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Definition of Ec

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Definition of EC:
Electronic Commerce is the sharing of business information, maintaining business relationship and conducting business transactions by means of telecommunication networks. It includes the sell-buy relationship and transactions between companies, as well as the corporate process that support the commerce within individual firms. Zwass (1996):
Types of E-commerce:
Electronic Commerce and its activities have been classified into the following types (Turban & King, 2012):
Business to Business (B2B):

* It is the exchange of products, services and information between businesses. ( Eg : Ford purchases tires from another manufacturer).

Business-to-consumers (B2C):

* A transaction between a company and a consumer where goods or services are to the consumers. (Eg: Target). Consumers to businesses (C2B):

* In this case consumers make known a particular need for a product or service, and organizations compete to provide the product or service to consumers.

Consumer-to-consumer (C2C):

* In this case an individual sells products or services to other individuals. (Eg: Online Ads or Classifieds).

Business to Employees (B2E):

* In this case an organization uses E-Commerce internally to improve its operations and benefit their employees.

Advantages 1. Delivers relevant and detailed information in seconds to the customer. 2. Helps small business compete against large companies. 3. Since e-commerce processes are automated to a large extent fewer employees are required for lower-end jobs (Niranjana, Kavyashree, Jagannath & Chahar, 2013): 4. Gives consumers more choices than they could easily locate otherwise.

Disadvantages 1. Inability to experience the product before purchase. 2. Businesses run the risk of phishing attacks and other forms of security fraud (Niranjana,

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