that depicts the revolution of the online world in business . Now days , it is the mere focus of the emerging fast growing markets and hence giving more space to healthy competitions along the way . The entire idea behind E-commerce is to do business online , which includes - buying and selling products through electronic cash

E-commerce that is Electronic commerce is an exchange of business ideas and information using websites , electronic mails , electronic funds transfer and EDI , that is electronic data interchange . Over these mediums , the information and business ideas do not only include products involving Online Shopping , but the bond and stock Transactions are a huge part of E-commerce as well . The downloading and buying of music documents and computer software and hardware are also included in this cast category . All the business 's day to day transactions that involve electronic money and not physical money , comes under E-commerce

The core concept of using E-commerce is to enhance the speed of the day to day business transactions taking place throughout the world and hence creating a competitive edge over those who do have their business transactions available online . Likewise , the customers and users of this fascinating opportunity are given access to the computer systems of the companies that facilitate E-commerce . This is not as easy as it sounds to be . The companies have to keep a low check on all its customers transacting at all times

E-commerce can be compared to that of a telecommunication network . The only visible difference between the two is that the telecommunication network requires a human intervention , where as in E-commerce , internet is the only medium through which the managers and customers get in contact . Although many people raise the idea of not having their products online , their business transactions taking place online because it is always good to have a face-to-face conversation with the customers , in to know their gestures , their body language , facial expressions etc . But what do you...