Chapter 7 E-Business and E-Commerce

E-Commerce (EC)

Buying, selling, or exchanging products, services, or information via computer networks.

E-Business

Broader than e-commerce; includes servicing customers, collaborating with partners, and conducting internal transactions.

E-Commerce Types

B2C, B2B, C2C, B2E, E-Government, M-Commerce, Social Commerce, Conversational Commerce

Major EC Mechanisms: Electronic catalogs, auctions, e-storefronts, e-malls, e-marketplaces

Degree of Digitization

Brick-and-Mortar (physical only)
Virtual Organizations (digital only)
Clicks-and-Mortar (hybrid)

Electronic Payment Systems

E-checks, e-cards, smart cards, Bitcoin, stored-value cards
Benefits: 24/7 availability, global reach, lower costs, variety of products
Limitations: Security concerns, bandwidth limits, legal ambiguity, lack of buyer/seller mass

E-tailing

Selling directly to consumers online.

Disintermediation

Eliminating intermediaries in a transaction chain

FinTech

 Financial technology enabling new financial services.

Dynamic Pricing

 Prices change in real time based on demand.

Sell-Side / Buy-Side Marketplaces

Platforms for sellers or buyers to conduct electronic transactions.

Reverse Auction

 Buyers post needs and suppliers bid to fulfill them.

Ethical Issues

Privacy, job loss, fraud, domain names, taxes, copyright