The Introduction To Ecommerce Information Technology Essay

The Introduction To E mer guttertile system instruction Technology EssayIn the 19th degree centigrade commerce was affected by the development of rail system which lessen the bell of shipping and let seller sell his reapings around the plain rather than in one region and helped the country to develop a national system of trade. It withal led the creation of national everyday newspaper, weekend holi geezerhood and improved the nations health by making perishable faithfuls such(prenominal) as fresh fish and fruits more(prenominal) widely getable.The process reiterate this epoch electronic commerce affected the commerce by bare-assed the cost of transportation of information, and by letting the seller to introduce his products cosmopolitan rather than nationwide by the later part of Twentieth carbon1.In the early 60s and 70s when mankind was trying to find and develop fast-flying performer to travel and communication, the vocation developers introduced electronic comm erce (E-com) for the business efficacy. However, the engage was limited to only business to business (B2B) transitions which were electronic data interchange( EDI) and electronic funds transfer (EFT). By late 1991 when internet became widely available for commercial purposes, consumers also realized the usefulness of E-commerce and so started taking advantages of E-commerce. As a result, today thousands of businesses constitute been taken to websites.E-commerce is called as New saving for modern world which is created by using digital technology changing our societies drastically in terms of business transactions, operate, transfer of information and online deceiveping. As Kevin Kelly describes2Its global it favors intangible things- ideas, information, and relationships. And it is intensely interlinked. These attributes produce a new eccentric soulfulness of crossinget step ups and society, one that is rooted in ubiquitous electronic networks3If simply outlined, E-commer ce is approximately exchange of digitized information among parties4which can be ordering of goods and run as well the control of their flow, making contracts and sharing information now from one part of the world to an some other and this can be held amongst consumer to consumer, business to consumer and business to business.These days people relate internet with e-commerce which is a wrong perception It is the most usually apply performer these days but according to the World Trade Organization,5E-commerce can be used by using telephone, the fax, the television, electronic payment and money transfer system, selective information interchange and the internet.6Considering the above statement, any transaction, any order of goods and requesting of services by using any of the above six instruments falls under the means of E-commerce.thither is no precise definition of e-commerce as it changes according to its evolving role. At the beginning of the new millennium in 2002, anothe r definition came which defined it as any business transaction concerning goods and services, where participants are not in equivalent physical location and communicate though electronic means7Hence these days, E- commercialism Is a business term used for sell and purchasing goods and services oer internet and other electronic means between B2B, B2C and C2C.Beneficiaries Of E-commerceThere are three classes of society of those who are taking benefits as doing their business electronically (i) railway line to Business (B2B), (ii) Business to Consumer (B2C), and (iii) Consumer to consumer (C2C).Business to Business .B2B electronic commerce over internet is increasingly becoming the popular choice of communication for the business as its instantaneous.8B2B e-commerce is whereby twain parties conduct transactions in the course of business, also known as paperless trading particularly in the US9. For instance suppose a motor producer needs to purchase parts from supplier, this can be done each via netmail or by EDI (electronic Data Interchange system).Business to ConsumerThis is the compositors case of dealings in which one party is doing their business by selling goods over website or by advertisement where they are directly dealing with consumers, such as sales person dealing with customer in high street, example of this kind of dealings are discloseping on website such as www.amazon.co.uk or www.sony.co.uk.Consumer to ConsumerIn this kind of dealing both parties are natural persons and do not operate any business. The good example of C2C is consumer selling goods to another consumer through a website or both(prenominal) consumer advertising over a website for example www.ebay.co.uk.Scope of LawThere is no single or specific law for e-commerce as Kevin Kelly describes10as its of global nature, electronic commerce has propensity to break the national barriers more easily rather than traditional cross-border trade.11Hence the user can each use a websi te for making a purchase or e-mail an offer from any jurisdiction and acceptance can take place from other jurisdiction due to this global nature that website might be subject to law of that country.12The issue of Electronic contracts was 1st considered at the transnational level in 1996 by United Nation Commission on International Trade Law (UNCITRAL) by introducing the Model law on Electronic medico and the Model law on Electronic Signature.In United Kingdom Electronic Commerce proceeding 2000, Electronic Commerce Regulations 2002 was introduced to provide basic legal frame work for electronic commerce and to deal with its problems in a country, and Electronic Signature Regulation 2002.The law of Acts was the result of European Union Directive 2000/31/EC, which was introduced to provide rudimentary structure for electronic commerce in national markets, to remove cross-border barriers for online services within the member states, and to provide legal certainty to the services. Felling the heat of Electronic Commerce problems, United States of America also enacted the legislations specifically dealing with Electronic commerce. These were (i) Uniform Electronic Transaction Act 1999 (UETA), (ii) Uniform Computer Information Transaction Act Amended 2000,2000(UCITA) and Electronic Signatures in Global and case Commerce Act 2000.13Same way different Asian countries also introduced special legislation to cope with E-commerce. Examples are Singapores Electronic Transaction Act 1998, Indias Information Technology Act 2000, Hong Kong Electronic Transactions ordinance 2000, Philippines Electronic Commerce Act 200014and ElectronicTransactions Ordinance 2002.Advantages of Electronic CommerceWith Respect to Virtual ShopAs discussed above, e-commerce affected the commerce by reducing the cost of trade, especially in selling and buying.In 1995 eminence render stated in his book regarding shopping thatThe net provide carry us into a new world of low-friction, low -ove rhead capitalism, in which market information will be plentiful and transaction cost low it will be a shoppers heaven15Bill Gates words have already been proved. Shopping over internet has break down the new and the most popular market for the customers.Due to low cost, sellers dont have to buy or rent the costly articles from a shop in high street. Instead they just need to get space over internet at a very low price as compared to high street shops. Furthermore, there isnt any need to hire employees as a seller himself can update or monitor the website. Lastly, he doesnt have to pay any utilities.All these advantages raise the margin of derive with an added benefit which is that the seller can attract customers by offering his product at a lesser price than high street shop price.Another advantage of a Virtual shop is that it is open for business 24 hours a day 7 days a week. Customers can even shop on the day of Christmas or any other holiday. Also, a virtual shop can cater not only to local customers but to anyone in the world who has an internet connection.Virtual shop is as profitable for the seller as it is for the buyer. When you shop online you save time, gasoline and you can shop at any time even after business hours.With respect to E-mail20th March 2002 was the land mark day in the history of E-mail and postal mail in United Kingdom. By then it was proved that majority of people devote and are interested in e-mail rather than traditional postal mail.16The reasons are that it is cheap, fast and accurate. The biggest advantage is that it is private as only that person who knows the password can access it. Another great thing is that the same message can be sent to many recipients at the time within the same duration.