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The term "eBusiness" usually refers to the broad scope of electronically-enabled activities, including business-to-consumer (B2C) and business-to-person (B2P) activities. For example, using technologies (email, web, and web-enabled processes) to foster communication between people and machines. As the Internet has continued to grow exponentially, businesses have realized greater practical application of e-business.
Ecommerce is a paperless business environment that integrates electronic transfer and automated business systems. The encompassing definition includes: conduct of business transactions, supporting functions such as, administration, finance, logistics, procurement and transportation, between entities using an integrated automated information environment to interchange business information.
Business-to-Consumer ecommerce, also referred to as “e-tailing”, has created a cost-effective way to market and sell directly to individuals. By eliminating the need for physical stores and their staffing, etailers are able to offer a greater variety of products at a more competitive rate; the added cost for users is shipping.
E-business can be done two different ways: through a third party or independently. Third party sites, such as eBay, provide the platform and network security—at a cost. Often, businesses begin using third party sites to marketing their products and later move to hosting their own check out. Developing your own business etail solution provides greater consumer credibility—and greater margins.
E-business has spurred innovations in:
Most businesses use a form of e-business already, without realizing it. Email transactions are one way business has been brought online. The next cost-saving step is to automate transactions online through process automation on your ecommerce storefront; this replaces costly human resources with computerized processes.
This growing market requires a strong investment—for a strong return. E-business requires secure platforms, among other things. It is important to consult an expert in e-business to avoid costly data breaches and legal problems. When done correctly, an ecommerce website can be very profitable for its owner.
Special Consideration: Marketing your e-business requires a stronger budget than typical web marketing initiatives. Because your e-business relies on continuously gaining new clients, you’ll need a living strategy—that is, a continuous effort to adapt to the Internet market. You will need to dedicate 20-30% of your sales projections to e-business marketing efforts.
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