Embracing Electronic Commerce in Economy
Electronic commerce is popularly referred to as e-commerce. It is an activity that incorporates purchasing and selling of commodities and services. This act takes place via digital means of operation. In electronic platform, it is easier to conduct business online and this has assisted it to be dominant at the market. In this contemporary society, major types of transactions take place on the internet.
Evidently, the increase in use of technology has facilitated operations across the globe. For instance, it makes business to be conducted in an effective manner. As a result, electric commerce has enhanced progress in business sector. This is clear when the platform makes it easier for potential clients to access products and services. In contrast to the conservative way of trading in society, electronic commerce has enhanced progress in the business sector.
Individuals in business embrace different tactics to be successful in electronic commerce and attain their goals (Laudon & Trevor, 2002).
They use strategies such as business to business B2B which enables companies to transact with others. An example of business to business under electronic commerce happens when firms which produce soda sell its goods to people who are distributing. The distributers further sell the sodas to retailers making this form of transaction to be business to business.
The business to customer strategy B2C enables firms to directly sell their products to clients. This is by incorporating different applications that are related to the internet. This procedure allows them to ship their commodities to different regions. Additionally, the B2C method allows buyers to sell what they have to companies by advertising their goods on the internet. The internet also incorporates a kind of business that takes place between consumers. Through electronic commerce, parties involved incur challenges such as breakdown in network. However, they embrace effective trading patterns that enhance progress in economy.
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Laudon, K., & Traver, C. (2002). E-commerce: Business, technology, society. Boston: Addison Wesley.