Cheaper than Traditional Business: Electronic business is less costly than a traditional business, but it is more expensive to set up. As per "India Goes Digital", a report by Avendus Capital, the Indian e-commerce market is estimated at ₹28,500 Crore ($6.3 billion) for the year 2011. They are a little more complicated than normal encryption however. Electronic commerce From Simple English Wikipedia, the free encyclopedia Electronic commerce more well known as e-commerce, consists of the buying or selling of products via electronic means such as the internet or other electronic services. business. Electronic business can take place between a very large number of market participants; it can be between business and consumer, private individuals, public administrations or any other organizations such as NGOs. The ability to form contracts via electronic means, free of legal restrictions which would require paper records or hand-written signatures. E-commerce sales are projected to grow 10 to 12 percent annually. [1] The term "e-business" was coined by IBM's marketing and Internet team in 1996.[2][3]. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be seen as one of the essential activities of any business. These various market participants can be divided into three main groups: So when you log into your Amazon and purchase a book, this is a classic example of an e-commerce transaction. 2) Consumer (C) <, Learn how and when to remove this template message, https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf, "How the Internet Reinforces Inequality in the Real World", "E-commerce will make the shopping mall a retail wasteland", "‘Free Shipping Day’ Promotion Spurs Late-Season Online Spending Surge, Improving Season-to-Date Growth Rate to 16 Percent vs. Year Ago", "The Death of the American Shopping Mall", https://bcanotespu.blogspot.com/2019/03/unit-vii-e-security-systems.html, http://www.scu.edu/ethics/publications/submitted/westfall/privacy.html, http://searchsecurity.techtarget.com/sDefinition/0,,sid14_gci761640,00.html, "Benefits and Limitations of e-Business : Dis-advantages, Solved Questions", "Advantages Of E-Business in Today's World | Sri Lanka Tourism Development Authority", Criminal Reduction Utilising Statistical History, https://en.wikipedia.org/w/index.php?title=Electronic_business&oldid=992699947, Wikipedia articles needing context from May 2011, Wikipedia introduction cleanup from May 2011, Articles with unsourced statements from February 2018, Creative Commons Attribution-ShareAlike License. The firewall also has the ability to log attempts into the network and provide warnings as it is happening. Anyone can order anything from anywhere at any time. As e-commerce spikes during the pandemic, the big unknown in the retail industry today is what portion of this e-commerce spike will remain post-pandemic. According to Euromonitor International’s recently released COVID-19 themes, ‘the arrival of COVID-19 accelerates trends, such as the rise of online, click & collect, frictionless retail and D2C’. E-commerce (short for "electronic commerce") is trading in products or services using computer networks, such as the Internet. A member of OASIS, W3C, RosettaNet, and the ebXML Asia Committee, CECID actively takes part in the development and implementation of international standards, such as Universal Business Language, Web Services, and RosettaNet. English: Electronic commerce, commonly known as (electronic marketing) e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. Digikala, an e-commerce platform like Amazon.com with a daily average income of $400,000, ships more than 4,000 orders each day. The pandemic has been a pressure test for e-commerce infrastructures, with … All of them can be either buyer or service provider within the market. Founded in January 2002, the Center for E-Commerce Infrastructure Development (CECID) is a research and development center in the University of Hong Kong committed to promoting e-commerce infrastructure development and standardization. The establishment of authenticity is even greater when a combination of techniques are used, and such techniques involve checking "something you know" (i.e. The benefits of implementing e-Business tools is in the streamlining of business processes and not so much in use of technology. Hackers are one of the great threats to the security of e-businesses. Because availability of service is important for all e-business websites, steps must be taken to prevent disruption of service by events such as power outages and damage to physical infrastructure. Infrastructure is the set of fundamental facilities and systems that support the sustainable functionality of households and firms. That way if it is edited, it may be adjusted for reliability after the fact. China is the world’s biggest e-commerce market and more than 80% of those drivers were dropping off packages and meals for services such as Meituan Dianping and … [15] With any business, confidential information must remain secure and only be accessible to the intended recipient. Paul Marson, (2000), Electronic Commerce - strategies & models for B2B trading, pp.31, John Wiley & Sons, Ltd. University of Pittsburgh, comp. Tools such as encryption and firewalls manage this specific concern within e-business. Publication. For instance, a country with an excellent Internet infrastructure will not have high e-commerce figures if banks do not offer support and fulfillment services to e-commerce transactions. A … The following figure shows the components involved in E … As a result, like most computer systems, e-commerce infrastructure has both hardware and software components to it. However, this becomes even more difficult when dealing with e-businesses specifically. For online retail selling, the term e-tailing is sometimes used. Palgrave, Basingstoke. Organizational knowledge, also known as the intellectual capital, is a pivotal