The business is ever evolving. As the market sphere increases in size, not only in terms of physical shape but also in terms of reach of customers the business or the market expands its usual meaning. Now, business is not restricted to a land, rather it spreads all over the world where the customers can access the market space with the help of the internet.
This new form of market is the emerging mode of the business, known as E-Business. We will further our discussion on the same topic that is – Emerging mode of Business.
What is E-Business?
Electronic Business Refers to business that is conducted online. The e-business processes include buying and selling goods and services. Through this e-business the model customers are given services, the payments are processed, the production control is managed and all of these are done over the internet, along with the collaboration of the business partners .A range of functions is included in the E-business mode, which includes the development of intranets and extranets. In recent times, e-business has grown in leaps and bounds and has given rise to new requirements of this new business.
Types of E-Business
Business-to-Business (B2B) is the most common type of Business, where transactions occur between two businesses with their goods and services.
Business-to-Consumer (B2C) is the most popular among other e-business models. The transactions occur online.
Business to Business E-Commerce
B2B e-commerce or business-to-business electronic commerce is the sale of goods or services between two or more businesses via the online platform. This is actually used to enhance a company’s sales effort. Sales Representatives manually attending calls from the telephone are digitally replaced by e-mail orders received electronically. This is also effective in reducing the over-all over-head costs.
B2B business means business transactions between two businesses rather than business and customers. In the wholesale lot, the transaction is usually Business to Business while in retail level, the transaction is from a business to an individual consumer. Business to Business is recognised by the fact of the high value of transactions both in terms of goods or services and in terms of money value. While the business to consumer consists of less value than the B2B.
Emerging Modes of Business
We see, the module of a business is ever emerging. Now we have an e-business that caters to the need of online shopping and selling. Not only this, other functions to run a business now are done electronically. This emerging form of business is as useful as it is risky. In seconds purchasing and selling is done, in a matter of a few minutes we can sign into documents and launch our unique product. Also, the cyber-crimes are slowly heightening its pace as well. Frauds and cheats are taking place online. Fraud in e-commerce is a regular news now, hence stricter online securitized mode is to be conducted to transact the business.
Emerging modes of business are e-business or e-commerce that have hit world wide trade. In the upcoming years, figures of this business are expected to be multiplied.