What is Electronic Business Concepts and Definitions
There have been new words that have been commonly used: e-business (e-business) or electronic business (e-business), buying and selling through the Web-performs business through the internet, e-commerce (e-commerce). Many experts use terms like e-economics, virtual enterprise, and the internet.
The words e-commerce, e-commerce, and e-market are actually mixed and almost interchangeable with each other. But they still are separate terms, while similar, cross-sectional.
Business processes in branded form. This allows work with employees, internal structures and procedures, including back-office workflows, and the relationship with the outside world to be unified. The second aspect is the way money can be made from electronics and communications, or the e-company in its limited sense.
There is a common concept of e-business: e-business is the distribution of services or an end product through electronic means, which permit modern IT. Such are the TV, telephone and the Internet.
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E-business is a Highly new Technology for work
E-business that enables a company to achieve a competitive advantage by enhancing customer service and optimization of business relations. Internet innovations are one of the main aspects of e-business but they are not the only ones.
E-business is, strictly speaking, a traditional tool for companies. The tool is also the most effective, which allows you to optimize the entire technical chain from the forming of a concept to the final result, i.e. maximum capital turnover, in any economic operation.
It is important to distinguish e-business from e-commerce – an electrical process that transfers from one person to another ownership or right to use a product/service. E-commerce is a particular case of e-business from that point of view.
In the combination of “e-business” there lies the main idea: electronically transferring formalized business transactions to the Internet, which calls for an overhaul of the entire business model. As with conventional e-business, e-business requires an integrated approach, including technology, processes, and structure-supported planning and management.
To e-business, safe and stable software and hardware, networks, communications, and, of course, the internet are the key burden of support.
What is E-business for? The goals are known
Consider the company’s main market more profitable and the company itself more successful.
High quality of services, easy tools for the contact between a business partner and a customer, 24/7 access to all elements involved in the order, that is, full coordination with all manufacturing cycles of the business partner before approval, is what will create a long-term partnership that benefits each other.
Sales, marketing, financial analysis, payments, recruitment, user support, and partnership support are considered in E-commerce.
The business solution-a framework that guarantees that Internet technology-based e-business works. In the context of the app, the catalog, or online store you can introduce a business solution, etc.
We may display a propensity toward convergence, collaboration, and economic synergy now that technical assistance has appeared and standards have been developed. Entrepreneurship in its entirety is moving towards globalization guided by economic law and selection of the natural market. This process is made easier by e-business.
This can be divided into five phases. Growing is based on the former and reflects a particular degree of management and business sophistication. In the first stage, each company optimizes its own internal operational efficiency: developing behavior strategies focussed on e-business, adapting management, marketing, and administrative structures, implementing ERP systems (Enterprise Resource Planning).
In the first step, an integrated IT strategy and system infrastructure was built for ensuring and maintaining business processes, and an infrastructural portion of computer hardware and software (location network, wide area network, intranet) installed to connect the divisions of the organization with internal programs and between them, and the application system extended Such initiatives will minimize costs, standardize and improve the efficiency of the employees of the company.
This prepares the organization for new growth phases. But then there’s the funda. In step two, the focus is on the outside, focussing on the market growth. We are implementing internet applications that provide customers with easy access. Companies build new networks to connect by extending their IT infrastructure Sub-contractors, retailers, and customers. It builds areas of interest that can unify systems and share capital by consolidating knowledge.
In general, these communities are coordinated and run under the leadership of a dominant individual (intermediary). Commercial interactions with group members today typically include the integration of existing market practices with businesses or firms and customers, such as the purchasing and selling of products, their classification, the exchanging of shared knowledge, the exchange of information, e-mail information, and other details. Modern market practices.
When expertise is acquired and shared confidence develops, intimate partnerships between community members are forming more and more. The investment model is turned into a model of cooperation. This step makes it possible to move to the third phase – strategic e-business.
Business goes beyond the B2C cycle and is included in the B2B cycle
Electronic keiretsu are emerging that transcend corporate boundaries and integrate all actors — from consumers, retailers, and suppliers to manufacturers — into a single workflow through the Internet, intranets, and extranets.
Structures of this kind can have a lot in common: sources of information, labor force, business processes, market strategies. This enables participants to achieve greater efficiency in their operations and economies of scale, which in turn require much lower production costs than working alone. The overall business cycle time is reduced, accelerating the flow of goods and services. In this regard, on the one hand, circulation costs within the system decrease, which creates new value, and on the other hand, the development time of application programs (to their market maturity) is shortened.
The third phase is characterized by the large-scale and coordinated implementation of progressive e-business strategies such as Quick Response (QR), Paid on Production (POP), Evaluated Receipts Settlement (ERS), managed
supplier of inventories (Vendor Managed Inventory – VMI). As a result, companies’ internal business processes are standardized, and thus paves the way for the implementation of those applications that are best for creating a truly open system. In the first and second phases, technology was at the fore, the third phase broadened the horizon by focusing on the strategic aspects of e-business between companies and communities.
E-business centers are merging step by step into regional retail chains
Economic synergies are produced in the fourth process. E-business centers are slowly integrating with traditional e-services, software, and platforms into national retail chains. Increase integration between states, countries, and geo-economic structures.
Company-wide business engineering, e-code of behavior, use of software applications, and procedure interfaces introduce the best practices of the industry and common rules of business in the relations between the community members. Joint budgeting, assessment, and IM processes must take place. Job is transferable to online form through legislation (laws and regulations).
On the planet, there are various geo-economic systems. Today they are (and even within) nothing in general. In the fourth step, the question of integration itself emerged for each geoeconomic structure. For regions such as the US and Europe that have diverse market patterns, individual states, and individual countries are governed in various ways, this is difficult to achieve. In addition, not all companies at this level want or can cooperate. Full integration in one region is hardly possible for all these reasons.
Nonetheless, for the most part, 20% of the major players are merged with a substantial likelihood, which accounts for 80% of business activity, which constitutes the critical mass. The role of the state in different geo-economic structures will depend on the degree of support or control provided and the level of requirements.
Final Word on E-Business
In step five, the geo-economical systems converge first into mega-communities or exchange blocks and then combine slowly with all the other regional structures they work as needed. Transnational trade arrangements, export barriers, legislation, and control deals, as well as foreign business and revenue sale and buy-and-taxation overseas, support services, import duties, and value-added investment.
Living-in the fifth step all these problems are overcome. The best model would make free trading possible with a minimum of state and other powerful organizations’ oversight and oversight. In reaching this stage, active and successful corporations, communities, and geoeconomic structures will set the standard for all and will be able to gain crucial economic and strategic advantages in the global battle area. The fifth step is only a utopia in this aspect which is never completely understood in reality in present circumstances. It is a true road to such a society. A great deal needs to be done to develop fundamental technology