Electronic Business

Electronic Business is a business procedure that depends on computerized information techniques.  Web based technology gives life to Electronic business or e-Business. Lou Gerstner, Chief executive officer of IBM executed the term "e-Business". E-business techniques facilitate companies to connect their domestic and peripheral data processing systems, and efficiently satisfy the expectations of their clients.

Electronic Business involves processes such as electronic buying, supply chain administration, customer service dealings, business partner's collaboration and electronically processing instructions. Unique technical values for electronic business assist the substitution of data among companies. Electronic business software clarifications allow the incorporation of intra / inter company processing.  E-business is performed using the internet, intranets, extranets or the grouping of all these. 

 

Application of e-Business:

 

There are three main application areas of e-Business:

 

1. Internal business organization: This includes customer relationship administration, project resource planning, deed management schemes and human resource administration.

 

Customer relationship administration is the custom of cleverly finding, promoting and examining customers. Technologies that sustain the business principles include the capture, storage and study of vendor, partner, customer and internal progression information.

 

Project resource planning incorporates all the information and procedures of a business into a combined system.  This system includes multiple mechanisms of software and hardware to attain the integration. A combined database to store information for different modules is the key ingredient of the project resource planning system.

 

Deed management scheme is a collection of computer program to follow and store electronic documents. Digital property management, image documentation, record management systems and workflow systems relate to the Deed or document management scheme.   

 

Human resource administration is the calculated and rational approach to the organization’s treasured assets. Human resource administration is a business practice and an intellectual theory that deals with the hypothetical and the realistic method of administrating a workforce. 

 

1. Project communication and association:  This system includes voice over internet protocol, content administrative system, voice mail, e-mail, business process management and web conferencing.

 

1. Business to business e-commerce: Includes online shop, online multi level marketing and supply chain management.

 

Consumers purchase products or perform tasks over the internet using online shops. Online shops suggest physical correlation of product purchasing or other services at a shopping mall. 

 

Supply chain management is the technique of scheduling, executing and controlling the tasks of the supply chain professionally. SCM carries out the movement and accumulation of raw products.

 

Online marketing is the promotion of products or other service areas through the internet. One of the advantages of online marketing is low cost. In addition, it readily provides information to global audience. The cooperative nature of online marketing business is a unique quality.

 

Models of e-Business: 

 

E-business model is practiced online for the benefits of customers and suppliers.  Some of the models are E-shops, Virtual communities, Collaboration stages, Third party market place and many more. All these models are emerging types of computer software.  Collaboration stage is a combined stage that maintains synchronous and non-synchronous communication through different channels. Virtual community is a collection of people at initial stage.

 

There are major classifications of E-business such as business to business, business to consumer, business to employee and many more. Hence, E-business helps to make the communication faster in this fast growing world.

Article Tags: Electronic Business, Supply Chain

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