Importance Of E-Commerce
(Muhammad Areeb, karachi)
It refers to all such
activities which are necessary for bringing goods from place of production to
their place of consumption. According to Evelyn Thomas “Commercial operations
deals with the buying and selling of goods, the exchange of commodities and the
contribution of finished goods”.
Today commerce include a complex system of companies that try to maximize their
profits by offering product and services to the market which consist both of
individuals and other companies at the lowest at the lowest production cost.
There exist a major part of commerce has changed towards E-Commerce.
When the power of E-Commerce was unlashed for the benefit of the society the
evolution of the business world started. Business uses electronic data
interchange (EDI) to reduce cost increase the speed and increase accuracy of
business documentation. When doing business with other companies consumers were
no longer tied to local store or mail categories for retail purchase. E-Commerce
became a new retail outlet in the late 1990’s. Educational institutions for
their past responded by initiating E-Commerce education has matured. It has
transformed from scatted course and is now manifested in under graduate degree
programs.
E-Commerce in its broadcast definition is the exchange of foods, services, or
transaction via electronic means. Most people consider electronic means to be
tele-communication based task. E-Commerce was started with the use of electronic
data interchange (EDI) although the exact start of EDI is unknown. It is thought
sometimes in the late 1960’s. Different standards and expensive computers made
it difficult for most companies to particular in E-Commerce in 1970’s and early
1980’s. 1984 was a banned year for commerce with the development of X.12
protocol, which standardize EDI and provide a consist basis for the reliable
exchange of business document related to buying and selling of goods and
services in the mid 1990’s E- commerce was extended the consumer with dramatic
results. First was the dot.com explosion of companies that wanted to be a part
of a scene followed by dot.bomb collapse of many of the E-Commerce companies.
E-Commerce continuous to grow rapidly mainly because of the permeation of the
internet mid homes and offices world wide.