electronic commerce ch 1

8/8/2019 Electronic Commerce Ch 1

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Prentice Hall 2004 Prentice Hall 2004 1 1

Chapter 1Chapter 1Overview of Electronic CommerceOverview of Electronic Commerce


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L earning ObjectivesL earning Objectives

1.1. Define electronic commerce (EC) andDefine electronic commerce (EC) anddescribe its various categories.describe its various categories.

2.2. Describe and discuss the content andDescribe and discuss the content andframework of EC.framework of EC.

3.3. Describe the major types of ECDescribe the major types of ECtransactions.transactions.

4.4. Describe some EC business models.Describe some EC business models.


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L earning ObjectivesL earning Objectives (cont.)(cont.)

5.5. Describe the benefits of EC toDescribe the benefits of EC toorganizations, consumers, and society.organizations, consumers, and society.

6.6. Describe the limitations of EC.Describe the limitations of EC.7.7. Describe the role of the digital revolutionDescribe the role of the digital revolution

in EC.in EC.

8.8. Describe the contribution of EC toDescribe the contribution of EC toorganizations responding to environmentalorganizations responding to environmentalpressures.pressures.


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Electronic Commerce:

Definitions and ConceptsThe Internet has emerged as a major, perhapseventually the major, worldwide distribution channelfor goods, services, managerial and professional jobsThis is profoundly changing economics, markets andindustry structure, products and services and theirflow, consumer segmentation, consumer values,consumer behavior, jobs, and labor marketsThe impact may be even greater on societies andpolitics, and on the way we see the world andourselves in it


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Electronic Commerce:Definitions and Concepts

(cont.)

EE--commercecommerce defined from the

following perspectives:Communications: delivery of goods, services,information, or payments over computernetworks or any other electronic meansCommercial (trading): provides capability of buying and selling products, services, andinformation on the Internet and via other onlineservices


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(cont.)

B usiness process: doing business electronically by

completing business processes over electronicnetworks, thereby substituting information forphysical business processesService: a tool that addresses the desire of governments, firms, consumers, and management

to cut service costs while improving the quality of customer service and increasing the speed of service delivery


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(cont.)

Learning: an enabler of online training andeducation in schools, universities, and otherorganizations, including businessesCollaborative: the framework for inter- andintraorganizational collaborationCommunity: provides a gathering place forcommunity members to learn, transact, andcollaborate


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(cont.)

ee--business:business: a broader definition of EC,a broader definition of EC,

which includes:which includes:buying and selling of goods and servicesbuying and selling of goods and servicesservicing customersservicing customerscollaborating with business partnerscollaborating with business partnersconducting electronic transactions withinconducting electronic transactions withinan organizationan organization


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(cont.)P ure vs. P artial ECP ure vs. P artial ECdepends upon the

degree of digitization(the transformationfrom physical todigital) of:

1. the product (service)

sold;2. the process; and for3. the delivery agent (or

digital intermediary)

B rickB rick--andand- -MortarMortarorganizationsorganizations areare

oldold--economyeconomyorganizationsorganizations(corporations) that (corporations) that perform most of theirperform most of theirbusiness off business off- -line,line,

selling physicalselling physicalproducts by means of products by means of physical agentsphysical agents


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Prentice Hall 2004 Prentice Hall 2004 1010


(cont.) V irtual (pure V irtual (pure- -play)play)organizationsorganizations

conduct their businessconduct their businessactivities solely onlineactivities solely onlineClickClick--andand- -mortarmortarorganizationsorganizationsconduct some ECconduct some ECactivities, but do theiractivities, but do theirprimary business in theprimary business in thephysical worldphysical world

Electronic marketElectronic market(e(e--marketplace)marketplace)

online marketplaceonline marketplacewhere buyers andwhere buyers andsellers meet tosellers meet toexchange goods,exchange goods,services, money, orservices, money, or

informationinformation


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(cont.)I nterorganizationalI nterorganizationalinformationinformationsystems ( IO Ss)systems ( IO Ss)allow routineallow routinetransaction processingtransaction processingand information flowand information flowbetween two or morebetween two or more

organizationsorganizations

I ntraorganizationalI ntraorganizationalinformationinformationsystemssystems enable ECenable ECactivities to go onactivities to go onwithinwithin individualindividualorganizationsorganizations


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Ex hibit 1.1: The DimensionsEx hibit 1.1: The Dimensions

of El ectronic Commerceof El ectronic Commerce


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The E C Framework,

C lassification, and ContentTwo major types of e-commerce:

business-to-consumer (B2C) : : onlineonlinetransactions are made betweentransactions are made betweenbusinesses and individual consumersbusinesses and individual consumersbusinessbusiness- -toto--business (B2B):business (B2B):businesses make online transactions withbusinesses make online transactions with

other businessesother businessesintrabusinessintrabusiness EC: EC conducted inside anEC: EC conducted inside an

organization (e.g.,organization (e.g., businessbusiness- -toto--employeesemployees B2E)B2E)


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The EC Framework,Classification, and Content

(cont.)

