Over the past several years, the internet has become a major source for information and a huge component of the sales and marketing arena. Electronic business, or e-business, is defined as a form or procedure for conducting transactions by allowing consumers to buy products and services using the internet. Thus, providing a new model of business, which sanctions these groups to operate at a high level of efficiency and aggressively participate in the global network economy. However, along with these benefits also comes a negative side to e-business, which includes such things as unreliable service, and most notably, an increased risk for identity theft. In the following paragraphs, examples will be given of types of e-businesses and the impact and effect they have on the global market.
EBay is a prime example of how quickly an e-business can achieve world-wide success. EBay is a website that allows consumers to buy and sell merchandise from online auctions. Its primary appeal stems from its simplicity, as it is incredibly easy to use, both from a buyer and seller’s standpoint. Online auctions can be viewed by anyone in the world, giving consumers an endless possibility of items to bid upon. Sites like EBay and Amazon.com are unique in the fact that their livelihood is contingent upon the internet for success. Since these businesses do not have physical locations for consumers to shop in, they rely primarily on their websites to fuel future growth.
Wal-Mart, the world’s largest discount retail chain, has also jumped on the e-commerce bandwagon. After noting the success of other e-commerce sites, this retail super-giant began offering a vast array of products available ...