12 Questions
What is the difference between EC and e-business?
EC refers to using the Internet and other networks to purchase, sell, transport or trade data, goods or services, while e-business refers to a broader definition of EC, not just buying of goods and services but conducting all kinds of business online such as servicing customers, collaborating with business partners, delivering e-learning and conducting electronic transactions within organizations.
Explain the difference between Brick-and-mortar, Virtual organizations, and Click-and-mortar organizations.
Brick-and-mortar organizations are purely physical organizations, Virtual (pure-play) organizations are engaged only in EC, and Click-and-mortar organizations conduct some EC activities.
What are the three major activities in EC organizations based on their nature?
Ordering and payments, Order fulfillment, Deliver to customers.
Provide examples of Business-to-Business (B2B) and Business-to-Consumer (B2C) transactions.
B2B - Transactions between businesses, B2C - Transactions between businesses and consumers.
Explain the concept of Business-to-Business-to-Consumer (B2B2C) with an example.
B2B2C involves a platform like Amazon, which sells products from various sellers to consumers.
What is Consumer-to-Business (C2B) EC?
C2B involves consumers providing goods or services to businesses.
What are the benefits of social computing and commerce?
People work together over the Internet, consult with specialists, and locate goods and services recommended by friends.
Explain the concept of the digital economy.
It is an economy based on online transactions, mostly e-commerce, utilizing digital communication networks, computers, software, and related information technologies.
How does social media differ from Web 2.0?
Social media is a form of Web 2.0 innovation that uses its tools and technologies for user-generated content delivery and social interactions.
What is the key purpose of social networking?
To engage in Web 2.0 activities, such as blogging, and to have a presence in social networks for various interactions.
How does the sharing economy function?
It involves collaborative consumption and sharing of resources among individuals through online platforms, promoting sustainable practices.
List three benefits of e-commerce to organizations and vendors.
Supply chain improvement, competitive advantage, and global reach.
Study Notes
EC Overview
- EC refers to using the Internet and other networks to purchase, sell, transport, or trade data, goods, or services.
- EC can be viewed as a subset of e-business.
E-Business
- E-business refers to a broader definition of EC, not just buying of goods and services but conducting all kinds of business online.
Major EC Concepts
- EC can be either pure or partial based on the nature of three major activities: ordering and payments, order fulfillment, and deliver to customers.
- EC organizations can be classified into three types: brick-and-mortar (or old economy), virtual (pure-play), and click-and-mortar (click-and-brick).
Classification of EC
- EC can be classified based on the nature of the transactions and the relationships among participants into:
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Business-to-Business-to-Consumer (B2B2C)
- Consumer-to-Business (C2B)
- Intrabusiness EC
- Business-to-Employees (B2E)
- Consumer-to-Consumer (C2C)
- Collaborative Consumer
Drivers of EC
- Benefits to customers
- Benefits to organizations and vendors
- Benefits to society
- Technological developments
- Innovative business models
- Competitions, business environment
- Emergence of social business and economy
- Help by governments
- Expansion to global
Capabilities of EC
- Availability: huge selection to choose
- Ubiquity: can shop any time at any place
- Personalize: make order for customer preferences
- Find bargains: use comparison engine; pay less
- Real-time delivery: download digital products quickly
- Enable telecommuting: facilitate work at home, less traffic, pollution
- Comfortable shopping: shop at your leisure without pushy sale clerks
- Close the digital divide: allow people in rural places
- Home shipping: less travel; air pollution
- Global reach
- Supply chain improvement: reduce delays, inventories and cost
- Provide competitive advantage: lower prices, better services, improve brand image
Social Computing
- Social computing refers to a system that supports the gathering and dissemination of information that is distributed across social collaboratives.
- It is performed with a set of tools that includes blogs, wikis, social network services, other social software tools and social marketplaces.
Social Media
- Social media involves user-generated online text, image, audio, and video content that are delivered via Web 2.0 platforms and tools.
- Social media is used for social interaction and communications.
Digital Economy
- Digital economy (known as the internet economy) is an economy based on online transactions, mostly e-commerce, including digital wireline or wireless communication networks, computers, software, and other related information technologies.
Sharing Economy
- Sharing economy (known as collaborative consumption and collaborative economy) involves sharing or renting out goods and services among individuals or organizations.
Learn about the fundamental concepts of Electronic Commerce (EC) and its relationship with e-business. Explore how EC is used for buying, selling, and exchanging goods and services over the Internet and other networks.
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