Computer environmentsComputer environmentsInt er n e t:Int er n e t: global networked environment global networked environment Intran e t:Intran e t: a corporate or government a corporate or government network that uses Internet tools, such asnetwork that uses Internet tools, such asWeb browsers, and Internet protocolsWeb browsers, and Internet protocols

Extran e t:Extran e t: a network that uses thea network that uses theInternet to link multiple intranetsInternet to link multiple intranets


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EC Framework

EC applications are supported byinfrastructure and by five support areas:

PeoplePublic policyMarketing and advertisingSupport servicesBusiness partnerships


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Ex hibit 1.2: A Framework for Ex hibit 1.2: A Framework for

El ectronic CommerceEl ectronic Commerce


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C lassification of E C byC lassification of E C by

Transactions or InteractionsTransactions or Interactions (cont.)(cont.)businessbusiness- -toto--businessbusiness--toto--consumer (B2B2C):consumer (B2B2C):ee--commerce model in which a businesscommerce model in which a business

provides some product or service to a client provides some product or service to a client business that maintains its own customersbusiness that maintains its own customersconsumerconsumer- -toto--business (C2B):business (C2B):ee--commerce model in which individuals usecommerce model in which individuals usethe Internet to sell products or services tothe Internet to sell products or services toorganizations or individuals seek sellers toorganizations or individuals seek sellers tobid on products or services they needbid on products or services they need


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Transactions or InteractionsTransactions or Interactions (cont.)(cont.)consumerconsumer- -toto--consumer (C2C):consumer (C2C):ee--commerce model in which consumers sellcommerce model in which consumers selldirectly to other consumersdirectly to other consumerspeerpeer--toto--peer (P2P):peer (P2P): technology that enablestechnology that enablesnetworked peer computers to share datanetworked peer computers to share dataand processing with each other directly; canand processing with each other directly; canbe used in C2C, B2B, and B2C ebe used in C2C, B2B, and B2C e--commercecommerce


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Transactions or InteractionsTransactions or Interactions (cont.)(cont.)mobile commerce ((mmobile commerce ((m- -commerce):commerce):ee--commerce transactions and activitiescommerce transactions and activitiesconducted in a wireless environment conducted in a wireless environment locationlocation--based commerce (lbased commerce (l- -commerce):commerce):mm--commerce transactions targeted tocommerce transactions targeted toindividuals in specific locations, at individuals in specific locations, at specific timesspecific times


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Transactions or InteractionsTransactions or Interactions (cont.)(cont.)intrabusiness EC:intrabusiness EC: e e--commerce category that commerce category that includes all internal organizational activitiesincludes all internal organizational activities

that involve the exchange of goods,that involve the exchange of goods,services, or information among various unitsservices, or information among various unitsand individuals in an organizationand individuals in an organizationbusinessbusiness- -toto--employees (B2E):employees (B2E): e e--commercecommercemodel in which an organization deliversmodel in which an organization deliversservices, information, or products to itsservices, information, or products to itsindividual employeesindividual employees


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Transactions or InteractionsTransactions or Interactions (cont.)(cont.)collaborative commerce (ccollaborative commerce (c- -commerce):commerce):ee--commerce model in which individuals orcommerce model in which individuals orgroups communicate or collaborate onlinegroups communicate or collaborate onlineee--learning:learning: tt he online delivery of he online delivery of information for purposes of training orinformation for purposes of training oreducationeducationexchange (electronic):exchange (electronic): aa public electronicpublic electronicmarket with many buyers and sellersmarket with many buyers and sellers


