Characteristics of Electronic Commerce: Technologies, Networking Platforms, and Business Advantages
Overview
This paper examines the defining characteristics of electronic commerce and its role in modern business operations. It explores how e-commerce leverages ICT and digital networks to facilitate transactions, discusses the significance of social media platforms and networking sites in business marketing, and analyzes the advantages of e-commerce including increased operational efficiency and customer engagement.
What this essay covers
- Definition and foundational concepts of e-commerce and ICT applications in business
- Role of the Internet as global technical infrastructure enabling borderless commerce
- E-Commerce and Social Media Networking Platforms: marketing practices and customer relationships
- Advantages of e-commerce including logistics, networking platforms, and business process automation
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Characteristics of Electronic Commerce
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Characteristics of Electronic Commerce
Electronic commerce, also known as “E-commerce,” refers to the trading in services or products using digital networks such as the Internet. E-commerce also includes the use of ICT “Information and Communication” to support a syndicate’s activities (Jalonen, 2016). E-commerce comprises the exchange of services and products between people, groups, and businesses, and it is mostly identified as among the essential activities of a company. E-commerce primarily focuses on the application of ICT to enhance the external relationships and operations of companies with people, other syndicates, and groups.
Han & Kim (2016) explain that ICT is broadly used in business organizations and to enhance the collaboration on information and communication systems of the business partners involved. The widespread and systematic use of ICT has been enhanced by technologies accepted across the globe. E-commerce supports business processes by enabling organizations to run their operations across boundaries. Moreover, E-commerce automates business processes in organizations by increasing the speed and economic efficiency of business processes. According to Han & Kim (2016), in the current world, the Internet plays a significant role and has become a global technical infrastructure. For instance, it has created a global virtual place where people and organizations interested in engaging in business activities meet without the time and geographical restrictions. Universal networks facilitate the exchange of information without any hindrances. Therefore, the paper addresses the characteristics of E-commerce by mainly discussing e-commerce technologies.