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Our Target is to help out in the journey of your CS Preparation. Today we have brought an important article related to “Business Management and Law , an important part of CS Foundation. While preparing for CS Preparation, you must have studied in details about Business Management and Law. In this blog we will discuss about “E-Commerce”.
CS Foundation : E-Commerce
What is E-Commerce (Electronic Commerce)?
A Brief Introduction
This is what we deal with in our lives on a daily basis. It is not limited to what we think, but it’s a wider concept which has actually made our life easy.
E-Commerce is not only limited to buying and selling of the Goods but, it also means theexchange of information and selling of services.
In other words, E-Commerce means transacting or facilitating business on the Internet.
Examples of E-Commerce:
Internet Banking, Online Ticketing, Electronic payments, Subscription of online books, Placement services etc.
Classification of E-Commerce on the basis of the participants in the business:
- Business to Business (B2B): In this, both the transacting parties are businesses. Eg: Manufacturers, Traders, retailers etc.
- Business to Consumer (B2C): Business selling goods to a consumer is the best example to understand this.
- Consumer to Business (C2B): Business buying from Consumer. It’s a new concept in the market and is actually being loved by the people. Eg: Elanic
- Consumer to Consumer (C2C): Consumer selling to another consumer. Eg: OLX, Elanic etc.
Watch recorded lectures by our experts on E-Commerce for CS Foundation online classes.
Benefits of E-Commerce:
- Around the clock availability.
- Easy access.
- Saves time and effort.
- Wide availability.
- Various options to choose from.
- Reduces Cost.
- Convenient to the Consumer.
- Quick delivery.
Disadvantages of E-Commerce:
- Limited Consumer service.
- High Risk as a customer can’t see or touch the product before purchase.
- High Cost of Employee Training & Maintenance.
- Security Issues as online servers sometimes get hacked.
For more notes on Business Management, Business Ethics and Business Economics .
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