E-business is a term used for the process of doing business electronically, i.e. through the Internet. Many people mistake it with e-commerce though e-business has wider scope than e-commerce. The latter describes only B2B transactions. In an e-business, partnership implies coupling and building virtual enterprise. The term e-business a new concept that has emerged only after business through Internet came in practice. E-business has changed the trade scenario with lots of additional facilities and by decreasing the communication gap. It is a process that is completely information based and powered with web-based technologies.
Through e-business, working with partners and clients has become very efficient. This method enables the companies to link their sales and purchase (of products and services) with more flexibility towards greater satisfaction of the customers. Online business can be conducted over the public internet and internal intranets. You can also go ahead with e-commerce over private extranets.
E-business mainly involves the processes of distributing, buying, selling, marketing and servicing of the products and services over Internet or over other electronic systems. Internet business is aimed at commercial transactions like; electronic fund transfer, online marketing, supply chain management and automated data-collection.
E-business is more than e-commerce as it covers all the business processes within the whole value chain. This value chain involves electronic purchasing, supply chain management, processing orders electronically, customer service and co-operation with business partners. Exchange of data and other relevant information is amongst the major functions of e-business.
Internet business offers a great opportunity of personal income through your own business. The set-up cost is very low as compared to the other businesses. You just need to have a well connected (with internet and other equipments) computer at home. To begin business, you have to buy a ‘domain name’ and web hosting service. You can act as a re-seller through internet business. You have to connect with the customers and take their demands. Then you have to go through the dealers and order on the customers behalf. You will earn commission from both sides on every sale.
E-business is not a kind of business that has the potential make you rich overnight. You have to show discipline and put hard work in order to establish yourself and let your online business grow. It is an excellent medium to earn extra cash, but remember that it needs your regular attention. You can deal in any product or services that suit your interest or generate more profit.
The whole process of electronic business is divided into three categories.
1. Internal business system: It includes costumer relationship management, enterprise knowledge, workflow, document and human resource management.
2. Enterprise communication and collaboration: This category includes the areas like content management system, e-mail, voice mail, discussion forums, and chat system and data conferencing.
3. Electronic commerce: This is the last of the categories that include electronic funds transfer, online marketing, e-marketing, music downloads and online transaction processing.
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