write a note on e - business and limitation to e - business
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E-BUSINESS
E-business stands for electronic business. Electronic business is also known as online business. Online business is a business where the transaction takes place online. Here, the buyer and the seller don’t meet personally. The term “e-business” was coined by IBM’s marketing and Internet team in 1996. E-business is a part of e-commerce. E-commerce means electronic commerce.
Limitations of e-Business
But it isn’t all good news. E-business does have certain disadvantages when compared to the traditional way of doing business. Some of the limitations of e-business are as follows :
Lack of Personal Touch: E-business lacks the personal touch. One cannot touch or feel the product. So it is difficult for the consumers to check the quality of a product. Also, the human touch is missing as well. In the traditional model, we have contact with the salesperson. This lends it a touch of humanity and credibility. It also builds trust with the customer. An e-Business model will always miss out on such attributes.
Delivery Time: The delivery of the products takes time. In traditional business, you get the product as soon as you buy it. But that doesn’t happen in online business. This lag time often discourages customers. However, e-businesses are trying to resolve such issues by promising very limited delivery times. For example, Amazon now assures one-day delivery. This is an improvement but does not resolve the issue completely
Security Issues: There are a lot of people who scam through online business. Also, it is easier for hackers to get your financial details. It has a few security and integrity issues. This also causes distrust among potential customers.
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