ICT is advancing quickly in the world we live in right now. The Internet has turned indispensable for everything from banking to education to online shopping. In both society and business, digital technologies have revolutionized how we interact and learn. With the click of a mouse, we may now complete any task while seated anywhere in the globe. Things have gotten cheaper, more accessible, and more transparent, especially in online business. The growth of small and online enterprises results from the development of e-commerce.
These two terms, e-business and e-commerce, sometimes cause confusion in the minds of people. But the two names differ significantly from one another. The terms “e-business” and “e-commerce” are sometimes used interchangeably, but they don’t mean the same thing; to put it plainly, e-commerce means buying and selling online, whereas e-business refers to all business conducted online. You might think of e-commerce as a part of e-business. You should attempt to comprehend how these two notions differ if you intend to launch or collaborate closely with a web-based company.
The meaning of e-commerce
The term “e-commerce” is an acronym for electronic commerce. E-commerce is used to describe the process of ordering, transacting, buying, selling, and paying for products and services online. The vendor and the buyer can converse in this kind of online business transaction without ever meeting in person.
Online banking, shopping, purchasing tickets online, social networking, and other online activities are a few instances of how e-commerce is used in the real world.
A website is a fundamental necessity for e-commerce. With the use of the Internet, advertising, marketing, selling, and transactional activities are carried out. E-commerce refers to any financial transaction carried out via the use of electronic means. The several sorts of e-commerce are as follows:
- B2B – The term “business-to-business” refers to the exchange of products and services between companies. Oracle, Alibaba, and Qualcomm are some examples.
- B2C – The method through which a firm sells its products to a client. For instance, Intel, Dell, etc.
- C2C – Customer-to-customer commerce is referred to as C2C. For instance, OLX, Quickr, etc.
- C2B – Commercial transactions between customers and businesses are referred to as C2B.
The meaning of e-business
The online presence of a firm is known as electronic business or e-business. It may also be called the type of business that uses the Internet, electronic data exchange, or e-business. However, e-commerce is one of the vital elements of e-business but is not a necessary component.
E-business is not limited to just the purchase and sale of goods; it also includes other business-related activities like offering customers services, interacting with staff members, and allowing customers or business partners to get in touch with the company with questions or complaints about the services, among other things. Electronic media are used for all essential business procedures. There are two categories of e-business, namely:
- Pure-Play: An organization with just an online presence. Like Hotels.com
- Brick and Click: A business strategy where a company operates in both an online or electronic and an offline or physical form.
Differences between e-business and e-commerce
Regarding the distinction between e-business and e-commerce, the following points are crucial:
- E-commerce refers to buying and selling products and services via the Internet, unlike e-business, which involves a business having an online presence and doing all its commercial operations through the Internet.
- While e-business involves business-to-business (B2B) and business-to-consumer (B2C) transactions, e-commerce is typically linked with consumer-facing commerce.
- E-business can involve a number of digital tools and platforms for conducting business online, whereas e-commerce generally concerns the usage of online shopping carts and payment systems.
- While financial transactions are a part of e-commerce, e-business comprises both financial and non-financial activities.
- E-commerce focuses on the exchange of money for products or services. On the other hand, E-business offers a broader range of applications, including managing and improving company procedures.
- E-commerce uses an extroverted strategy that includes distributors, suppliers, and customers. E-business, on the other hand, takes an ambivert strategy that addresses both internal and external operations.
- E-commerce needs a website that can serve as a representative of the company. On the other hand, running an online firm involves an enterprise resource planning system, a website, and customer relationship management.
- E-commerce defines the selling and purchasing of products and services online through a platform or shop. E-business also refers to the use of digital technology to enhance a company’s overall operations.
- E-commerce connects to the rest of the world via the Internet. Unlike e-business, communicating with the parties is done via the Internet, intranet, and extranet.
Conclusion
E-business is mainly comprised of e-commerce. E-commerce websites are also considered to be e-business, albeit this is not always the case. Both the former and the latter are just internet extensions of traditional business. Currently, the majority of businesses only do online transactions to take full advantage of the market. Since a few years ago, specific e-commerce sites have appeared that are eroding the market share of established traditional commercial enterprises like Flipkart, Amazon, eBay, etc.
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