Electronic Commerce (E-Commerce) and the Global Economy Essay -- Explo

Electronic Commerce (E-Commerce) and the Global EconomyIntroductionThe world we live in forthwith, revolves around technology, tender innovations and constant change. The global economy incorporates these changes into its daily applications forming a technological driven world where businesses thrive on information and competitive markets. Computers and conference networks have plant a seed in this information progress where enterprises flourish forming revolutionized market economies. One of the most profound changes emerging in the world of business today is the introduction and use of Electronic Commerce or EC. The impact of EC on customer run as well on businesses is dramatic sufficient to affect any and every organization. Electronic commerce is the buying and selling of products and services and information via a computer network.. It provides opportunities for companies to expand their business worldwide at a small cost. Business to ConsumerEC includes business i nteraction with consumers where companies sell directly to consumers over the Internet. In terms of retail, Business- to Consumer applications have increased revenues, and eliminated costly intermediaries give care distributors, warehousing, etc. In addition, with the development of EC, the use of catalog or television shopping channels are becoming less popular. The former, limits an individual to what is seen on the cover song or paper rather than the latter EC that allows a wide variety of products. Shopping online also offers 24-hour service, the luxury of shopping for an item at your stimulate convenience and detailed information of products and their prices, even when they go on sale With the use of EC, distribution channels are eliminated maki... ...It benefits consumers immensely by providing convenience and variety. Computers and communication networks have paved the way for a technological driven economy in the last 20 years. Organizations are able to create e fficient services and products, resulting in competitive markets, leading to specialization of products and concluding in higher profits and enhanced service. Moreover, the growth of E-commerce obliterates the production focused economy of the industrial age and extends the information age to new heights through business services offered using the internet. http//hotwired.lycos.com/special/ene/Works CitedEfraim Turban, R.Kelly Rainer, Richard E. Potter. Introduction to Information Technology. Toronto John Wiley and Sons Inc. (2001)Joh brown and Spencer Reiss. Encyclopedia of the New Economy. (http//hotwired.wired.com/special/ene/)