Electronic Commerce-framework, Technologies and Applications

Abstract

In the emerging global economy, e-commerce and e-business have increasingly become a necessary component of business strategy' and a
strong catalyst for economic development. The adoption of electronic commerce and e business technologies is bringing about a major transformation in the way firms conduct business. The integration of information and communication technology (ICT) in business has revolutionaries relationships within organizations and those between organizations and individuals. Specifically, the use of ICT in business has enhanced productivity , encouraged greater customer participation and
enabled mass customization besides reducing costs. E-commerce and Internet have created new ways in which business can connect to their customers, suppliers, partners and investors. The Internet open architecture allows new relationships, channels and ways of doing business among manufacturers, distributors, service-providers and end -users. These relationships are joining to challenge the traditional distribution structure that dominated 20th century' commerce and trade, sometimes with great success and sometimes with no success. Equally important, information developed by business engaged in e-commerce is becoming as pertinent as the products being sold, and in many cases information has become the product.