E-BUSINESS

E-Business

[Name of the Institute]

DateE-Business

Introduction

The idea of the e-business technology has got many appreciations to the new advanced and improved way, where people can work through the technology in the areas of business, through the transformation of internet. However internet is the basic technology which has shaped the world of business into a new sculpture, with the help of the implementation of new technologies. The technology of internet intends to change the life of a lay man, they changed the trend of buying along with the medium, through which the business traditionally works, and more over the internet has modified the mediums of communication as well.

However, defining the term E-business, it is the linking of a business with the techniques and tools of knowledge, information, data, and technologies, where communication plays a very crucial role, in order to improve and enhance the overall way of communication and the operation. Communication has the main role in creating and delivering the overall value to the customers, stakeholders, its suppliers. E-business is linked with all types of business, whether they have only online presences which are usually known as click and mortar, or the business who have their presence on ground, along with the internet, and also doing online monetary transactions, through the facility of credit cards.

E-business is about the business which usually asks for support for the commercial association, among the customer and the company. The basic concept of e-Business exclaims the proclamation of such a business that is in linked with the overall businesses objective, vision, and the commodities they are offering, which in return would give them the overall profits, and the retained earnings. It is also dependant on the analysis of the market to evaluate and identify the customer types those are most favorable to make the purchases of the product, and also to evaluate how much they are actually willing to pay the amount for the product.

According to Gerstner, "E-business is all about time cycle, speed, globalization, enhanced productivity, reaching new customers and sharing knowledge across institutions for competitive advantage (Mintel, 2005, pp. 56-67)." 

However, in this global economy, where the technology has all the power, through its power it has been able to change the way of business, and communication. It has been said that information has the varying attributes, where it can be customized, differentiated and personalized. It can be dispatched to a great number of people who are on a network and it can reach them with a great speed. To the extent that the information is public and accessible, people will better be informed and able to make better choices.

Thus, it is very important to make e-marketing strategies within the business, in order to add customer's value, which will be beyond the value offered in the traditional marketing (McKay 2004, pp 45-56).

Amazon

Amazon is a famous online retailer, which has started their moves in the world of online business as a first mover in this industry. Amazon has been able to achieve the edge of being ...