Discuss E-business and its import on economic development.
Answers
E-Commerce is a business issue rather than a technology issue. It involves a number of forms, varying level of cost and complexity, depending on business need. It can also improve the operations through greater use of electronic book-keeping and records management. Supplies received through internet placement reduces the storage cost, space and serves its customers faster and more effectively. On line banking services such as electronic bill payment, funds transfer and payroll management improves the efficiency of the business. These services are offered by most of the financial institutions. E-Commerce is not confined to business alone but also includes media sector also such as telephone, television and electronic payments. The greatest feature of the internet is the absence of intermediaries, the manufacturers are able to sell their products relatively easily to buyers via the internet. With this background, the present paper discusses the ways in which e-commerce give information to the consumers. The paper further highlights some suggestions and future strategies for e-commerce in years to come