Week 5 - E-business

Don't you think the internet has advanced so greatly that we can now even do business on the internet! This wonderful phenomenon is known as E-business.

Ebusiness is a term used to describe businesses that run on the Internet,or utilizing Internet technologies to improve the productivity or profitability of a business. In most contexts ebusiness refers exclusively to Internet businesses.
There are many advantages as to running a business using the internet.By selling products and services online, an ebusiness is able to reach a much wider consumer base than any traditional brick-and-mortar store could ever hope for. This function of ebusiness is referred to as ecommerce, and the terms are occasionally used interchangeably.

There is also another term which is closely related to business on the internet. And that term is known as "eprocurement". An ebusiness may also use the Internet to acquire wholesale products or supplies for in-house production. This facet of ebusiness is sometimes referred to as eprocurement, and may offer businesses the opportunity to cut their costs dramatically. Even many ebusinesses which operate without an electronic storefront now use eprocurement as a way to better track and manage their purchasing.

I feel that e-business is a lot more faster and efficient and it reaches a wider range of consumers. All information that you need and want to know about the product is available to you in seconds. For example, on Facebook itself we can find many people running their business there selling things like clothings and accessories. So what happens here is that usually when you are interested in a particular product which you see on their Facebook page, you just need to comment on it and the person would send you a personal message giving you the details and the price. All you need to do is confirm the order, transfer the money and the product gets delivered to you within a few days.

How fast is that? It makes shopping a lot more easier because you can do it while you're on the net surfing, or doing some research paper that is due in time to come. In fact, i have quite a lot of friends who have opened businesses on the internet selling clothings, accessories and nail polish. And when i ask them, many have had positive comments about their E-business. They do mention that they make quite a great amount of profit as their business is exposed to a wider range of consumers and this makes their business a lot more profitable and efficient.

So what are you waiting for?

Go think of a business to do and get it running on the net!

You can be richer than you currently are within seconds!