Electronic Commerce (E-Commerce) and the Global Economy
[2024-01-25 12:22:13]
E-Commerce (E-Commerce) and the World Economy Introduction The world we live in today is developing mainly in technology, innovation, and change. The world economy incorporates these changes into daily applications and creates a technology-led world in which companies thrive in information and competitive markets. Computers and communication networks plant seeds in this information age, corporations prosperous and formed a revolutionary market economy. One of the most serious changes that occurred in today's business world is the introduction and use of e-commerce or EC.
E-commerce: E-commerce is the ability to access the global market electronically, access real-time market information, improve internal efficiency, reduce costs, and complete commercial transactions. Electronic commerce contributes to the economic growth of developing countries by providing channels for further exporting goods and services. This is especially true for intercompany transactions. Electronic Government: Provide public services and information to citizens online, civil society participate in governance through information technology. The e-government program focuses on providing government services online and strategically demonstrating the economic benefits and useful usage of IT. This includes improving the efficiency of internal information to support policy makers, improving the provision of government services, and accessing government information by civil society and strengthening response to government information.
In emerging economies, e-commerce (e-commerce) has become a powerful catalyst for economic development and has become an essential element of business strategy. As a result, e-commerce is a business that may be growing in today's market and its development provides a way for companies to deal with changing environmental problems. In 2001, Vladimir Zwass, editor-in-chief of the international e-commerce journal, said, "E-commerce shares business information, maintains business relationships and conducts business transactions via telecommunications networks." On the other hand, e-commerce is the process of purchasing, selling, forwarding, or exchanging products, services, and / or information, primarily via the Internet and the intranet (Headdress, King, Viehland, Lee, Liang and Headscarves, 2011).
If we do some kind of trading or business electronically, it is called electronic commerce. Briefly, e-commerce or e-commerce is the process of trading goods, products, or services through electronic media. The Internet is used here as the primary electronic medium or network for conducting such transactions. In other words, e-commerce is a medium in which goods and services are traded between buyers and sellers through electronic media. Electronic commerce is also known as a paperless business information exchange using EDI, e-mail, electronic money transfer and the like. For example, Amazon, eBay, Flipkart, etc. are world leading e-commerce sites. Electronic payment systems are widely used in these e-commerce sites. Here we usually buy and sell items using various electronic payment methods such as credit card / debit card, online banking, electronic wallet etc.