Electronic Commerce is the buying and selling of goods and services via the web. E-Commerce sites vary from a simple page with goods and a contact number, to real time credit card processing for downloadable items such as music and software, and even to sophisticated auction websites acting as marketplaces. The most convenient feature of e-commerce is the freedom from time zones and time constraints. It enables the ability for you to shop and secure items any time of day. The online consultancy, eMarketer, reports that the amount of active small business sites in the U.S. participating in e-commerce actions has risen to significantly.
Frequent buzzwords split the industry into two areas of focus:
B2B represents business to business transactions and B2C represents business to customer transactions. B2B e-commerce projections for 2003 range from $1.2 trillion to $10 trillion. B2B encircles e-commerce, enterprise resource planning, customer relationship management, and supply chain management, to name a few. Large corporations like GE and Citicorp are creating their own e-commerce/procurement business websites to bring all the players together in a specific sector. Using aerospace for instance, Boeing, Lockheed, Loral Inc., will have the ability to purchase and sell gear, recruit engineers, auction older planes, find the perfect leasing/financing alternative, and perform many other business functions on a single website. This procedure would be cheaper and finally increase communication.
B2C e-commerce projections for 2001 exceed $17.8 billion. B2C web sites complement conventional brick-and-mortar businesses. Kmart is an illustration of a traditional shop that has an e-commerce web site to complement itself. The shopify collection filter has branded itself as a standalone e-commerce, with no affiliation with a conventional shop. Today, entrepreneurs are able to start B2C websites with very little upstart price. With a product market and robust business plan, an individual can layout the notion of a web site, get it professionally equipped, and finally launch an online business. Online promotion is also very useful, but must be integrated successfully into the strategy of the company.
Finding your way from the EC world
With the dot-com explosion has come a new breed of job titles encompassing both worlds, B2B and B2C. It stands to reason that there are two avenues offered: technical and business positions. On the business side, workers often operate in the following arenas: Business Development, Account/Client Development, Consulting Services, Sales, Marketing, Online Marketing, and Public Relations. Executive management names include Chief Operating Officer, Chief Financial Officer, and Chief Technical Officer.