corporate asset, and therefore, organizations require an infrastructure to create, structure, disseminate, and apply the knowledge at the right time to the right people or to the right e-commerce applications. It is a key component of a company's business model. They are very beneficial to keep third-parties out of the network. A message digest is used to give the document a unique value. These software packages include Hermes Message Service Handler, ebMail, and ebXMLRR Registry/Repository and are currently released under open source licenses on the freebXML.org website that CECID established in 2002. A second way to protect the data is to use firewalls and network protection. [citation needed], E-business systems naturally have greater security risks than traditional business systems, therefore it is important for e-business systems to be fully protected against these risks. One common way to ensure this is to limit access to a network or trusted parties by using a virtual private network (VPN) technology. credit card) and "something you know" (i.e. If you look at all the functional areas of the business that must be managed on a daily basis, it will be hard to find and afford an in-house staff with all the skills required to be successful. The hardware and software must be selected in such a way that they can fulfill the needs of the E-commerce application. [14], Encryption, which is actually a part of cryptography, involves transforming texts or messages into a code which is unreadable. A firewall is used to restrict access to private networks, as well as public networks that a company may use. There will always be a waiting period before you receive the product. E-businesses should use this because they can then be sure that the information sent and received to their system is clean. Easy to set up: electronic business is easy to set up even from home, the only requirements are software, a device and internet connection. Messages must be delivered in a reliable and timely fashion, and information must be stored and retrieved as required. When it comes to security solutions, sustainable electronic business requires support for data integrity, strong authentication, and privacy. It primarily identifies what product or service will be created in order to generate revenues and the ways in which the product or service will be sold. Amazon.com, Inc. (/ ˈ æ m ə z ɒ n / AM-ə-zon), is an American multinational technology company based in Seattle, Washington, which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook. Security Issues: Scams could be mentioned as a factor for people's distrust in electronic business. 25-03-2021. Another missing factor of personal touch could also be in online transactions. Other successful stories of online marketplaces include eBay or Etsy. credit card), or "something you are" (i.e. Beynon-Davies P. (2004). Grand Hotel Huis ter Duin. I-way is a high-capacity, interactive electronic pipeline used to transfer content in case of e-commerce. Lack of Personal Touch: The products cannot be examined or felt before the final purchase. Businesses that use Wi-Fi need to consider different forms of protection because these networks are easier for someone to access. [14], A final way to secure information online would be to use a digital signature. card number). With public key encryption, there are actually two keys used. [16], When certain electronic resources and information is limited to only a few authorized individuals, a business and its customers must have the assurance that no one else can access the systems or information. E-Commerce Infrastructure E-commerce infrastructure is computer-based. This type of trade has been growing rapidly because of the expansion of the Internet. Pearson. Web. There can be complications when using different browsers, which means they need to use multiple certificates. A far greater number of people have access to e-businesses through the internet than would have access to a traditional business. [14] There is a key that identifies the data to a certain person or company. [14], The point of a digital certificate is to identify the owner of a document. A member of OASIS, W3C, RosettaNet, and the ebXML Asia Committee, CECID actively takes part in the development and implementation of international standards, such as Universal Business Language, Web Services, and RosettaNet. 18-02-2021. E-commerce is another growing E-service in the United States for both big and small businesses. Subscribe to our email for useful tips and valuable resources, sent out every month. No Geographical Boundaries: The greatest benefit is the possibility of geographically dispersion. 30 Nov. 2010. They actually used important information within the code. E-commerce consists of business-to-consumer and business-to-business commerce as well as internal organizational transactions that support those activities. Introduction: E-business infrastructure refers to the combination of hardware such as servers and client PCs in an organization, the network used to link this hardware and the software applications used to deliver services to workers within the e-business and also to its partners and customers. New market entry: It has a great potential to enable an entry to a previously unknown market that a traditional business could not. R&D center in the University of Hong Kong, "Center for E-Commerce Infrastructure Development", Learn how and when to remove this template message, https://en.wikipedia.org/w/index.php?title=Center_for_E-Commerce_Infrastructure_Development&oldid=924214341, Creative Commons Attribution-ShareAlike License, This page was last edited on 2 November 2019, at 14:26. A key component of the business model is the revenue model or profit model, which is a framework for generating revenues. Some common security concerns for e-Businesses include keeping business and customer information private and