Chapter 1 Essays

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Chapter 1: Introduction to Electronic Commerce

* Electronic Commerce: Into the Third Wave * Electronic Commerce and Electronic Business * Electronic Commerce (e-commerce) * Shopping on Web, business trading with other businesses, and internal processes that companies use to support their buying, selling, hiring, planning, and other activities * Business activities conducted using electronic data transmission over the internet/web * Electronic Business (e-business) * Another term for ecommerce, sometimes used as a broader term for ecommerce * Includes all business processes, as distinguished from a narrow definition of ecommerce that includes sales and purchase transactions only * Dot-com or Pure Dot-com Businesses * Companies that operate only online as opposed to companies that operate in physical locations and may or may not also operate online * Categories of Electronic Commerce * Business-to-Consumer (B2C) * Businesses sell products/services to individual consumers, transactions conducted on the web * Business-to-Business (B2B)/ E-Procurement * Businesses sell products/services to other businesses, transactions conducted on the web * Business Processes * Logical, related, and sequential business activities * Businesses and other organizations maintain and use information to identify and evaluate customers, suppliers, and employees * Businesses share this information in carefully managed ways with their customers, suppliers, employees, and business partners * Business processes is presently greater than B2C and B2B combined * Supply Management/Procurement * The business activity that includes all purchasing activities plus the monitoring of all elements of purchase transactions * All communication, control, and transaction-related activities have become an important part of e-commerce, and can usually all be controlled using Internet technologies within the business * Company/Firm * A business engaged in commerce * Activity * A task performed by a worker in the course of doing his/her job * Transaction * An exchange of value, such as a purchase, sale, or the conversion of raw materials into a finished project * A transaction always has one or more activities associated with it, but an activity might not be related to a transaction * Telecommuting/telework * An employment arrangement in which the employee logs in to the company computer from an off-site location through the internet instead of traveling to an office * Consumer-to-Consumer (C2C) * Participants in an online marketplace can buy and sell goods to each other * In this book, C2C sales included in B2C category * Business-to-Government (B2G) * A category of ecommerce that includes business transactions with government agencies, such a paying taxes and filing required reports * This book treats B2G transactions as part of B2C * The Development and Growth of Electronic Commerce * The internet has changed the way people buy, sell, hire, and organize business activities in more ways and more rapidly than any other technology in the history of business * Electronic Funds Transfers (EFTs) (wire transfers) * Electronic transfer of account exchange information over private communications’ networks * Electronic Data Interchange (EDI) * Exchange between businesses of computer-readable data in a standard format * Trading Partners * Businesses that engage in EDI with each other * Value-Added Network (VANs) * Independent company that