Saturday, October 19, 2019
Significant Impacts of E-commerce in Modern Global Business Essay
Significant Impacts of E-commerce in Modern Global Business - Essay Example E-commerce or electronic commerce is one of the most currently talked about technological development in the business environment. Majority of companies are currently shifting their attention towards e-commerce activities basically due to the various benefits associated with it. In addition, most governments, economic researchers as well as business analysts are currently shifting their focus through application of huge amounts of resources to ensure that e-commerce activities are enhanced through research and innovation. However, research indicates that the application of e-commerce is currently mostly seen in online marketing companies such as e-Bay, Amazon and Google among others (Cohan, 2010). These companies provide a range of services to their clients through international networks and have been associated with tremendous benefits. Research has also indicated that e-commerce is growing on a daily basis since 1994 where the amount of money that was invested in e-commerce was at 240 million dollars. Currently, the figures stand at 7.2 billion dollars.With the integration of electronic technology into majority of CompanyÃ¢â¬â¢s operational procedures, e-commerce has been associated with effective and efficient technology, thus facilitating efficient business processes i.e. reduction of human errors usually associated with it. In addition, economic experts have asserted that the essence of implementing e-commerce has been majorly driven by the fact that it entails reduced costs of operation.