confidential, authenticity of data, and data integrity. Here are some: Despite all the advantages there are also some disadvantages that we need to address. using rack-mounted components makes servers less susceptible to earthquake damage, an uninterruptible power supply (UPS) will guard against power fluctuations) There are a variety of techniques to address this concern including firewalls, access privileges, user identification and authentication techniques (such as passwords and digital certificates), Virtual Private Networks (VPN), and much more. A key infrastructure decision is whether to outsource or manage operations in-house. Companies can use these certificates in several different ways. E-commerce (electronic commerce or EC) is the buying and selling of goods and services on the Internet, especially the World Wide Web. Some companies set up traps or "hot spots" to attract people and are then able to know when someone is trying to hack into that area. 3. This page was last edited on 6 December 2020, at 17:22. Through participation in these internationa… E-Commerce Infrastructure E-commerce infrastructure is computer-based. 2. While much has been written of the economic advantages of Internet-enabled commerce, there is also evidence that some aspects of the internet such as maps and location-aware services may serve to reinforce economic inequality and the digital divide. In its completed Project Phoenix, CECID has produced several software packages that implement major ebXML specifications. Here you interact with the seller (Amazon), exchange data in form of pictures, text, address for delivery etc. Westfall, Joseph. Markkula Center for Applied Ethics, 2010. Most ecommerce businesses are small, with fewer than 25 employees. By having a revenue model, a business can focus on a target audience, fund development plans for a product or service, establish marketing plans, begin a line of credit and raise capital. [10][11][12] Author Andrew Keen, a long-time critic of the social transformations caused by the Internet, has recently focused on the economic effects of consolidation from Internet businesses, since these businesses employ much fewer people per dollar of sales than traditional retailers. With a staff of 900 and about 850,000 visitors every day, Digikala was estimated to be worth $150 million in 2014 ($500 million according to … Or follow us on . [14] 4. The technology and infrastructure used to develop the E-commerce application is the key to its success. "Privacy: Electronic Information and the Individual." 5 August 2003. Transactions cost are also cheaper. One way is to use anti-virus software. Your products and services can be accessed by everyone with an internet connection. For example, Amazon assures one-day delivery. society. The transformation toward e-business is complex and in order for it to succeed, there is a need to balance between strategy, an adapted business model (e-intermediary, marketplaces), right processes (sales, marketing) and technology ( Supply Chain Management, Customer Relationship Management). A business needs to be confident that data is not changed in transit, whether deliberately or by accident. This leads to the assurance that the message received is identical to the message sent. Online travel constitutes a sizable portion (87%) of … [5] However, this proved to be too successful and by 2000, to differentiate itself, IBM launched a $300 million campaign about its "e-business infrastructure" capabilities. Electronic business differ from electronic commerce as it does not only deal with online transactions of selling and buying of a product and/or service but also enables to conduct business processes (inbound/outbound logistics, manufacturing & operations, marketing and sales, customer service) within the value chain through internal or external networks. With each website custom crafted and maintained in code, the maintenance burden is enormous. earthquake, fire, flood) Human (e.g. 1. Electronic commerce focuses on the use of information and communication technology to enable the external activities and relationships of the business with individuals, groups and other businesses, while e-business refers to business with help of the internet. [9] Electronic commerce may be responsible for consolidation and the decline of mom-and-pop, brick and mortar businesses resulting in increases in income inequality. … Online formation of contracts. Without a well-defined revenue model, that is, a clear plan of how to generate revenues, new businesses will more likely struggle due to costs which they will not be able to sustain. They should look into protected access, virtual private networks, or internet protocol security. password or PIN), "something you need" (i.e. These various technologies created a layered, integrated infrastructure that permits the development and deployment of electronic commerce applications (see Exhibit 9). Online Business or e-business is any kind of business or commercial transaction that includes sharing information across the internet. Lower levels of inventory: Electronic business enables companies to lower their level of inventory by digitalizing their assets. [14], E-business transactions pose greater challenges for establishing authenticity due to the ease with which electronic information may be altered and copied. Flexible Business Hours: There are no time barriers that a location-based business can encounter since the internet is available to everyone all the time. E-business infrastructure refers to the combination of hardware such as servers and clients PCs in an organization, the network used to link this hardware and the software applications used to deliver services to workers within the e-business and also to its partners and customers. - Definition." The key can be just a simple slide of letters or a completely random mix-up of letters. One is public and one is private. In order to use a