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Business has evolved over the ages, gone were the days of brick-and-mortars where the customer happens to see the seller and buying & selling takes place by transaction of cash or kind. Technology has evolved by the day and e-Business has made the science of selling into its simplicity where the buyer does not see the seller and the market is global.
"e-Business" short form of Electronic Business utilizes information and communication technologies to churn out the business, enabling quick turnaround with more efficiency and flexibility which happens through internet, intranet, extranet or combination of these under secured and safe environment. With the security built into today's browsers and with digital certificates now available for individuals and companies much of the early concern about the security of online business transactions have disappeared and e-business by whatever name is accelerating.
Much of the transacted products happen to be computer related equipments and software.Let us see what are the advantages and constraints involved in such a business.
Advantages:
Buyers shop at the convenience of their home.
Costs of setting up one is very low.
Wide presence on the web.
International customer access.
24/7 services.
Quick response
Lower overhead
Work from home
Constraints:
No visibility of what is happening.
No physical interaction results in lack of trust on the distant customer.
Need for maintaining the sites round the clock.
Late nights and long hours.
Seller every time meddles on his business which intrudes into his/her family privacy.
Although there are benefits and constraints involved, if used properly e-business rakes up huge benefits to the mankind.
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