E-business Definition. Derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners. Why e-Business?. Advances in technology
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"e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners
Technology is increasingly more accessible—and cheaper. Sophisticated security applications are providing higher levels of protection. Access to essential business activities such as online banking is readily available.
Bbroadband telecommunications allow businesses to be more competitive by having always-on access to the Internet while being able to speedily exchange files between their trading partners.
An increasing number of customers now have online access themselves . . . and expectations to match. Customers want products and services that are easier and faster to access than ever before, and they don’t mind where in the world they go to get them.
Similarly, smart suppliers prefer smart customers with streamlined ordering and payment processes the easier and more cost-effective the interaction, the faster they can, and will, deliver.
E-business isn’t simply a better way to do business. It’s a better way to manage business.
Whether on or off line, customers in today's marketplace want quality products and information in a quick and easy manner. I've typed it before and I'll type it again, the internet's main benefit is that of speed and convenience. Therefore e-business, which uses the internet as the core for business dealings, can help make a company more customer-friendly in addition to many other things, such as creating a more efficient exchange of information and/or products and services.
Users need not be in the same physical location as an e-business and the exchange of information and transactions may take place at any given time, twenty-four hours a day, seven days a week and from any location in the world with Internet access. A physical location is restricted by size and limited to only those customers that can get there, while an online store has a global marketplace with customers and information seekers already waiting in line.
In e-business, there is often a reduction in costs required to complete traditional business procedures. Many of those same traditional business approaches can be eliminated and replaced with electronic means. Also think about the cost of paying rent at a physical location opposed to the cost of maintaining an online site.
With e-business customers receive highly customizable service, and communication is often more effective. There is far more flexibility, availability and faster response times with online support.
For example, think about the speed of e-mail inquiries and live chat as opposed to getting on the phone, especially when that business is closed for the day. There is also a faster delivery cycle with online sales, helping strengthen the customer/business relationship. The internet is a powerful channel for reaching new markets and communicating information to customers and partners. Having a better understanding of your customers will help to improve customer satisfaction.
The internet opens up a brand new marketplace to businesses moving online. Competition via the internet is growing as the internet itself grows and waiting too long to move online may cause you to lose your place in line entirely. Easy access to real time information is a primary benefit of the internet, enabling a company to give more efficient and valid information and helping to gain the competitive advantage over those that are not online.