E commerce
The purpose of this assignment is to “demonstrate an understanding of information systems, define and display how information technology may be used strategically in organizations.” The following discussion specifically focuses on the electronic business of E-Commerce and identifies how this industry uses information technology to compete, provide goods/services and offer innovative trends within the consumer market place. Characterizing Commerce Commerce is generally defined as “a division of trade or production which deals with the exchange of good and services from a producer to the consumer.” It also encompasses the “trading of information and funds or other entities” that maintain economic value. Characterizing E-Commerce E-Commerce is commonly referred to as “electronic marketing.” It consists of buying, selling or the exchange of goods and services over an electronic medium such as the internet or other computer based networks where a transaction or “terms of sale” are performed electronically. E-Commerce Popularity Since the advent of the internet and the potential uses information technology brought to the business environment, nearly all main stream commerce related industries discovered an opportunity to establish a presence in the electronic marketing environment due to the low entry cost and reductions in transaction expenses that provided increasing access to a “global” market place, which could also maintain and secure a “market” share amongst the rising competition. History of E-Commerce In 1979, Michael Aldrich, an English entrepreneur, invented online shopping. Using technologies such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) companies could share and exchange business information and transactions with each other. Invoices and purchase orders could be delivered