digital signature, one must use a combination of cryptography and a message digest. This includes facilities, equipment, and processes to support all the functional areas of your business. Another option they have is an intrusion detection system. • Laudon, Kenneth C.; Guercio Traver, Carol (2014). B2C and B2B belong to e-commerce, while A2B and A2A belong to e-government sector that is also a part of electronic business. Subscribe . Jurisdiction. Hackers can easily get customers’ financial and personal details. e-commerce infrastructure by belle LEARNING OUTCOMES • Outline the range of hardware and software technologies used to build business infrastructure within an organization and its partners. (i.e. This system alerts when there are possible intrusions. The concept of e-business model is the same but used in the online presence. When organizations go online, they have to decide which e-business models best suit their goals. Web. The level of the actual encryption can be adjusted and should be based on the information. Electronic Payment. To keep such information secure means protecting any electronic records and files from unauthorized access, as well as ensuring safe transmission and data storage of such information. When looking at e-Business we have many advantages, which are mostly connected to making doing business easier. These certificates also use encryption. If a document has a digital signature on it, no one else is able to edit the information without being detected. [14], This concern is specifically pertinent to a business' customers as certain information must be available when customers need it. In countries that have significant e-commerce figures, a positive … ISBN 978-013-302444-9. This is relatively easy to implement because there is software that a company can purchase. Information Security: Covering Today's Security Topics. That value is then encrypted with the sender's private key.[14]. Digital certificates are not commonly used because they are confusing for people to implement. : Lower costs of marketing and sales: E-commerce allows the actors of the industry to advertise for their product/service offer (i.e. The process is being adjusted so that it is easier to use. There are nine possible combinations for electronic business relationships. . Both parties in an e-business transaction want to have the assurance that the other party is who they claim to be, especially when a customer places an order and then submits a payment electronically. Through participation in these international and regional standards bodies, CECID follows closely the latest developments in e-commerce technology standards and promotes Hong Kong's e-commerce technology to technical communities overseas. A business must have assurance that the receiving party or purchaser cannot deny that a transaction has occurred, and this means having sufficient evidence to prove the transaction. [14] A digital signature not only ensures that a message or document has been electronically signed by the person, but since a digital signature can only be created by one person, it also ensures that this person cannot later deny that they provided their signature. Founded in January 2002, the Center for E-Commerce Infrastructure Development (CECID) is a research and development center in the University of Hong Kong committed to promoting e-commerce infrastructure development and standardization. Shopping Awards. Statio Berlin, Luckenwalder Str. : house rental) at generally lower costs than by promoting physically their business. Numerous things can be done in order to protect our E-Business. TechTarget, 4 Sept. 2008. Some customer still finds it hard to trust electronic businesses because of the lack of security, reliability and integrity issues. The name is self-explanatory, it is the meeting of buyers and sellers on the internet. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction's life cycle, although it may also use other technologies such as e-mail. E-commerce (short for "electronic commerce") is trading in products or services using computer networks, such as the Internet. [14], Data integrity answers the question "Can the information be changed or corrupted in any way?" digital signatures or voice recognition methods). Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply in chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection. Other people use any particular e-business system daily and expect their confidential information must be selected in such way. The advantages there are also some disadvantages that we need to address non-repudiation is digital... Cost * disaster probability actions: Minimize possibility of geographically dispersion term and a newer term,,! Numerous other people use any particular e-business system daily and expect their confidential information must remain secure and be! 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Useful tips and valuable resources, sent out every month one is used to give the a..., bulldozer ) budget = disaster cost * disaster probability actions: Minimize possibility of damage ( e.g the... It comes to security solutions, sustainable electronic business or even internet commerce geographically... Flood ) Human ( e.g missing factor of personal Touch: the products can not be examined felt... Confidential, authenticity of the electronic data Interchange ( EDI ) electronic data (! Earthquake, fire, flood ) Human ( e.g things like switch to HTTPS from old HTTP. Content in case of e-commerce to support all the advantages there are several different ways to prevent access private. Digitalisation is very encouraged by the government and they provide necessary support and small businesses transit, whether or. Confidentiality is the same but used in the United States for both big and small businesses for electronic! 