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What Are The Differences Between E-Business & E-Commerce In 2021?

What Are The Differences Between E-Business & E-Commerce In 2021?

WHAT IS E-BUSINESS?

Electronic Business or e-Business refers broadly to the use of technologies, particularly the Information and Communication Technologies (ICTs), to conduct business or facilitate improved business activities and processes, including procurement, operation, manufacturing, marketing and sales, logistics, human resources management, finance, and research and development. Originally, the term e-Business refers primarily to the digitally enabled transactions and processes within an organization, involving information systems under the control of the organization. E-business does not include commercial transactions involving an exchange of value across organizational boundaries. These online interactions are aimed at improving or transforming business processes and efficiency. Over time, e-Business has been known to cover online transactions, extending to all Internet- based interactions with business partners, suppliers and customers such as selling direct to consumers, manufacturers and suppliers; monitoring and exchanging information; auctioning surplus inventory; and collaborative product design.

E-Business, therefore, relates to any commercial activity that is conducted in an electronic format including commercial transactions conducted via the Internet, telephone and fax, electronic banking and payment systems, electronic purchasing and restocking, etc. Like the telephone, fax, and calculator, e-Business is a tool that can enable increased productivity, improved customer services, and reduction in costs.

E-Business is not limited to certain type of business or technology, but includes networking, allowing sales and marketing activities, purchasing and logistics, production, education, design and engineering to take place. The most effective use of e-Business is when a business combines several of these activities allowing information to flow from sales, to purchasing and production. It facilitates creating more effective external interactions with customers, clients, collaborators and suppliers, as well as helps improve internal business efficiency and even the emergence of new products and services.

E-Business could be generally described as any ICT enabled system that suppliers,
distributors, or customers use, as the basis for conducting their business operations, such as:

•Communicate with clients or suppliers via email;

•Send email to other organizations to order supplies;

•Sell or promote products or services via a web site and/or email;

•Publish a web site to provide public information about the business;

•Use the Internet for online banking and paying bills

 

WHAT IS E-COMMERCE?

The advances in Information and Communication Technologies (ICTs) and the emergence of the Internet have revolutionized business activities enabling new ways of conducting business referred to as electronic commerce (Zwass 2003; Turban, King, Lee, & Viehland, 2004). Electronic commerce (e-Commerce) describes the process of buying, selling, transferring, or exchanging products, services, and/or information through computer networks, principally the Internet (Turban et al., 2004). Electronic commerce can also be described as the sharing of business information, maintaining of business relationships, and conducting of business transactions by means of telecommunications networks (Zwass, 2003).Due to the invention of internet, web technologies and other electronic devices, a new form of commerce known as e-Commerce has emerged.

Electronic Commerce (e-Commerce) is a set of technologies, applications, and business processes that link businesses, consumers, and communities for the purposes of buying, selling, and delivering products and services; as well as for integrating and optimizing processes within and between participating entities.

ECommerce builds on traditional commerce by adding the flexibility and speed offered by
electronic medium, thereby facilitating improvement in operations leading to substantial cost savings, as well as increased efficiency and competitiveness through the redesign of traditional business methods.

E-Commerce involves the application of ICTs to conduct commercial transactions between and among organizations and individuals. It could be said to comprise of all commercial transactions mediated by digital technology (landline telephone, fax, mobile phones, electronic mail and Internet), between private individuals or commercial entities, which take place in, or over, electronic networks. The object of the transactions could be tangible or intangible. The only important factor is that the communication and transactions take place over an electronic medium

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