Analysis of e-business models and business process simulation for internet banking
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Abstract
In the new millennium, the single most dominant event which has completely changed the world is the birth of Internet. It has changed the outlook of whole set of industries and markets and has already had a great impact on consumers and is all set to have a very exciting future. It has helped companies improve services, reduce costs, open new channels and transform the competitive landscape. The arrival of internet is revolutionizing the way business is carried out and is having a tremendous impact on all industries- the way they work and how they provide services to the customers. The internet and the technology enabling have helped companies to create an altogether new channel of business, collectively called e-Business. e-Business is primarily any kind of transaction done partly or completely over a network. However, it is not only buying and selling of goods and services over the internet, but also servicing customers, collaborating with business partners so as to create new markets. e-Business has changed the way many companies do business. To them, e-Business is no longer an alternative but an imperative. However, many companies are struggling with the most basic problem of identifying the best approach for establishing and doing business in the digital economy. Some companies are transforming their businesses entirely to the web. Some are establishing subsidiaries, and then spinning them off as separate online business. Others are investing in or merging with online startups. The bottom line is that there is no simple prescription and almost no such thing as an established e-Business model for companies even within the same industry.
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