Define And Explain The Meaning Of E-Business Acquire Knowled ✓ Solved

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Define And Explain The Meaning Of E Business Acquire Knowledge

The meaning of e-Business.

Acquire knowledge and understanding of the history of e-Business and its impact on business.

Evaluate and discuss issues surrounding ethics and security as related to e-Business.

Explain how the rapid development of e-Business is linked to that of the Internet. Use examples to illustrate.

Response should be approximately 2-3 pages (not counting the cover page and references page), supported with credible references and corresponding in-text citations, all in APA format.

Paper For Above Instructions

Introduction

E-business, or electronic business, encompasses a broad spectrum of online commercial activities. It extends beyond merely buying and selling products online; it includes various aspects such as online services, customer relationship management, and supply chain management. Understanding e-business is essential in the digital age as businesses increasingly depend on the Internet to reach their customers and streamline their operations. This paper defines e-business, traces its evolution, assesses its ethical and security issues, and illustrates the links between e-business development and the Internet's growth.

Definition of E-Business

E-business refers to any business process that is conducted online, primarily over the Internet. It includes online sales (B2C), business-to-business transactions (B2B), supply chain management, and electronic processing of transactions. E-business facilitates operations, enhances efficiency, and reduces costs while providing customers the convenience of shopping from their homes. According to Chaffey (2015), the integration of technology in business processes allows for greater flexibility and innovation.

Historical Context and Impact

The history of e-business can be traced back to the late 20th century with the advent of the Internet. One of the pivotal moments was the launch of Amazon in 1994, which revolutionized the retail space by showcasing how traditional businesses could transition to an online platform. This led to a dramatic transformation in various sectors, including retail, telecommunications, and financial services (Laudon & Traver, 2016).

The rise of e-business has significantly impacted commercial activities worldwide. According to Statista (2023), global e-commerce sales reached approximately $4.28 trillion in 2020 and are expected to continue growing. This massive shift has resulted in the creation of new markets and has allowed businesses to reach a global customer base with minimal investment. Moreover, e-business has given rise to entirely new industries, such as digital marketing and online payment solutions.

Ethical and Security Issues in E-Business

While e-business offers numerous advantages, it also poses ethical and security challenges. Cybersecurity threats, data breaches, and privacy concerns are at the forefront of e-business issues today. Organizations may collect sensitive information from customers, which, if mishandled, can lead to serious ramifications for both the businesses and their clients (Turban et al., 2018). Ethical concerns over customer data handling practices have prompted regulations such as the General Data Protection Regulation (GDPR) in Europe, aiming to protect consumer rights and privacy (Culnan & Bies, 2003).

Furthermore, ethical dilemmas arise with deceptive advertising, fraud, and the use of customer data without consent. Companies must navigate these complexities by establishing strong ethical guidelines and security measures to foster customer trust and ensure compliance with laws and regulations (Friedman & Resnick, 2001).

Link Between E-Business and Internet Development

The rapid development of e-business is intrinsically linked to advancements in Internet technology. The Internet serves as the backbone for e-business activities, facilitating communication, transactions, and data sharing. The emergence of broadband technology increased Internet speeds, allowing for more interactive and efficient e-business models, such as streaming services and real-time inventory management systems (Zeng & Glaister, 2015).

Social media evolution has also significantly influenced e-business, creating platforms where businesses interact directly with consumers. For instance, Facebook and Instagram allow companies to market products and services while engaging with their audience (Cox et al., 2016). Additionally, advancements in mobile technology have allowed consumers to shop on-the-go, further propelling e-business growth and versatility.

Conclusion

E-business is a transformative force in the modern business landscape. Its definition encompasses a wide range of online activities that contribute to efficiency, convenience, and a broader reach for businesses. The historical context reveals how the Internet has facilitated this evolution, while ethical and security challenges must be addressed to sustain growth and consumer trust. As technology continues to evolve, so will the opportunities and challenges associated with e-business, making it imperative for organizations to adapt and innovate continually.

References

  • Chaffey, D. (2015). Digital Business and E-Commerce Management. Pearson Education.
  • Cox, J., Burgess, M., & Marzouk, M. (2016). The role of social media in e-business. Journal of Business and Economics Research, 14(3), 121-128.
  • Culnan, M. J., & Bies, R. J. (2003). Managing Privacy: Big Issues and Practical Solutions. Sloan Management Review, 45(3), 70-80.
  • Friedman, A., & Resnick, P. (2001). The social cost of cheap pseudonyms. Journal of the American Society for Information Science and Technology, 52(6), 506-512.
  • Laudon, K. C., & Traver, C. G. (2016). E-commerce: Business, Technology, Society. Pearson Education.
  • Statista. (2023). E-commerce worldwide - Statistics & Facts. Retrieved from https://www.statista.com/topics/871/online-shopping/
  • Turban, E., Lee, J., King, D., & Chung, H. (2018). Electronic Commerce 2018: A Managerial and Social Networks Perspective. Springer.
  • Zeng, D. Z., & Glaister, K. W. (2015). Influence of information and communication technology on e-business success: A comparative study. International Journal of Information Management, 35(3), 1-30.

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