What is e-business?
Online Business or e–business is any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be seen as one of the essential activities of any business.
Electronic business (e–business) refers to the use of the Web, Internet, intranets, extranets or some combination thereof to conduct business. E–business is similar to e–commerce, but it goes beyond the simple buying and selling of products and services online.
Importance of e-business
E–business allows companies to reach more consumers in a much broader economic market. Companies can sell goods and services to national and international markets through the use of a website. Additionally, sales can occur 24/7 since many companies do not shut down their website.
Types of e- business
There are six basic types of e–commerce — Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C), Consumer-to-Business (C2B), Business-to-Administration (B2A) and Consumer-to-Administration (C2A) — and all of them represent a different purchasing dynamic.
Difference between e-commerce and e-business
Buying and Selling of goods and services through the internet is known as e–commerce. Unlike e–business, which is an electronic presence of business, by which all the business activities are conducted through the internet. e–commerce is a major component of e–business.
Benefits of e-business
E–business allows for conversations to happen quickly. Faster decision-making saves time, and time is money in business. E–business allows people to communicate in several ways that facilitate understanding. If someone is not comfortable on the phone or through a video chat, there is always messaging and emailing.
Applications of e-business
E–business applications are web-based applications that can be implemented to perform tasks for businesses. These applications are not just for online businesses, but also for traditional ones. Behind the scenes, e–business applications usually rely on relationships between company servers and end user computers.
Limitations of e-business
Some of the limitations of e–business are as follows : Lack of Personal Touch: E–business lacks the personal touch. One cannot touch or feel the product. So it is difficult for the consumers to check the quality of a product.
Some of the features of Online Business are as follows :
- It is easy to set up
- There are no geographical boundaries
- Much cheaper than traditional business
- There are flexible business hours
- Marketing strategies cost less
- Online business receive subsidies from the government
- There are a few security and integrity issues
Online entrepreneurs can prepare themselves for success by understanding these e-business fundamentals and applying them effectively.
- Product Development and Sourcing
- Warehousing and Drop Shipping
- Marketing
- Customer Service
- Payment Gateway
- Information Technology
Characteristic of e-business
In E-e-commerce e–commerce site types are 7 unique features, such as the Ubiquity, Global Reach, Universal Standards, Richness, Interactivity, Information Density, and Personalization.
Advantages of E-Business
Using Internet technology to provide improved customer service, make more efficient business processes, increase sales, and reduce wastage is called E–business. E–business uses the internet tools such as websites, online banking, and web based customer relationship.
Best degrees in E-Business
- Bachelor of Business Administration – Accounting
- Bachelor of Business Administration in Management – Operations Management
- Bachelor of Business Administration in Marketing
- Bachelor of General Studies – Business Communication
- Bachelor of General Studies – General Business
- Bachelor of Science in Agricultural Business
What are the best online colleges for business degrees?
- Saint Leo University
- Regis University
- Champlain College
- University of Phoenix-Arizona
- University of Minnesota-Twin Cities
- Temple University
- Kaplan University-Omaha Campus
- Davenport University
- Bay Path University
- University of the Incarnate Word
