E-business
Electronic business, frequently referred as “e-business” is an internet business. E-business is also interchangeably referred as an ‘e-commerce”; however there are subtle differences between the two. “The first refers to any business that uses Internet technology to improve productivity and profitability. The later refers to buying and selling of goods on the internet; E-business is merely an extension of e-commerce to encompass all aspects of business that function online” (1). Now important thing to keep it on our mind is that E-businesses provide its consumers with distinct advantages. They have access to e-business information or transactions regardless of their physical location. Similarly, this provides e-business with an opportunity to reach more customers world wide. “E-business is a term used to describe businesses run on the Internet, or utilizing Internet technologies to improve the productivity or profitability of a business; in a more general sense, the term may be used to describe any form of electronic business” (3). This simply means that any business that uses commuter in one way or another via marketing or exploiting product is called E-business. The biggest underline here is that E-business mostly refers to internet business. E-businesses are also more likely to provide its customers with a more effective customer service. Many e-businesses have been offering instant help to customers through instant messages or online chat rooms. Consumers are now able to get their questions answered in a matter of minutes. This is certainly helping e-businesses strengthen the customer/business relationships.
While e-businesses have many benefits over brick and mortar stores, they are also faced with many challenges. In particular, Internet security poses significant threat to e-businesses. The internet provides great access to data, and more valuable data, but not only to legitimate users, but also to hackers, disgruntled employees, criminals, and corporate spies. Thus, e-businesses are faced with challenge of protecting sensitive data from some eyes and making it available to all others (2). Even though E-business increases its demand as the internet becomes more randomly available to developing countries so internet security increases as well. Speed is another important aspect in shopper’s decision making. Many times people will cancel its order if it takes too long. Some researches say that waiting longer than 8 seconds on-line to purchase the product will most likely end by canceling the order, but than again it all depends on the product itself as John Lovett senior performance analyst at Gomez Inc. stated "If it's something I can only get there and I've decided I need it, I'm going to wait as long as it takes" (4). This line explains why sometime we have long lines of people waiting not online but inline during some huge sales event.
Going back to internet security which brings the biggest increase in sale as well as biggest decrease in sale. The simple definition of Internet security is somewhat ability for any individual to browse the internet and having some form of privacy, including credit card information, personal address and phone number. Each form of E-business no matter how big or small has to have some form of internet protection. The most common form of protection is creating your personal account with protected with your personal password. Also each business is investing huge amounts of money just for this purpose. Selling and buying products is of course the most import aspect of E-business but security of these transactions is important as well.
1. http://smallbusiness.chron.com/definition-ecommerce-e-business-2255.html
2. http://www.cgisecurity.com/database/oracle/pdf/9iR2hisec.PDF
3. http://www.wisegeek.com/what-is-ebusiness.htm
4. http://www.ecommercetimes.com/story/21462.html
