Managing Business with electronic commerce Issues and Trends 1st edition by Aryya Gangopadhyay 9781591400073 1591400074

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Authors:Aryya Gangopadhyay et al. , Series:Management [140] , Tags:Business & Economics › Management Business & Economics / Management , Author sort:Gangopadhyay, Aryya , Languages:Languages:eng , Publisher:Idea Group Publishing , Comments:Comments:Electronic commerce refers to any business activity that takes place using anelectronic medium, frequently the Web. Electronic commerce has beenwidely cited as the fastest growing area in the computer industry. Forexample, Forester research has predicted that electronic commerce will be a$3.2 trillion industry by 2003. There are many reasons for the rapid adoptionof electronic commerce across industry sectors, including increase in customeroutreach, reduction of production cycle time and cost, ability to providecustomized service and many others. Electronic commerce is being conductedfor business transactions between business to business (B2B) as wellas business to consumer (B2C). Business applications in electronic commerceinclude, but are not limited to, digital storefronts, electronic banking,digital financial markets, electronic auctions, supply chain management andelectronic commerce services. Many challenges are being formed along withthe opportunities created by electronic commerce. For example, large, establishedcompanies are facing increasing competition from fast and nimblestartups because of low barriers of entry, customer demand is increasingfor customizable interfaces and better content management, price competitionis forcing companies to operate at lower profit margins, retainingcustomer loyalty is becoming difficult due to increased competition.Myriad of social and legal issues are also emerging due to the differencesbetween electronic commerce and traditional commerce models. Approachesto solutions for these issues are coming from business innovations,technological solutions, and policy makers. Thus, electronic commerceis a new and rapidly growing area that is of interest to bothpractitioners and the academic community.

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