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Transactions or InteractionsTransactions or Interactions (cont.)(cont.)exchangeexchange--toto--exchange (E2E):exchange (E2E): e e--commercecommercemodel in which electronic exchangesmodel in which electronic exchanges

formally connect to one another theformally connect to one another thepurpose of exchanging informationpurpose of exchanging informationee--government:government: e e--commerce model in whichcommerce model in whicha government entity buys or providesa government entity buys or providesgoods, services, or information togoods, services, or information tobusinesses or individual citizensbusinesses or individual citizens


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The Interdiscip linary

Nature of E CMajor EC disciplinesMajor EC disciplines

Computer scienceComputer scienceMarketingMarketingConsumer behaviorConsumer behaviorFinanceFinance

EconomicsEconomicsManagement information systemsManagement information systems


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A Brief History of E C A Brief History of E C

1970s: innovations like1970s: innovations like electronic funds transferelectronic funds transfer(EFT)(EFT) funds routed electronically from onefunds routed electronically from oneorganization to another (limited to largeorganization to another (limited to largecorporations)corporations)electronic data interchangeelectronic data interchange (EDI)(EDI) electronically transfer routine documentselectronically transfer routine documents(application enlarged pool of participating(application enlarged pool of participatingcompanies to include manufacturers, retailers,companies to include manufacturers, retailers,services)services)interorganizational systeminterorganizational system (IOS)(IOS) traveltravelreservation systems and stock tradingreservation systems and stock trading


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A Brief History of E C A Brief History of E C (cont.)(cont.)

1969 U.S. government experiment 1969 U.S. government experiment thetheInternet came into being initially used byInternet came into being initially used by

technical audience of government agencies,technical audience of government agencies,academic researchers, and scientistsacademic researchers, and scientists1990s the Internet commercialized and1990s the Internet commercialized andusers flocked to participate in the form of users flocked to participate in the form of dot dot--comscoms, or, or Internet start Internet start- -upsupsInnovative applications ranging from onlineInnovative applications ranging from onlinedirect sales to edirect sales to e- -learning experienceslearning experiences


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Most mediumMost medium- - and largeand large- -sized organizations have asized organizations have aWeb siteWeb siteMost large U.S. corporations have comprehensiveMost large U.S. corporations have comprehensiveportalsportals1999 the emphasis of EC shifted from B2C to B2B1999 the emphasis of EC shifted from B2C to B2B2001 the emphasis shifted from B2B to B2E,2001 the emphasis shifted from B2B to B2E,cc--commerce, ecommerce, e- -government, egovernment, e- -learning, andlearning, andmm--commercecommerce

EC will undoubtedly continue to shift and changeEC will undoubtedly continue to shift and change


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EC successesEC successes V irtual EC companies

eBay

VeriSign AOLCheckpoint

Click-and-mortarCisco

General ElectricIBMIntelSchwab

EC failuresEC failures1999, a large number of EC-dedicated companies beganto failEC s days are not numbered!

dot-com failure rate isdeclining sharplyEC field is experiencingconsolidationmost pure EC companies,are expanding operationsand generating increasingsales (Amazon.com)


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The Success Story of

Campusfood.ComProvide interactive menus to collegeProvide interactive menus to collegestudents, using the power of the Internet tostudents, using the power of the Internet to

replace and/or facilitate the traditionalreplace and/or facilitate the traditionaltelephone ordering of mealstelephone ordering of mealsBuilt the company s customer baseBuilt the company s customer base

expanding to other universitiesexpanding to other universitiesattracting studentsattracting studentsgenerating a list of restaurants from whichgenerating a list of restaurants from whichstudents could order food for deliverystudents could order food for delivery


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Campusfood.Com (cont.)Now some of these activities are outsourcedNow some of these activities are outsourcedto a marketing firm, enabling the addition of to a marketing firm, enabling the addition of

dozens of schools nationwidedozens of schools nationwideFinanced through private investors, friends,Financed through private investors, friends,and family members, the site was built on anand family members, the site was built on aninvestment of less than $1 millioninvestment of less than $1 million

Campusfood.com s revenue is generatedCampusfood.com s revenue is generatedthroughthrough transaction feestransaction fees the site takes a 5the site takes a 5% commission on each order from the% commission on each order from thesellerssellers


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Campusfood.Com (cont.) At At campusfood.comcampusfood.com you can:you can:

Navigate through a list of local restaurants,Navigate through a list of local restaurants,

their hours of operation, addresses, phonetheir hours of operation, addresses, phonenumbers, etc.numbers, etc.Browse an interactive menuBrowse an interactive menuBypass busy telephone signals to place anBypass busy telephone signals to place an

order onlineorder online Access special foods, promotions, and Access special foods, promotions, andrestaurant giveawaysrestaurant giveaways

