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Chapter 1: E-commerce - Coggle Diagram
Chapter 1: E-commerce
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E-COMMERCE VS E-BUSINESS
MEANING:
Trading of merchandise, over the internet is known as E-COMMERCE
Running business using the internet is known as E-BUSINESS
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WHICH NETWORK IS USED:
E-COMMERCE - Internet
E-BUSINESS - Internet, intranet, extranet
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Definition: E-commerce consist of buying and selling of products or services over electronic systems such as the Internet and other computer network.
Electronic commerce was identified as the fasilitation of commercial transactions ellectronically, using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT)
What is EDI?
- EDI is the structured transmission of data between organizations by electronic means.
- It is used to transfer electronic documents or business data from one computer system to another computer system
- Effective at reducing costs and improving effeciency
What is EFT?
- EFT is the electronic exchange or transfer of money from one account to another.
Type of e-commerce
- B2B - The process where buying and selling of goods and services between businesses is known as Business to Business. Example: Oracle, Alibaba, Qualcomm
- B2C - The process whereby the goods are sold by the business to customer. Example: Dell, Intel
- C2C - The commercial transaction between customer to customer. Example: Ebay, Ali Express, Amazon Marketplace
- C2B - The commercial transaction between customer to business. Example: food blogger
- G2C - The process where buying and selling of goods and services between Government to Customer. Example: MyEG
Advantages of e-commerce:
- Ability to reach new markets
- Reduces costs (for some businesses)
- Increased purchasing opportunities
- More efficient (electronic payments, telecommuting)
Disadvantages of e-commerce:
- Incompatibility for certain industries
- Limitations of the medium
- Costs
- Skills required
- Cultural and llegal issues