ICT in Business: E-Commerce and E-Business

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Questions and Answers

What is the primary focus of e-commerce?

The buying and selling of products and services online (correct)

Conducting market research through online surveys

Networking and collaboration within organizations

Empowering business processes through technology

Which of the following describes pure play e-business?

Organizations engaged in both online and offline sales

E-business models that incorporate social media marketing

Companies that provide a variety of products and services

Businesses focusing exclusively on one specific kind of product (correct)

What has been identified as a significant consequence of increased on-demand services like Uber?

Positive impacts on public transport revenue

Potential negative effects on existing job markets (correct)

Higher levels of customer dissatisfaction

Greater reliance on traditional transportation methods

Why is it important to study e-commerce?

To understand the opportunities and risks associated with it Signup and view all the answers

Which statement best encapsulates e-business?

It encompasses all business processes using the internet for various interactions Signup and view all the answers

Which key group is NOT typically considered a stakeholder in an e-business context?

Employees of unrelated businesses Signup and view all the answers

What does the term 'disruptive business change' in technology refer to?

Radical shifts that create new market dynamics Signup and view all the answers

What impact did the Covid-19 pandemic have on on-demand services like Uber?

A major decline in usage frequency and service availability Signup and view all the answers

What characterizes a brick-and-click business model?

It has both online and physical store operations. Signup and view all the answers

Which of the following is NOT a type of e-commerce business model?

C2E Signup and view all the answers

In which e-commerce model does a consumer provide value to a business?

C2B Signup and view all the answers

What defines the Business-to-Consumer (B2C) model?

Selling products and services from businesses to end-users. Signup and view all the answers

Which statement accurately describes Consumer-to-Consumer (C2C) e-commerce?

It features consumers selling to other consumers online. Signup and view all the answers

Which type of e-commerce model primarily uses mobile platforms for transactions?

M-commerce Signup and view all the answers

What is a characteristic of Business-to-Business (B2B) e-commerce?

Collaborative efforts for supply chain services. Signup and view all the answers

Which of the following describes 'direct-to-consumer' (DTC) as a subcategory of B2C?

Businesses delivering to end consumers without intermediaries. Signup and view all the answers

What does C2B stand for in the context of e-Commerce?

Consumer to Business Signup and view all the answers

Which technology allows for the linking of documents on the internet?

Hypertext Transfer Protocol (HTTP) Signup and view all the answers

What is the primary purpose of Electronic Data Interchange (EDI)?

To enable electronic document exchange Signup and view all the answers

Which of the following is NOT a benefit associated with EDI?

Increased manual processing Signup and view all the answers

What key trend in e-Commerce is fueled by the COVID-19 pandemic?

Surge in retail e-commerce Signup and view all the answers

Which feature of e-commerce technology is emphasized by its ability to reach consumers globally?

Global reach Signup and view all the answers

What does Electronic Funds Transfer (EFT) allow?

Digital movement of money between bank accounts Signup and view all the answers

What societal trend is associated with rising concerns in e-commerce?

Increasing market dominance of big technology firms Signup and view all the answers

What major shift occurred in the period from 2001 to 2006 in the evolution of e-commerce?

Adoption of a business-driven approach Signup and view all the answers

Which of the following terms describes the capacity of digital content to offer a vast amount of detailed information?

Information density Signup and view all the answers

What was a consequence of the dot-com crash of 2000?

Shift towards traditional business methods Signup and view all the answers

Which of the following best describes the period from 1995 to 2000 in e-commerce development?

Invention focusing on the sale of simple retail goods Signup and view all the answers

What has been a primary technological advancement influencing B2C e-commerce?

Expanded bandwidth for data transmission Signup and view all the answers

What is a characteristic feature of the “Reinvention” period in e-commerce that started around 2007?

Rapid growth of mobile platforms and local commerce Signup and view all the answers

What do the terms 'friction-free commerce' and 'first-mover advantages' refer to in the context of e-commerce history?

Initial optimistic visions for e-commerce Signup and view all the answers

Which technological standard from the 1980s helped prepare the groundwork for electronic exchanges?

Electronic Data Interchange (EDI) Signup and view all the answers

What percentage of people from the surveyed countries reported using their smartphone for social media activities?

96% Signup and view all the answers

Which of the following best defines social media?

An online means of communication and collaboration among interconnected networks. Signup and view all the answers

What aspect of social media is highlighted by its built philosophy?

Participation and engagement. Signup and view all the answers

Which of the following is NOT typically associated with social media?

Traditional advertising. Signup and view all the answers

Social media's enhancement by mobility primarily refers to which of the following?

Accessing social media on various mobile devices. Signup and view all the answers

The term 'mind boggling' in reference to social media stats suggests what about the impact of social media?

The growth and usage rates can be surprising and significant. Signup and view all the answers

In the context of social media, what does 'collaboration' imply?

Individuals or groups working together for a common purpose. Signup and view all the answers

The interconnectedness of people and communities in social media is primarily driven by what factor?