Arrange electronic payment of your order Arrange electronic payment of your order


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The Future of E CThe Future of E C

20042004 total online shopping and B 2 B total online shopping and B 2 B transactions in the US between $3 to $7 trilliontransactions in the US between $3 to $7 trillionby 2008 :by 2008 :

number of I nternet users worldwide should reach 75 0 number of I nternet users worldwide should reach 75 0 millionmillion5 0 percent of I nternet users will shop5 0 percent of I nternet users will shopEC growth will come from:EC growth will come from:

B2CB2CB2BB2B

ee--government government ee--learninglearningB2EB2Ecc--commercecommerce


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E-commerce

Business ModelsBusiness modelsBusiness models a method of doinga method of doingbusiness by which a company canbusiness by which a company cangenerate revenue to sustain itself generate revenue to sustain itself

ExamplesExamples ::Name your priceName your priceFind the best priceFind the best priceDynamic brokeringDynamic brokering

Affiliate marketing Affiliate marketing


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E-commerce

Business Plans and CasesBusi n ess pl an: a written document that identifies the business goals and outlines

the plan of how to achieve themBusi n ess c as e : a written document that isused by managers to garner funding forspecific applications or projects; its majoremphasis is the justification for a specificinvestment


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S tructure of Business

ModelsBusiness model:Business model: A method of A method of doing business by which adoing business by which acompany can generate revenue tocompany can generate revenue tosustain itself sustain itself


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Structure of Business Mode ls

(cont.)Revenue model:Revenue model: description of howdescription of howthe company or an EC project will earnthe company or an EC project will earn

revenuerevenueSalesSalesTransaction feesTransaction feesSubscription feesSubscription fees

Advertising Advertising Affiliate fees Affiliate feesOther revenue sourcesOther revenue sources


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S tructure of

Business Models (cont.) Value proposition: Value proposition: The benefits aThe benefits acompany can derive from using ECcompany can derive from using EC

search and transaction cost efficiencycomplementaritieslock-in

aggregation and interfirm collaboration


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Ex hibit 1.4: CommonEx hibit 1.4: Common

Revenue Mode lsRevenue Mode ls


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Ty pical Business Models

in EC1. Online direct marketing2. Electronic tendering systems

tendering (reverse auction): model in whicha buyer requests would-be sellers to submit bids, and the lowest bidder wins

3. Name your own price: a model in which abuyer sets the price he or she is willing topay and invites sellers to supply the good orservice at that price


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Ty pical Business

Models in EC (cont.)4.4. Affiliate marketing: an arrangement Affiliate marketing: an arrangement

whereby a marketing partner (a business,whereby a marketing partner (a business,

an organization, or even an individual)an organization, or even an individual)refers consumers to the selling company srefers consumers to the selling company sWeb siteWeb site

5.5. Viral marketing: Viral marketing: wordword--of of--mouth marketingmouth marketingin which customers promote a product orin which customers promote a product orservice to friends or other peopleservice to friends or other people


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Ty pical Business

Models in EC (cont.)6.6. Group purchasing: quantityGroup purchasing: quantity

purchasing that enables groups of purchasing that enables groups of purchasers to obtain a discount pricepurchasers to obtain a discount priceon the products purchasedon the products purchased

7.7. SMEs:SMEs: ss mall to medium enterprisesmall to medium enterprises

8.8. Online auctionsOnline auctions


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Ty pical Business

Models in EC (cont.)8.8. Product and service customizationProduct and service customization

customization:customization: creation of a product creation of a product or service according to the buyer sor service according to the buyer sspecificationsspecifications

8. Electronic marketplaces and

exchanges9. Value-chain integrators10. Value-chain service providers


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Ty pical Business

Models in EC (cont.)12. Information brokers13. Bartering14. Deep discounting15. Membership16. Supply chain improvers

Business models can be independent orthey can be combined amongst themselvesor with traditional business models


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Ex amp le of Ex amp le of

Supp ly Chain Improver Supp ly Chain Improver O rbis Group changes a linear physicalsupply chain to an electronic hub

Traditional process in the B 2 B advertisingfield


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Ex amp le of Ex amp le of

Supp ly Chain Improver Supp ly Chain Improver (cont.)(cont.)

