- what your company sells or to whom it sells,
- where it sells or how long it has been established,
your company is impacted by e-business.
e-business has either already affected, or will soon affect, virtually every business market on earth.
e-business alters market dynamics, breaks down competitive barriers, changes business models, and enables new competitors to challenge long-established players.
The value of transactions processed by e-business is growing fast. In 1999, business-to-business (B2B) e-business transactions exceeded $150 billion in value, and by 2003 it reached trillions of dollars. Business-to-consumer (B2C) e-business, although less than B2B in terms of transaction value, is growing nearly as fast.
Though the growth of e-business is one reason to care about e-business, ultimately the main reason to care about e-business is its impact on market dynamics. The decisions you and your competitors make about how to transact business online will have a great influence not only on the profitability of your business, but also on its durability. To care about e-business today is to survive.
In this module, you will learn why e-business is so central to today's economy and how it got that way. By the end of the module, you should be able to perform the following tasks:
In addition to these essential elements, there are a number of other e-business elements that can have a significant impact on e-commerce success, such as:
- Marketing and advertising: E-commerce businesses need to invest in marketing and advertising to reach their target customers and generate sales. This can include online marketing channels such as search engine optimization (SEO), pay-per-click (PPC) advertising, and social media marketing.
- Data analytics: E-commerce businesses can use data analytics to track their sales, traffic, and other key metrics. This information can be used to make informed decisions about product development, marketing, and customer service.
- Security: E-commerce businesses need to implement robust security measures to protect their customers' personal and financial information. This includes using secure encryption protocols and storing customer data securely.
By focusing on these key e-business elements, e-commerce businesses can increase their chances of success in the competitive online marketplace.
The next lesson is about the business necessities and opportunities of becoming an e-business.