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A more complete definition is: E-commerce is the use of electronic communications and digital information processing technology in business transactions to create, transform, and redefine relationships for value creation between or among organizations, and between organizations and individuals.
Is e-commerce the same as e-business? While some use e-commerce and e-business interchangeably, they are distinct concepts. It includes any process that a business organization either a for-profit, governmental or non-profit entity conducts over a computer-mediated network.
A more comprehensive definition of e-business is: Production processes, which include procurement, ordering and replenishment of stocks; processing of payments; electronic links with suppliers; and production control processes, among others; 2.
Internal management processes, which include employee services, training, internal information-sharing, video-conferencing, and recruiting. Electronic applications enhance information flow between production and sales forces to improve sales force productivity. Workgroup communications and electronic publishing of internal business information are likewise made more efficient.
It includes e-commerce and e-business. The framework shows four layers of the Internet economy-the three mentioned above and a fourth called intermediaries see Table 1.
B2B e-commerce is simply defined as e-commerce between companies. This is the type of e-commerce that deals with relationships between and among businesses. The B2B market has two primary components: E-frastructure is the architecture of B2B, primarily consisting of the following: E-markets are simply defined as Web sites where buyers and sellers interact with each other and conduct transactions.
Most B2B applications are in the areas of supplier management especially purchase order processinginventory management i.
Table 2 shows the projected size of B2B e-commerce by region for the years There are three cost areas that are significantly reduced through the conduct of B2B e-commerce. First is the reduction of search costs, as buyers need not go through multiple intermediaries to search for information about suppliers, products and prices as in a traditional supply chain.
In terms of effort, time and money spent, the Internet is a more efficient information channel than its traditional counterpart.
In B2B markets, buyers and sellers are gathered together into a single online trading community, reducing search costs even further. Second is the reduction in the costs of processing transactions e. Third, online processing improves inventory management and logistics. Through B2B e-markets, suppliers are able to interact and transact directly with buyers, thereby eliminating intermediaries and distributors.
However, new forms of intermediaries are emerging. For instance, e-markets themselves can be considered as intermediaries because they come between suppliers and customers in the supply chain. Among the more evident benefits of e-markets is the increase in price transparency.
The gathering of a large number of buyers and sellers in a single e-market reveals market price information and transaction processing to participants. The Internet allows for the publication of information on a single purchase or transaction, making the information readily accessible and available to all members of the e-market.
Increased price transparency has the effect of pulling down price differentials in the market. In this context, buyers are provided much more time to compare prices and make better buying decisions. Moreover, B2B e-markets expand borders for dynamic and negotiated pricing wherein multiple buyers and sellers collectively participate in price-setting and two-way auctions.
In such environments, prices can be set through automatic matching of bids and offers.At the bottom of this page is an infographic Forrester made on Digital Business Check out Nigel’s blog post announcing it. More digital business and transformation topics. Below is a list of some selected resources in relationship with digital business and transformation.
Digital transformation and the CMO: an innovative CIO partnership. IBM Business Partner Fusion Broadband Pty. Ltd. teamed with IBM to migrate its software-defined WAN (SD-WAN) solutions to IBM® Cloud™.
Explore case studies by: As a part of an ongoing digital transformation designed to help grow Wimbledon’s viewership, the AELTC teamed with IBM to continue its evolution for The Championships in. FINDINGS FROM THE DIGITAL BUSINESS GLOBAL EXECUTIVE STUDY AND RESEARCH PROJECT #DIGITALEVOLUTION REPRINT NUMBER Strategy, not Technology, Drives Digital Transformation Becoming a digitally mature enterprise SUMMER RESEARCH REPORT By Gerald C.
Kane, Doug Palmer, Anh Nguyen Phillips, David Kiron and Natasha Buckley In. Case Study: How Samsung's HR Strategy Led to Innovation and Worldwide Growth operations, organizational transformation, performance management and technology. He also has deep expertise in the Consumer Electronics, Semiconductors, Mobile, and Health and Medical Equipment industries.
Kimberly Schultz is a business-driven Human Capital.
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In December , two years after this case was written, the telecommunications industry consolidated further. Verizon Communications acquired MCI/WorldCom and SBC Communications acquired AT&T Corporation, which had been in business since the 19th Century. The acquisition of .