E Commerce and Chief Legal Issues
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Added on 2020-04-15
E Commerce and Chief Legal Issues
Added on 2020-04-15
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Running head: E-COMMERCEE-commerce and Chief Legal Issues Involved in E-commerceName of the Student:Name of the University:Author note:
1E-COMMERCEIntroductionStrauss (2016) defines E-commerce as the process of purchasing or selling of goods andservices on an electronic network. It also involves the transfer of funds or data. The transactionscan be either business to business (B2B), business to consumer (B2C), consumer to consumer(C2C) or consumer to business (C2B). E-commerce is often called E-business (Laudon andTraver 2013). The concept of E-commerce came into existence in the 1960s. Many companies atthat time used Electronic Data Interchange for sharing their business documents. AmericanNational Standards Institute in the year 1979 developed ASC X12, which is the universalstandard for business for sharing documents electronically with other companies. By 1980s and1990s the users of sharing electronic documents increased. E-commerce businesses includes,online shopping websites, online market places, business to business electronic data exchange,pretail to launch new products or services and online fund transfer (Turban et al. 2015).Scope of E-commerceElectronic data interchange, e-mail, online shopping, electronic banking or funds transfer,outsourced customer and employee care operations. It creates interdependencies between thevalue chain of the company and those of customers and suppliers. Companies create competitiveadvantage by optimization and re-engineering the value chain links to the outside. Characteristics of the Electronic commerce The tools of e-commerce are electronic but its application is commercialCommerce focuses on those with whom the business is being conductedCommerce refers to the act of doing business and not reporting or sending messages(Brown and Dant 2014)
2E-COMMERCEInformation are exchanged and processed with the help of communication network,computers and E-commerce software. Much of the transactions are processed automatically.Strauss (2016) highlights that it carries out many support services of business like inter-organizational e-mail, custom built goods and services, trading support systems for commodities,products, customized products, on-line directories, ordering and logistics management, statisticaloperations and reporting. Capabilities needed for e-commerceIt helps the buyers to:Seek information about the productsReview the products and service informationPlacing orders and makes paymentsGet products and services onlineIt helps the sellers toAdvertise and promote their productsGet ordersCollect payments of transactionsDeliver goods and services electronicallyProvides customer assistanceIt helps the financial organizations to act as server as intermediates that accept paymentauthorizationIt helps the sellers to give notification to the logistics organization (Niranjanamurthy etal. 2013)
3E-COMMERCEAdvantages of E-commerceThere are many advantages of E-commerce. It reduces the cost of the buyers because ofthe increased competition and convenience of shopping. With the help of online auction, itreduces the costs of suppliers. It reduces the time, errors, overhead costs and informationprocessing. It reduces inventories and warehousing. It increases accessibility to real timeinventory information and speeds up the time consumed for ordering and purchasing (Brown andDant 2014). It makes easier for the companies to make an entry in the market in an efficientmanner. It helps in creating new markets and get new target customers. It helps in automation ofbusiness processing. E-commerce helps in document transfer, which is cost effective. The timeconsumed for completion of business transactions is reduced. It reduces the business overheadsand improves business management. It has some marketing benefits that include, marketanalysis, customer analysis and product analysis (Okamoto 2015). The cost for advertising in e-commerce is very low. It is very easy to create and maintain a customer base. The benefits ofcustomers through e-commerce include, information dissemination in large scale. It helps thecustomers to choose from a wide range of products at reasonable price. The interpersonalcommunications and information access is fast. It saves the time and money of the customers.The service and delivery is fast hence improves the customer experience. Legal issuesThere are some legal issues of E-commerce. Like any other industry, online and offline,E-commerce also faces some legal issues that are quite significant. Since, e-commerce involvesshopping on the internet, majority of people have no idea about what is happening in thebackground. The shopping is generally very easy. The entire process of shopping is apparentlyvery simple, however, it involves a heavy deal of hurdles to make the thing successful.
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