a brief history of e-commrce
E-commerce includes any business transacted electronically,whether the transation occurs between two business and its customers. Electronic data interchange which has to-date been implemented almost exclusively by larger business that could afford the necessaryinitial investment,is reaching smallerorganization as transaxtions occur morre frequntly over the internet. Companies are positing electronic storefrontson the World Wide Web and garnering worldwide customers.Theres online businesses may represent a new sales channel for the compny or may be completey virtualized , holding no inventory. IF information, entertainment or digital products such assoftware are sold ovr the Web, the entire busine process-from prospecting to order procssing to delivery -can occur online.
E-commerce aplicatons started in the early 1970s, with such innovation as lectronilcfun tranfrs.However, the extent of the aplicatiowas limited to large coporrtions,financial institutions, and afew daring mall busineses.then came EDI, which expanded from financial transactions to other transacton procssing and enlargd the participating companies from financilinstitutions to manufacturers, reailers srvices,and s on.M any other applications followed,ranging from stock trading totravel reservation systerms. Such systerms wre described as telecommunication applications nd thir stratedic vluee was widelyrecognized. with the commercializationof the Internet in early 1990s and its rapid growth to milions of potential customers, the term electronic commerce was coined, and EC applications expanded apidly. one reason for the rapid expansionof the technology was the developmentof networks,protocols,software,and secifications.The other reason was the increase in competition and other business presure. From 1995 to 2000, we have witnessed many innovative applications ranging from advertisement to auctionsand virtual rality experience. Almost every medium and large-sizedorganization in the United...
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