Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Explain how
Expert Solution
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Step 1
E-Business
- E-business can be defined as a business model which allows businesses to conduct the process of buying and selling online, over the internet. Consumers can buy and get the products delivered using this platform.
- E-business is done by laptops, smartphones, or tablets can be thought of as an online equivalent of mail order catalogue purchasing. Nearly any possible good and service is accessible from e-business purchases, including books, music, airline tickets, and financial services.
- It operates in all of the traditional business types/segments. They are:
- Business to Business B2B
- Business to Consumer B2C
- Consumer to Consumer C2C
- Consumer to Business C2B
- E-business may be a replacement for brick-and-mortar stores, although some companies prefer to keep both.
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- One of the lingering impediments to e-business revolves around privacy concerns. Virtually all Web sites collect user data. Internet service providers, for example, can track where users go on the Web and store that information. Search engines keep detailed data on Internet searches by users. Those arguing that additional privacy laws and regulations are needed claim that users never know exactly what information is collected, nor when it is collected. Moreover, there is no means for determining whether Web sites follow their own privacy policies. On the other hand, some say current laws and regulations are adequate because they make it illegal for firms to misrepresent their privacy policies or fail to disclose the type of information collected. Furthermore, there is no evidence that Internet companies are quietly passing on specific customer information to outside parties. Aside from the strictly legal issues, Web privacy raises a number of ethical issues as well. Assume your company…arrow_forwardWhy has the use of social media in business become so common, and what are its benefits?arrow_forwardWhat are some of the advatnages of e-business?arrow_forward
- Explain the meaning of e-business. Explain the fundamental models of e-business. Identify the factors that will affect the future of the Internet, social media, and e-business.arrow_forwardDemonstrate a knowledge of the fundamentals of e-Business. Discuss the role of e-Business in practical business applications. For each of the three classification dimensions along which e-Business scenarios can be classified (parties, objects, and time scopes), provide an original example to illustrate its application and explain how this example relates to the BOAT (Business, Organization, Architecture, Technology) aspect dimension.arrow_forwardIn your own words, describe how social media can help businesses to connect with other businesses and consumers.arrow_forward
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