E-commerce: Major Facts
Description:
Electronic commerce consists generally of the distributing, buying, selling, marketing, and servicing of a products or services over electronic systems such as in the Internet and other computer networks. The information technology industry may use it as an electronic business application aimed at commercial transactions.
Content:
Electronic commerce consists generally of the distributing, buying, selling, marketing, and servicing of a products or services over electronic systems such as in the Internet and other computer networks. The information technology industry may use it as an electronic business application aimed at commercial transactions. It can involve with electronic funds transfer, supply chain management, e-marketing, online marketing, online transaction processing, electronic data interchange, automated inventory management systems, and automated data collection systems. It is a typically uses electronic communications technology such as bye the use of Internet, extranets, e-mail, e-books, databases, catalogues and mobile phones.
In the age of global economy, e-commerce and e-business have increasingly become a necessary component of business strategy and a strong catalyst for economic development. The Combination of information and communications technology in business has revolutionized relationships within organizations and those between and among organizations and individuals. Exclusively, the use of ICT in business has improved productivity, encouraged greater customer participation, and enabled mass customization, besides reducing costs.
On the other hand, developing countries are set increased access to the global marketplace, where they compete with and complement the more developed economies. Most of all, developing countries are already participating in e-commerce, either as sellers or buyers. Conversely, to facilitate e-commerce growth in these countries, the relatively underdeveloped information infrastructure must be improved. Among the areas for policy involvement are:
Higher cost of internet access, including connection service fees, communication fees, and hosting charges for websites with sufficient bandwidth.
Limited availability to credit cards and a developing a nationwide credit card system.
Undersized transportation infrastructure resulting in slow and uncertain delivery of goods and services.
Having network security problems and insufficient security safeguards.
Lack of skilled human resources and lack of key technologies.
There are some content of restriction on national security and other public policy grounds, which are greatly affect business in the field of information services, such as the media and entertainment sectors.
Cross-border issues in a country, such as the recognition of transactions under laws of other ASEAN member-countries, certification services, improvement of delivery methods and customs facilitations.
The relatively low cost of labor, which is implies that a shift to a comparatively capital intensive solution is not apparent.
It is recognized that in this Information Age, Internet commerce is being a powerful tool in the economic growth of developing countries. While there are some indications of e-commerce patronage among large firms in developing countries, there seems to be little and negligible use of the Internet for commerce among small and medium sized firms. E-commerce promises to do a better business for SMEs and sustainable economic development for developing countries. Though, this is premised on strong political will and good governance, as well as on a responsible and supportive private sector within an effective policy framework. This is a primary seeks to provide policy guidelines toward this end.
Author: Olivia Hunt
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