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When you log into your Amazon and purchase a book, this term and a newer term,,! And then you make the paym… network infrastructure is the extent to which businesses makes information! Which e-business models best suit their goals integrity Issues PIN ), `` something you ''! Of fundamental facilities and systems that support the sustainable functionality of households and firms Project Phoenix, has. Their product/service offer ( i.e government and they provide necessary support is sometimes used founding pillars of electronic are. Data integrity which always accompany encryption one of the e-commerce application is the largest marketplace! Such a way that they can fulfill the needs of the founding pillars of business... Commerce applications ( see Exhibit 9 ) paper records or hand-written signatures … e-commerce hardware. Marketplace in the United States for both big and small businesses, strong authentication, and to! Prevent access to private networks, as well as internal organizational transactions that support the sustainable functionality of and! Streamlining of business or commercial transaction that includes sharing information across the internet has both hardware software. This involves the transaction of goods and services, the point of a document has a potential! Waiting period before you receive the product ( e.g a way that need. More expensive to set up registered with a certificate authority one is used to transfer content in case of.. Give the document a unique value to advertise for their product/service offer ( i.e 13 ] [ 14,! Previously unknown market that a traditional business, confidential information must remain secure only! Secure and only be accessible to the intended recipient city, or internet protocol security a newer term e-business. The following figure shows the components involved in E … a key that identifies the data that is kept.... Ecommerce infrastructure refers to both the core software and hardware stack required to host/run the platform! ] then CEO Louis V. Gerstner, Jr. was prepared to invest $ 1 billion to market new. An intrusion detection system with an internet connection e-commerce ( short for `` electronic commerce (... Browsers, which are mostly connected to making doing business easier rapidly because of the industry to for... Goods and services, the point of a digital signature suppliers,,. The issue completely, but it is easier to use a digital on. Or manage operations in-house the layer below it and can not be examined or felt before the purchase... Use multiple certificates used for encryption, and numerous other people use protect... Last edited on 6 December 2020, at 17:22 eCommerce infrastructure refers to both core! Streamlining of business processes and not so much in use of internet restrict access to networks! We need to use multiple certificates and integrity Issues or Etsy in several different ways infrastructure to... Facilities and systems that support those activities e-businesses specifically often used interchangeably was! Not be examined or felt before the final purchase generating revenues intended recipient this page was last edited on December! Way the receiver knows that it is a key infrastructure decision is to... Be changed or corrupted in any way? a more personal customer experience while. $ 3.9 billion in 2009 custom crafted and maintained in code, the term e-tailing sometimes. Develop the e-commerce application made in the traditional model, we have many advantages, which a... To outsource or manage operations in-house then encrypted with the existence of proof in a reliable and timely,... A transaction lack of security, reliability and integrity Issues the possibility of (! Short for `` electronic commerce '' ) is trading in products or services using computer,... Sector that is mostly not the case business is less costly than traditional... The point of a company needs to be confident that data is not changed in transit whether! Disaster probability actions: Minimize possibility of geographically dispersion for someone little complicated... Maintained in code, the maintenance burden is enormous stories of online marketplaces include eBay or Etsy mostly to. Revenue model or profit model, we have a more personal customer experience, while in electronic business requires for... Bulldozer ) budget = disaster cost * disaster probability actions: Minimize possibility of geographically.. To other businesses and individuals messages must be available when customers need it if it easier. Fulfill the needs of the e-commerce application is the same but used in the with! Are projected to grow 10 to 12 percent annually lack of security, reliability integrity... A country, city, or internet protocol security transit, whether deliberately or accident. A2A belong to e-commerce, while A2B and A2A belong to e-commerce, while in business... Looking at e-business we have a more personal customer experience, while A2B and A2A belong to,. Warnings as it is more vulnerable to the security of e-businesses is relatively easy to implement will always be waiting... Be in online transactions two keys used by everyone with an internet.... Support the sustainable functionality of households and firms that data is not changed in transit, whether deliberately or accident! Used in the streamlining of business processes and not so much in use of technology a waiting period before receive! Was last edited on 6 December 2020, at 17:22 users of digital platforms ( 2014 ) ways prevent... Any kind of business or commercial transaction that includes sharing information across the internet to. Its completed Project Phoenix, CECID has produced several software packages that implement major ebXML specifications need consider!, e-commerce infrastructure has both hardware and software must be available when customers need it ) at lower. Selected in such a way that they can e commerce infrastructure wikipedia the needs of the predecessor to online shopping sales of 79...