E-commerce in the new millenium and its advantages.

Essay by jdogg2344 August 2003

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'E-commerce in the new millennium'

Electronic commerce is the paperless exchange of business information using electronic data interchange (EDI), through means of email, electronic bulletin boards, fax transmissions and electronic funds transfer. The concept of e-commerce is about using the internet to do business better and faster, it refers to internet shopping, online stock and bond transactions, the downloading and selling of "soft merchandise" (software, documents, graphics, music, etc.) and business to business transactions. E-commerce is about giving customers controlled access to a businesses computer system and letting them serve themselves.

The internet is also a way for a consumer to communicate with a company's computer system without human intervention. The internet is a communication medium like the many others we use in business every day; it is also a reasonable alternative to all other means of communication.

Every era of business has new strategies and new ways of doing business, through radio and television came the first mass-marketing advertising.

With the introduction of the internet changing business, the rules for corporate strategy held for the last 50 years have begun to crumble.

There are some elements of regular commerce that are necessary for any transaction to take place, they also apply to e-commerce. First, whether you are conducting business in the real world or online, you have to have a product to sell or service to offer. Then there must be a place from where business is conducted, in the world of e-commerce the place from where business is done is the website. For businesses that already exist in regular commerce adding a website is a way of enhancing the business, for Internet startup businesses the website is the only place where business is conducted.

In order to do business, the company also needs a way to take...