P roduct B ankP roduct B ank

simplifies thissimplifies thislengthy processlengthy processchanging thechanging thelinear flow oflinear flow ofproducts andproducts andinformation to ainformation to adigitized hubdigitized hub


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Benefits of E CBenefits of E C

Global reachGlobal reachCost reductionCost reductionSupply chainSupply chainimprovementsimprovementsEx tended hours:Ex tended hours:24/ 7 / 36524/ 7 / 365

CustomizationCustomizationNew business modelsNew business models Vendors specialization Vendors specialization

Rapid timeRapid time- -toto--marketmarketLower communicationLower communicationcostscostsEfficient procurementEfficient procurementI mproved customerI mproved customerrelationsrelations

UpUp--toto--date companydate companymaterialmaterialNo city business permitsNo city business permitsand feesand feesO ther benefitsO ther benefits

Benefits to organizationsBenefits to organizations


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Benefits of E CBenefits of E C (cont.)(cont.)

UbiquityUbiquityMore products andMore products andservicesservicesCheaper productsCheaper productsand servicesand services

I nstant deliveryI nstant deliveryI nformationI nformationavailabilityavailability

Participation in

Participation inauctionsauctions

ElectronicElectroniccommunitiescommunities Get it your way Get it your way

No sales ta x No sales ta x

Benefits to consumers


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Benefits of E CBenefits of E C (cont.)(cont.)

Benefits to societyBenefits to society

TelecommutingTelecommutingHigher standard of Higher standard of livinglivingHope for the poorHope for the poor

Availability of Availability of public servicespublic services


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L imitations of E CL imitations of E C


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Barriers of E CBarriers of E C

SecuritySecurityTrust and riskTrust and risk

Lack of qualifiedLack of qualifiedpersonnelpersonnelLack of businessLack of businessmodelsmodelsCultureCulture

User authenticationUser authenticationand lack of publicand lack of public

key infrastructurekey infrastructureOrganizationOrganizationFraudFraudSlow navigation onSlow navigation onthe Internet the Internet Legal issuesLegal issues


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The Digita l Revo lutionThe Digita l Revo lution

Digital economy:Digital economy: An economy that is An economy that isbased on digital technologies,based on digital technologies,including digital communicationincluding digital communicationnetworks, computers, software, andnetworks, computers, software, andother related information technologies;other related information technologies;

also called thealso called the Internet economy,Internet economy, thethenew economy,new economy, or theor the Web economyWeb economy


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The Digita l Revo lutionThe Digita l Revo lution (cont.)(cont.)

A global platform over which people and A global platform over which people andorganizations interact, communicate,organizations interact, communicate,

collaborate, and search for informationcollaborate, and search for informationIncludes the following characteristics:Includes the following characteristics:

A vast array of digitizable products A vast array of digitizable productsConsumers and firms conducting financialConsumers and firms conducting financialtransactions digitallytransactions digitallyMicroprocessors and networking capabilitiesMicroprocessors and networking capabilitiesembedded in physical goodsembedded in physical goods


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New Business E nvironmentNew Business E nvironment

Customers are becoming morepowerful

Created due to advances in scienceoccurring at an accelerated rateResults in more and more technology

Rapid growth in technology results inRapid growth in technology results ina large variety of more complexa large variety of more complexsystemssystems


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New BusinessNew Business

E nvironmentE nvironment (cont.)(cont.)Characteristics in the business environment Characteristics in the business environment

A more turbulent environment with more business A more turbulent environment with more business

problems and opportunitiesproblems and opportunitiesStronger competitionStronger competitionNeed for organizations to make decisions moreNeed for organizations to make decisions morefrequentlyfrequently

A larger scope for decisions because more factors A larger scope for decisions because more factorsMore information and/or knowledge needed forMore information and/or knowledge needed formaking decisionsmaking decisions


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E nvironmentE nvironment- -ResponseResponse- -

Support Mode lSupport Mode lCritical response activities

traditional actions such as lowering cost and closing unprofitable facilitiesintroduce innovative actions such ascustomizing or creating new products orproviding superb customer service


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Ex hibit 1.6: Major BusinessEx hibit 1.6: Major Business

Pressures and the Role of

ECPressures and the Ro

le of

EC


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Major Business PressuresMajor Business Pressures

Market andMarket andeconomiceconomicpressurespressures

Strong competitionStrong competitionGlobal economyGlobal economyRegional tradeRegional trade

agreements (e.g.agreements (e.g.NAFTA)NAFTA)Ex tremely low laborEx tremely low laborcost in somecost in somecountriescountriesFrequent andFrequent andsignificant changessignificant changesin marketsin marketsI ncreased power ofI ncreased power ofconsumersconsumers


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Major Major

Business PressuresBusiness Pressures (cont.)(cont.)

