BizAims

Electronic Commerce is a marriage between a rapidly evolving technical environment and an increasingly pervasive set of ideas as to how markets should function. However, markets involve complex interaction between specific business/organizational factors, and general economic, social and political factors. The full economic potential of Electronic Commerce can only be evaluated against a backdrop of rapid change on all of these fronts. There are strong current indications that massive changes have already begun to occur across the entire business spectrum.

There are difficulties in assessing the commercial potential of the Internet. The Internet is the first multifunctional digital information environment that is available to a wide spectrum of users, ranging from large organizations to individuals, and it will likely become a focal point for the convergence of access media and the development of interactive services.

Although growth in the Internet is not the same phenomenon as growth in E-Commerce, ne vistas for Electronic Commerce are continually opening up on the Internet. In particular, the spectacular rates of increase in the numbers of households with Internet access has drawn special attention to prospects for direct sales to individual consumers. Companies are learning to identify the many new consumer communities that are emerging in the Internet environment, and to evaluate their product and service needs. Relatively mature communities have developed already around electronic services in the areas of travel and tourism, road navigation and health.

At this stage in the development of E-Commerce, a many of the aspects of inter-corporate and consumer E-Commerce applications must be evaluated separately in terms of their economic potential. However, developments like the Internet already bringing the consumer and corporate E-Commerce environments steadily together. The workplace (including schools & universities) is the most common source of computer awareness and skills that become transferred to the household.

The significance and growth potential of E-Commerce is linked interactively to the broader socialization of the electronic networking environment, a phenomenon that looks certain to proliferate with each generation. Indeed, evidence for this is already accumulating.tands at a critical juncture. After an exhilarating start-up, further development hinges on bridging the chasm between early adopter and a true mass market. We envision Eco System ad the foundation of that bridge.             

Transaction Management: Electronic networking minimizes impacts of time & distance. The promise of E-Commerce is that transaction costs can be constrained to minimum that is appropriate to each type of transaction. Institutional adjustments and new approaches to organizational and inter-organizational management is required to allow new kinds of market relationships to involve in an electronic market-places.

At another level, there is the need to cope with escalation in the generation of transaction-associated data. Distributing information electronically not only facilitates more efficient storage and retrieval, but also helps ensure that operators of these systems always access the most up-to-date manuals, not only is the amount of transaction-related data increasing, but the awareness of the potential value of this data is increasing also.

Business Efficiency: E-Commerce support advanced design and manufacturing concepts like Just-in-Time, Quick Response, and Concurrent Engineering, all oriented to co-ordination and often integrating various aspects of the production and distribution processes. It facilitates new kind of on-demand marketing concepts throughout a wide range of products.

E-Commerce generates transaction information immediately in the form that permits sophisticated processing and quick distribution and can be used to plan and support changes designed to increase the responsiveness, flexibility, efficiency and accountability of business process. As in E-Commerce use of customer database increases, new security, privacy and legal issues arises. For this purpose business & government co-operation and support is essential.

New Market Development : E-Commerce is used by many firms not only to mere automation, but for creating business opportunities. E-Commerce is now a standard business tool, moving beyond cost saving and strategic objectives altogether. Many highly visible new markets for intangible products are being created around changing patterns of work & leisure-allowing consumers to access such services as banking, insurance and travel reservations directly from their homes and businesses, both in and out of normal business hours. In media, entertainment and communication sector, E-Commerce is the interactive tool widely used to develop world wide customers. Education and Training is an important area where E-Commerce can build up the infrastructure of skills upon which new generations of Electronic services markets will develop.

The view of major firms across the world is that the changes in access media would have to be customer driven. Customers will gravitate to the medium that is easiest, quickest and most convenient to use, and prefer to stay with that medium until it is obvious to them that a different medium is superior. The fast and speedy growth and development of E-Commerce requires government support and encouragement. Development of other networking-based activities-the convergence of different access technologies, ranging from telephone to television is must.

In this global scenario, Internet Commerce stands at a critical juncture. After an exhilarating start-up, further development hinges on bridging the chasm between early adopter and a true mass market. We envision Eco System ad the foundation of that bridge.