Shared interests and communication technology. Signup and view all the answers

Study Notes

Course Details

Title: ICT in Business (BHMS4472)
Lecturer: Dr. Zulfiqar ALI
Office: WK – S1317
Office Phone: +852 3746 0749
Mobile/WhatsApp: +852 9293 6748
Email: [email protected]

E-Commerce

Definition: The buying and selling, marketing and servicing of products and services via computer networks.
Alternative definitions:
- A method of buying and selling goods and services online.
- A market activity of trading goods or services over the Internet.

E-Business

Definition: Utilizing the internet for networking and empowering business processes, electronic commerce, organizational communication, and collaboration within a company, and with external stakeholders like customers, suppliers, and government agencies.
Stakeholders: Groups and individuals that affect or are affected by a company, including buyers, suppliers, competitors, government agencies, and regulatory bodies.
Two Types:
- Pure play: Companies focus on a specific product or service, not a diverse range.
- Brick and click: Companies operate both online and offline, with a website and physical store.

E-Commerce vs. E-Business

E-Business: Encompasses a broader range of activities, including electronic procurement, distribution, marketing, secure transactions, process automation, and electronic collaboration.
E-Commerce: Focused on electronic buying and selling, primarily sell-side (business selling to customers) and buy-side (business buying from suppliers) commerce.

Types of E-Commerce Models

B2C (Business to Consumer): Businesses selling directly to consumers, including direct-to-consumer (DTC) models.
B2B (Business to Business): Businesses providing electronic services within the supply chain, including e-procurement, logistics, stock management, ordering, payments, and distribution.
C2C (Consumer to Consumer): Consumers selling goods and services to other consumers.
C2B (Consumer to Business): Consumers offering products or services to businesses for benefit or payment.
Mobile E-commerce (M-commerce): Conducting e-commerce transactions through mobile devices.
Social E-commerce: Using social media platforms for online shopping and transactions.
Local E-commerce: Focusing on local businesses and customers within a geographical area.

Key Technologies and Concepts

WWW (World Wide Web): Internet's extension with hypertext, enabling linked documents and information access through HTTP (Hypertext Transfer Protocol) and HTML (Hypertext Markup Language).
URL (Universal Resource Locator): Unique address assigned to every document or page on a web server.
EFT (Electronic Funds Transfer): Digital money movement between bank accounts without employee intervention.
EDI (Electronic Data Interchange): Standardized electronic document exchange directly between computer applications, including purchase orders, invoices, and material releases.

Benefits of EDI

Reduced costs: Administration, processing, posting, paper-handling, errors.
Increased efficiency: Transaction processing, document exchange, business cycle speed.
Other benefits: Lower inventory, enhanced customer service.

Major Trends in E-Commerce

Business trends:
- COVID-19 pandemic accelerated retail e-commerce, m-commerce, and on-demand service growth.
Technology trends:
- Mobile platforms and cloud computing are rapidly growing.
- Big data and Internet of Things (IoT) are gaining prominence.
Societal trends:
- Increasing concern about social network impact and dominance of Big Tech companies.

Unique Features of E-Commerce Technology

Ubiquity: Accessibility from practically anywhere.
Global reach: Ability to connect with customers and businesses worldwide.
Universal standards: Consistent communication protocols and technologies.
Information richness: Extensive and detailed information availability.
Interactivity: Two-way communication between businesses and customers.
Information density: Abundance of detailed information per unit of effort.
Personalization/customization: Tailoring products and services to individual needs.
Social technology: Utilizing social media platforms for e-commerce.

E-Commerce History (Key Periods)

Precursors (1970s-1980s): Early systems like Baxter Healthcare's modem-based system, order entry systems, EDI standards, and the French Minitel.
Invention (1995-2000): Initial years focused on simple retail, with limited bandwidth and media. Euphoric visions of frictionless commerce and first-mover advantages. Led to the dot-com crash of 2000.
Consolidation (2001-2006): Business-driven approach, traditional companies expanding online presence, limited start-up financing, and more complex products and services. Growth of search engine advertising and business web presences.
Reinvention (2007-Present): Rapid growth of Web 2.0, social networks, mobile platforms, local commerce, and on-demand service economy. Entertainment content emerges as revenue source, and marketing transforms.
Current Landscape: Retail e-commerce continues to grow, with significant room for future expansion.

Defined as online communication, conveyance, collaboration, and cultivation among interconnected networks of individuals, communities, and organizations, enhanced by technology and mobility.
Built on a philosophy of participation.
Zones of Social Media:
- Social Communities: Platforms for connecting with people and sharing interests (e.g., Facebook).
- Social Publishing: Content creation and sharing (e.g., blogs, Twitter).
- Social Commerce: Promoting products and services online (e.g., Pinterest, Instagram shopping).
- Social Entertainment: Engaging with interactive media (e.g., gaming platforms).
- Social CRM: Customer relationship management through social media.

96% of people globally use smartphones to access social media platforms.
Significant growth and user base of social media platforms globally.

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Description

Explore the essentials of E-Commerce and E-Business in this quiz. Understand the definitions, market activities, and stakeholder roles involved in electronic transactions and online business strategies. Test your knowledge on how these concepts empower businesses today.