Societal andSocietal andenvironmentalenvironmental

pressurespressures

Changing nature ofChanging nature ofworkforceworkforceGovernmentGovernmentderegulation of bankingderegulation of bankingand other servicesand other servicesShrinking governmentShrinking governmentsubsidiessubsidiesI ncreased importance ofI ncreased importance ofethical and legal issuesethical and legal issues

I ncreased socialI ncreased socialresponsibility ofresponsibility oforganizationsorganizationsRapid political changesRapid political changes


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Major Major

Business PressuresBusiness Pressures (cont.)(cont.)

TechnologicalTechnologicalpressurespressures

Rapid technologicalRapid technologicalobsolescenceobsolescenceI ncreaseI ncreaseinnovations andinnovations andnew technologiesnew technologiesI nformationI nformationoverloadoverloadRapid decline inRapid decline intechnology cost vs.technology cost vs.performance ratioperformance ratio


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Organizationa l ResponsesOrganizationa l Responses

Strategic systemsStrategic systemsContinuous improvement efforts andContinuous improvement efforts and

business process reengineeringbusiness process reengineering includingincludingbusiness process reengineeringbusiness process reengineering (BPR)(BPR)Customer relationship management (CRM)Customer relationship management (CRM) divided into the following areasdivided into the following areas

Operational CRMOperational CRM Analytical CRM Analytical CRMCollaborative CRMCollaborative CRM


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Organizationa l ResponsesOrganizationa l Responses (cont.)(cont.)

Business alliancesBusiness alliancesElectronic marketsElectronic marketsReductions in cycle time and timeReductions in cycle time and time- -toto--market market

Cycle time reduction:Cycle time reduction: Shortening the timeShortening the timeit takes for a business to complete ait takes for a business to complete aproductive activity from its beginning toproductive activity from its beginning toendend


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Empowerment of employeesEmpowerment of employeesSupply chain improvementsSupply chain improvementsMass customization: makeMass customization: make- -toto--order inorder inlarge quantities in an efficient mannerlarge quantities in an efficient manner

Mass customization:Mass customization: Production of largeProduction of large

quantities of customized itemsquantities of customized items


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Intrabusiness: from sales forceIntrabusiness: from sales forceautomation to inventoryautomation to inventoryKnowledge management Knowledge management

Knowledge management (KM):Knowledge management (KM): TheTheprocess of creating or capturingprocess of creating or capturing

knowledge, storing and protecting it,knowledge, storing and protecting it,updating and maintaining it, and using it updating and maintaining it, and using it


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Putting It A ll Together Putting It A ll Together

Task facing each organization is how to put together the components that will enable

the organization to transform itself to thedigital economy and gain competitiveadvantage by using ECMany employ corporate portals

A major gateway through which employees,business partners, and the public can enter acorporate Web site


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Ex hibit 1.8:Ex hibit 1.8:

The Networked OrganizationThe Networked Organization


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Manageria l IssuesManageria l Issues

1.1. Is it real?Is it real?2.2. How should we evaluate theHow should we evaluate the

magnitude of the business pressures?magnitude of the business pressures?3.3. Why is B2B eWhy is B2B e--commerce so attractive?commerce so attractive?4.4. There are so many EC failuresThere are so many EC failures howhow

can one avoid them?can one avoid them?


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Manageria l IssuesManageria l Issues (cont.)(cont.)

5.5. What should be my company sWhat should be my company sstrategy toward EC?strategy toward EC?

6.6. How do we transform ourHow do we transform ourorganization into a digital one?organization into a digital one?

7.7. What are the top challenges of EC?What are the top challenges of EC?


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SummarySummary

1. Definition of EC and description of itsvarious categories.

2. The content and framework of EC.3. The major types of EC transactions.4. The major business models.


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SummarySummary (cont.)(cont.)

5. Benefits to organizations, consumers,and society.

6. Limitations of EC.7. The role of the digital revolution.8. The role of EC in combating

pressures in the businessenvironment.

electronic commerce ch 1

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