Identical Terms?

Posted by in ebusiness | 0 comments

There are a lot of words that can be interpreted wrongly. They are similar words, but does not mean quite the same. For example the expressions ‘e-commerce’ and ‘e-business’ are often used as synonymous, however we have to determine what do these words indeed mean?

Firstly, the term e-commerce correspond with online transactions; buying and selling of goods or services over the Internet. Secondly, e-business also refers to online transactions, but extends to all Internet based interactions with suppliers, business partners and customers. Some of the examples of these interactions are selling direct to consumers, manufacturers and suppliers, then monitoring and exchanging information, moreover, auctioning surplus inventory as well as collaborative product design. These online cooperations have the goal to improve or transform business processes and efficiency.
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Talking about e-business and its benefits, we can highlight some of them:

1. Enhanced precision, quality and time required for updating and delivering information on products or services.

2. Possibility for customers to access the catalogues and prices at any time of the day-every day.

3. The way of ordering is easy, fast and immediate.

4. Improved market, industry or competitor intelligence gained through research activities and information gathering.

5. Electronic delivery of some products and services ( publications, software, translation services, banking, etc.) via new distribution channels.

6. Evident expansion of customer base and rise in export opportunities.

7. Routine administrative tasks such as invoices and order records are reduced by e-business so staff can focus on more strategic activities.

 

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