WHAT IS E-COMMERCE
Electronic commerce (EC) is the process of electronically buying and selling goods, product, services and information over the Internet. Such as buying and selling stocks and clothes on the internet.
Other than buying and selling, e-commerce also including electronically communicating, collaborating, and discovering information .For instances, e-learning, e-government, social networks, and much more. It brings big effect on a significant portion of the world, affecting businesses, professions, and people.
HISTORY OF E-COMMERCE
The development of EC applications started in the early 1970s with electronic funds transfer (EFT), which refers to the computer-based systems used to perform financial transactions electronically, funds can be routed electronically from one organization to another. However, the use of these applications was limited to financial institutes, large corporations, and some daring businesses.
Electronic data interchange (EDI) was then developed in the late 1970s to ameliorate the limitation of EFT. EDI used to electronically transfer routine documents that expanded electronic transfers from financial transactions to other types of transaction processing.EDI enlarged the pool of participating company from manufacturers, retailers, services, and others.
An Interorganizational System (IOS) which allows the flow of information to be automated between the organizations .It make better manage buyer-supplier relationships by encompassing the full depths of tasks associated with business processes company-wide, reach a desired supply-chain management system. Besides, it reduce the risk instead increase the competitiveness of the organization.
Since the 1990s onwards, electronic commerce would additionally include enterprise resource planning systems (ERP), data mining and data warehousing.
The term ‘electronic commerce’ was coined in the early 1990s when Internet became commercialized and users began participate in the World Wide Web. EC applications were then rapidly expanded.
EVOLUTION OF E-COMMERCE
A good deal of innovative applications since 1995, ranging from direct online sales to e-learning experiences had been developed. Almost every organization in the world has their web site.
In 1999, the emphasis of e-commerce shifted from Business to consumer (B2C) to Business to business (B2B).
In 2001, from B2B to B2E, e-government and e-learning
In 2005, social networks started to rise and so did l-commerce and wireless applications.
Electronic commerce (EC) is the process of electronically buying and selling goods, product, services and information over the Internet. Such as buying and selling stocks and clothes on the internet.
Other than buying and selling, e-commerce also including electronically communicating, collaborating, and discovering information .For instances, e-learning, e-government, social networks, and much more. It brings big effect on a significant portion of the world, affecting businesses, professions, and people.
HISTORY OF E-COMMERCE
The development of EC applications started in the early 1970s with electronic funds transfer (EFT), which refers to the computer-based systems used to perform financial transactions electronically, funds can be routed electronically from one organization to another. However, the use of these applications was limited to financial institutes, large corporations, and some daring businesses.
Electronic data interchange (EDI) was then developed in the late 1970s to ameliorate the limitation of EFT. EDI used to electronically transfer routine documents that expanded electronic transfers from financial transactions to other types of transaction processing.EDI enlarged the pool of participating company from manufacturers, retailers, services, and others.
An Interorganizational System (IOS) which allows the flow of information to be automated between the organizations .It make better manage buyer-supplier relationships by encompassing the full depths of tasks associated with business processes company-wide, reach a desired supply-chain management system. Besides, it reduce the risk instead increase the competitiveness of the organization.
Since the 1990s onwards, electronic commerce would additionally include enterprise resource planning systems (ERP), data mining and data warehousing.
The term ‘electronic commerce’ was coined in the early 1990s when Internet became commercialized and users began participate in the World Wide Web. EC applications were then rapidly expanded.
EVOLUTION OF E-COMMERCE
A good deal of innovative applications since 1995, ranging from direct online sales to e-learning experiences had been developed. Almost every organization in the world has their web site.
In 1999, the emphasis of e-commerce shifted from Business to consumer (B2C) to Business to business (B2B).
In 2001, from B2B to B2E, e-government and e-learning
In 2005, social networks started to rise and so did l-commerce and wireless applications.
| Year | Event |
|---|---|
| 1984 | EDI, or electronic data interchange, was standardized through ASC X12.It make it became stable and reliable in transferring large amounts of transactions. |
| 1992 | Mosaic web-browser was made available; it was the first ‘point and click’ browser. The Mosaic browser was quickly adapted into a downloadable browser CompuServe offers online retail products to its customers. This gives people the first chance to buy things off their computer. |
| 1994 | Netscape arrived. Providing users a simple browser to surf the Internet and a safe online transaction technology called Secure Sockets Layer, allowed easier access to electronic commerce. |
| 1995 | Two of the biggest names in e-commerce are launched: Amazon.com and eBay.com.  |
| 1998 | DSL, or Digital Subscriber Line,provides fast, always-on Internet service to subscribers across California. This prompts people to spend more time, and money, online. |
| 1999 | Retail spending over the Internet reaches $20 billion, according to Business.com. |
| 2000 | The U.S government extended the moratorium on Internet taxes until at least 2005. |
Today, the largest electronic commerce is Business-to-Business (B2B). Businesses involved in B2B sell their goods to other businesses. Other varieties growing today include Consumer-to-Consumer (C2C) where consumers sell to each other, for example through auction sites. Peer-to-Peer (P2P) is another form of e-commerce that allows users to share resources and files directly.
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