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Electronic commerce or E-commerce can be broadly classified as the set of business activities involving consumers, service providers, manufacturers and intermediaries, who use computer network such as the internet for conducting their business transactions.
The primary goal of e-commerce is to bring the organization closer to their actual customers, thus providing the customers the products and services much faster and at the lesser cost than possibly by the traditional business models.
The other goals include the reduction in product and service cost (by making use of technology developments to improve communications and payment process), improve the quality of the products and services and improve customer satisfaction. This implementing e-commerce has become a business necessity, as companies that fail to take advantage of this technology will soon find themselves out of business.
Continuing increases in the computation power of computers and the capacity of networks to carry data have put us on the doorstep of the new era in distributed computer processing. Teraflop computers (Tera or one trillion floating point operations per second) and gigabit networks will enable computers to access remote information and provide services that will for many applications diminish the importance of distance to virtual insignificance.
These advance in distributed computing will revolutionize the way we acquire information, interact with our colleagues, and carry out business and social activities.
The computer will provide the raw computational power necessary to support new and powerful software applications; high-speed networks will support convenient user-to-user communications and allow access to information throughout the network.
In the future environment, commerce will be carried out in a way that is markedly different from the way it had been carried out in past. Many of our business transaction will be carried out without human intervention.
Many of our educational endeavors (such as distance learning, interactive classrooms, digital libraries, web-based teaching, etc.) and social interactions (on-line shopping, video conferencing, chat sessions, e-mail, etc.) will take place without leaving our homes. This new manner of carrying out commerce is called electronic commerce.
Electronic commerce integrates communications, data management, and security services, to allow business applications within different organizations to automatically interchange information. Communications service transfer the information from the originator to the recipient.
Data management services define the interchange format of the information, Security services authenticate the sources of information, verify the integrity of the information received by the recipient, prevent disclosure of the information to unauthorized users, and verify that the intended recipient received the information.
Electronic commerce applies and integrates these infrastructure services to support business and commercial applications including financial transaction such as electronic bidding, ordering and payments, and exchange of digital products specifications and design data.
E-commerce is a multidisciplinary field that includes; technical areas such as networking and telecommunications, security and storage and retrieval of multimedia information, business areas such as procurement, purchasing, producing, marketing, billing and payment, and supply chain management.
It also includes legal aspects like information privacy, intellectual property, taxation, contractual obligations, etc. It includes financial aspects like EDI transactions, credit card payments, and credit card processing, etc.
Information is also an integral part of electronic commerce, but electronic and traditional commerce each deal with information differently. Conveying information has traditionally been done through paper exchanges, direct personal contact, or through the phone or postal systems. In electronic commerce, information is processed in electronic commerce also differs from the way it has been processed traditionally.
This integration in processing and exchange of information can be achieved through integrating a set of services. This set is made up of communications, data management, and security services.
By integration, these services with the business application, electronic commerce can make these services transparently available to the user. Through this integration and automation, conducting commerce is made more efficient, convenient, and accurate.
A number of activities, including mail exchanges, electronic funds transfer, remote access to database systems, and automatic monitoring of store inventory levels, automated production planning and just in time (JIT) manufacturing, automatic purchase order processing and fulfillment, web-based customer support, etc., can be used in electronic commerce.
It is the expansion of these activities, along with their incorporation into the process of conducting commerce electronically, that is, one of the major objectives of electronic commerce.
E-Governance is generally associated with the work of government which provides, services via computer networks. Todays e- governance is a reality and is rapidly growing and has become an integral part of the business environment. We have seen an introduction to e-governance, its benefits and the factors driving its growth.
Back in 1994, when companies started putting up public websites, those websites were primarily meant for advertising and providing public laws, rules, regulations, and information. Doing e-governance was not a goal of the organizations at the time.
In 1994, there were less than 1000 organizations worldwide having a website. In 1994, different kinds of services are provide over the Internet, reaching each and every demand of public using the Internet, creating new ways of transaction business over the Internet, etc., were not even in the wildest dreams of the companies having a web presence.
Today, all these and more are possible and the number of commercial websites has grown to more than 15 million.
Government parties are realizing that the web is having a profound impact on how they conduct social services. With its open new distribution channels, forge communities of providing service In ways of unimaginable just a few years ago, corporations are utilizing Internet Technology to set up e-governance business and successfully conduct trade over the internet.
In this Internet age, E-governance is just the beginning. When you accept payments electronically, they reach your or your bank at ‘Internet speed’ – the speed that you cannot expect in the traditional business transactions. So when you are getting your payments at ‘Internet speed you should be ready to do business transactions.
So when you are getting your payments at ‘Internet speed’ you should be ready supply chain to meet the challenges of the digital economy, automate your business process, achieve information integration and acquire business intelligence, when your organization can take proactive decisions within seconds, react to changes in customer demands and swings in market trends quickly, then you can say that you are doing business the Internet way. Then you call your business E-business.
E-business term truly defines that buying and selling activities done through the medium of Internet via remotely. In this new millennium Internet, WWW and e-commerce are the key industry drivers. No company can survive in this brutally competitive environment if they ignore e-commerce. E-commerce, more specifically, business-to-consumer buy products and services.
It has changed the life for the commission agents, brokers, dealmakers, and the likes. It has brought the consumers- the end users and the manufacturers or services providers closer than ever before. It has created new distributed channels, new customers, and new business opportunities.
In order to do business in this digital marketplace, adoption e-commerce is not enough. As we have mentioned earlier, the entire business operations the entire supply chain (right from the suppliers to the end users) have to be reengineered.
The reengineering should be done keeping the in mind that the end results the goal of the reengineering effort is to do business at Internet speed. When an organization has geared itself, transformed it business structures and cultures and is ready to do business in today’s connected world, we call that organization an e-business (e-biz for short).
E-business is the convergence and fusion of business process, enterprise applications, business infrastructure, technology, information, and organization structure (people) necessary to create a high-performance business.
It is not possible for an organization to execute e-commerce transactions efficiently and effectively without first transforming to the e-business model.
To transform a traditional organization to do e-business involves a use of technology to the fullest Technology advantages are making things better, bigger and bolder. Business is capable of doing things that were unimaginable a few years back. For example, now an organization can receive a purchase order and notify the customer within seconds after the customer has confirmed the order customers can do the order cancellation without involving anybody from the company, the customers can the track the order status and the status of the shipment on-line over the Internet.
These activities took days just a few years back and involved interaction with the customer services staff. Now people can make on-line payments over a Secure Socket Layer (SSL) and be reasonably sure that the information will not be tampered with or end up in the hands of wrong people.
They can download and transfer digital cash to their friends or pay for the good they have bought. It is technology and organizations the e-business should make technology an ally and should constantly innovate and continuously improve to stay in business and be competitive.
Online learning is one of the fastest growing industries on the Web. It provides a mean for the business to increase the “stickiness” of their Web sites, corporations to reduce the cost of training their employees and individuals to advance their learning according to their own schedules. It also helps elementary, high school and college students find tutors and hosts online portals for buying and selling school supplies.
We explore various education models available on the Internet, including traditional education, elementary and secondary education, information technology (IT), personal interest and corporate training.
We also discuss the social implications of obtaining an education online, such as reduced human-to-human interaction and the effects of the digital divide (people who can afford the equipment and connection services).Links to demonstrations and tutorials allow students to sample online courses and explore tutorial services.
Khanal, R.C. Khanal, R.C. Computer Concept for XII. Pashupatigriha Marga, Thapathali, Kathmandu, Nepal: Ekta Books Distributors Pvt. Ltd., 2010. 9-13.