Describe briefly any two applications of e business
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Electronic Business or e-business is a term which can be used for any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be seen as one of the essential activities of any business. Electronic commerce focuses on the use of ICT to enable the external activities and relationships of the business with individuals, groups and other businesses or e business refers to business with help of internet i.e. doing business with the help of internet network.The term "e-business" was coined by IBM's marketing and Internet team in 1996.
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The two application of e-business are as follows :-
- e-procurement: With the introduction of e-business interface the interaction between business firm takes place through the internet. The digital market place mot only facilitates online trading between multiple buyers and sellers, but also provides scope for 'reverse auctions' (where sellers complete to obtain business).
- e-trading: The stock exchange have witnessed phenomenal growth with the automation of stock exchanges. e-trading refers to the process of online trading refers to the process of online buying and selling of securities.
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