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Research Article Open Access

Role of E-Commerce in 21st Century


Technological breakthrough in such areas as fax machines, telephone, video player, audio devices and televisions took many years to commercialize and measure their impacts on business. Compared to these breakthroughs, telecommunications, information communication technology, miniaturization, computers and Internet went through shorter product life styles and achieved widespread diffusion and reformed the nature of business operation and enhanced competitive business environment instantly. This technological advancement has resulted in evolution and innovation of many products, services and business processes. One of them is the emergence of e-commerce or electronic commerce. The Internet has resulted in the emergence of virtual markets with four primary distinctive characteristics, which are real time, shared, open and global. The application of Internet is divided in to three major activities that are publishing corporate information, conducting electronic commerce and business transformation. The greatest feature of the Internet is the absence of intermediaries; the manufacturers are able to sell their product relatively easier to buyers via Internet. E-commerce today is no longer technological issue, but is also a business issue. E-commerce involves a number of forms, varying level of cost and complexity, depending on business need. For the past few years, across a globe, e-commerce has improved significantly, but some issues remain elusive. The explanatory and conceptual paper presents the ways in which e-commerce give information to the consumers. It further highlights some critical issues in e-commerce, suggestion and future strategies for e-commerce in years to come.


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