Some important questions related to E-Commerce

1. Define E-Commerce and its impact on bussiness models .

1. E-commerce or electronic commerce is the trading of goods and services on the internet.
2. It decreases the cost of creating, processing, distributing and retrieving paper based information.
3. E-commerce expands the marketplace to national and international markets .
4. The internet has changed many aspects of our lives including the way we communicate with each other
5. I had made a great impact on society.
6. It can also force smaller bussiness to shut their doors or change to being completely online .
7. It changed the people’s way of spending money.
8. While increasing the speed of delievery e-commerce refers to paperless exchange of business information .

2.Explain the concept of EDI . Write its application.

1. EDI stands for Electronic Data Interchange.
2. EDI is the exchange of business documents between any two trading partners  in a standard machine readable form .
3. Advantage of EDI is it is less costly than traditional systems.
4. It aids in improved customer service and delivery .
5. It reduces error and clerical work .
6. It improves business cycle .
7. Traders use Electronic data Interchange to exchange financial information in electronic form.
8. The electronic information contains purchase orders , invoice , shipping bills etc .
9. By automating paper based transactions organization can save time and eliminate costly errors caused by manual processing.

3. What are the different opportunities and challenges with respect to e commerce ?

1. There are various opporunities related to e-commerce .
2. E-commerce websites like Flipkart,Amazon,Snapdeal, Meesho etc helps smaller business to grow well .
3. During Covid – 19 many consumers were facing financila problemsas there was lockdown and their shops were not opening.
4. So they started growing their business with the help of online platforms like Amazon , Flipkart etc .
5. The transportation cost and other expences are there if you are running a offline business .
6. But wit E-business these costs were saved .
7. But there are some challenges as well like economic challenge or technological challenge.
8. Technology challenge include security concern , bandwith availability , etc.
9. One of the realities of the explosive popularity of e-commerce is that it has also become attractive target for criminals.

4. Explain different e-commerce models.

There are different e-commerce modles like :

1. B2B :  B2B is the busienss to business model . In a B2B business model a business sells its product or service to another business.B2B transactions generally have a longer sale cycle.
2. B2C : B2C is the business to consumer model . This sells their product directly to the end-user . Anything you buy from an online store is a part of business to consumer transaction .
3. B2G : B2G is the business to government model . This is an e-commerce model where a business sells and markets its products to government entities or public administration .
4. C2B : C2B is the consumer to business model . In this e-commerce model a site might enable customers to post the work they want to completed and have business bid for the opportunity.

5. Expain different E-commerce applications .

Different e-commerce applications are :

1. Retail : E-Retailing often known as online retailing is the sales of products and services by business to consumers via online stores. This is done via virtual shopping carts.
2. Accounting : Finance and e-commerce are more intertwined than before . Banks and stock exchanges make extensive use of e-commerce in their operations . Balance Cheques, bill payments ,and more services are available through online banking .
3. Production : In the manufacturing industry e-commerce serves as a platform for firms to conduct electronic transactions.
4. Trade : Applying e -commerce to trade elevates it to a higher level allowing individuals to participate without regard for geographical borders .
5. Advertising : Development and commercialization stratigies like pricing , product characterization, an customer relationship can be boosted by utilizing e-commerce .

Also read :- https://blog.zarsco.com/edi-electronic-data-intercharge/

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