Electronic business (e business) is the use of internet-based information and communication technologies (ICTs) to conduct business including sharing information, maintaining relationships and conducting transactions within and between organizations.
However, everybody should realize that information technology has had beneficial results as well as detrimental effects on society and people in each of these areas.
For example, e-business enables more individuals to work at home and to do less travelling for shopping, resulting in less traffic on the roads and lower air pollution.
With e-business, a company are reaching out to customers at greater geographic distances, having a shop 24 hours a day, seven days a week, acquiring a new channel of business an integrated business processes.
The internet combined with an international logistics infrastructure and trade related deregulation, enables companies to produce goods in foreign countries and then distributes them to the global market or to source low cost, high quality parts from foreign countries for incorporation into domestic production.
Information technology has changed the way that most companies do business. It is hard to imagine to an era in which payroll accounting, check processing, airline reservations or stock exchange trades were handle without computer technology.
E-business is considered and an important factor to create competitive advantage for SMEs. It is a proven fact that most SME’s can gain competitive advantage through the use of ICT, as more than 70% consider that ICT helped business in one or more competitive areas.
E business increase bargaining power of buyers. If the bargaining power of buyers is high this means that they can drive prices of the product down. People can buy more and increase their standard of living.
E- business benefit to citizens or businesses such as better quality service, more choice offer, convenience and control and increased ease and reduce costs of compliance.
E-business frequently provides customers with less expensive products and services by allowing them to shop in many places and conduct quick comparisons.
E-business impact on society and business
