explain the meaning of internet what is the advantages of e business
Answers
Explanation:
1. Removes location and availability restrictions. The internet reaches across the world and spans all time zones. That means that when businesses take their operations online, they have the same capabilities. With a physical store, customers are limited by how close the store is and its hours of operation.
Explanation:
Online Business or e-business is 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, while e-business refers to business with help of the internet.
Advantages
*Easy to set up: electronic business is easy to set up even from home, the only requirements are software, a device and internet connection.
*Flexible Business Hours: There are no time barriers that a location-based business can encounter since the internet is available to everyone all the time. Your products and services can be accessed by everyone with an internet connection.
*Cheaper than Traditional Business: Electronic business is less costly than a traditional business, but it is more expensive to set up. Transactions cost are also cheaper.
*No Geographical Boundaries: The greatest benefit is the possibility of geographically dispersion. Anyone can order anything from anywhere at any time.
*Government Subsidies: Digitalisation is very encouraged by the government and they provide necessary support.
*New market entry: It has a great potential to enable an entry to a previously unknown market that a traditional business could not.[17][18]
*Lower levels of inventory: Electronic business enables companies to lower their level of inventory by digitalizing their assets. (i.e.: Netflix does not sell anymore physical DVD's but proposes online streaming content instead).
*Lower costs of marketing and sales: E-commerce allows the actors of the industry to advertise for their product/service offer (i.e.: house rental) at generally lower costs than by promoting physically their business.