Technology & Change. What is e-commerce? Electronic commerce E-commerce is the buying and selling of products or services over the Internet. E-commerce.

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Presentation transcript:

Technology & Change

What is e-commerce? Electronic commerce E-commerce is the buying and selling of products or services over the Internet. E-commerce has now made it possible for small businesses to compete with much larger businesses.

Small businesses have the flexibility to adapt to changing trends. Larger businesses are delayed by lengthy decision-making processes. There are always new opportunities for business startups because the economy is evolving and society is changing.

Downsizing? Many Canadians have lost their jobs and have been forced, by necessity, to become entrepreneurs. New opportunities with technology have made it necessary for companies to downsize.

Three types of e-commerce: 1.Business to Business 2.Business to Consumer 3.Consumer to Consumer

1. Business to Business It is the largest form of e-commerce involving business of trillions of dollars. The buyers and sellers are both business entities and do not involve an individual consumer. It is like the manufacturer supplying goods to the retailer or wholesaler.

1. Business to Business E.g. Dell sells computers and other related accessories online but it is does not manufacture all those products. So, in order to sell those products, it first purchases them from different businesses i.e. the manufacturers of those products. Another example?

2. Business to Consumer This is the most common e-commerce segment. In this model, online businesses sell to individual consumers E.g. An online pharmacy giving free medical consultation and selling medicines to patients.

3. Consumer to Consumer It facilitates the online transaction of goods or services between two people. Though there is no visible intermediary involved but the parties cannot carry out the transactions without the platform which is provided by the online market maker. E.g. eBay

Today’s Assignment: 1.Define and give an example of the following two terms: a)Networking b)Incubators 2.Create a table with at least SIX advantages to e-Commerce. 1.E-BITS & BYTES assignment