E-COMMERCE TECHNOLOGY

E-commerce Technology



Evolution of E-commerce Technology

Introduction

The benefits from e-businesses are growing day by day, that is why the reputable companies developed multiple systems to overthrow the obstacles faced by customers to confirm a bright future for e-business, but it is hard to know whether this will imply some trade with people in the future. However, the only thing sure about it is that e-commerce is present to be forever. For instance, online businesses have a wonderful plan to make businesses more enjoyable than before by selling different products by different ways such as vote, offers, etc (Zhu & Kraemer, 2002). The benefits that are accrued to firms from e-businesses are that companies expenses decreases to a very large extent. The process to create sites on the Web is more inexpensive than building markets or maintenance of offices. The installation of high-priced equipment used in customer service, reduces the need in the company to use a large number of staff for selling the company product. To connect successfully with partners and customers, e-businesses provide an effective way to swap information with partners. Also, e-commerce is a best chance for companies to take advantage of the goods and services provided by other companies (Hill, 2000).

This paper aims at discussing the concept of electronic commerce and its popular implications in the current business world. The paper goes on to describe the Online Translation Services Industry in the US, with specific relevance to Lionbridge Technologies Inc., which is one of the leading companies in the industry. The paper presents a detailed analysis of the industry and the company through the Porter's Five Forces Model and the application of SWOT and PEST models. It further links these forces that shape up the industry and its response behaviors.

E-Commerce

Electronic commerce (e-commerce) is generally defined to encompass any commercial activity that uses the transmission of electronic data to facilitate buying and selling. E-commerce therefore spans a wide variety of industries, not only those trading in tangible goods (as traditional brick-and-mortar storefronts do) but also those brokering the transfer of intangible ownership rights. It also uses a wide variety of technologies, ranging from the simple buying and selling of products using electronic mail to more complex inventory-tracking systems that automatically replenish stock based on sales.

Over the past 10 years, e-commerce has become an integral part of business organization and economic strategy—accounting for more than $3.3 trillion worth of transactions in the U.S. economy in 2007 (Philip & James, 2003). E-commerce is of particular relevance to the study of geography as it enables (though it does not guarantee) change in the spatial organization of the economy.

Online Translation Services Industry in the US

This industry includes companies that translate written material and interpret speech from one language to another. It includes companies that provide sign language services. The services provided by this industry include document translation and website localization, meaning translation of website information into languages for use in other countries, taking into account any unique cultural and linguistic traits ...