In your OWN words, prepare a Microsoft Word report to provide evidence Essay

In your OWN words, prepare a Microsoft Word report to provide evidence of advanced knowledge of a concept taught in one of week - Essay Example But what is the definition of electronic commerce? One definition of electronic commerce states that it is the use of computer networks in business, with the aim of increasing profitability and increasing market share and brand reach (Watson et al. 2008). Another definition of electronic commerce states that it is any form of business transaction done in the internet (Department of Trade and Economic Development – Government of South Australia n.d.). There may be a lot of varying definitions, but most of these definitions boil down to one common theme: the use of the internet in conducting business transactions, as opposed to physical contact in doing business. One of the main reasons why electronic commerce has already been one of the most popular choices for many businesses is because of the fact that electronic commerce has been able to improve organizational efficiency and other logistical problems in conducting business. ... on logistical expenses, especially on marketing their respective products, due to the fact that maintaining a website and investing on search engine optimization services to reach out on prospective customers online is more cost-effective, as compared to physically distributing marketing tools to customers or hiring advertising firms to advertise on tri-media. In this case, lessening such costs will surely increase the profitability of any business. In addition, by using electronic commerce, clients can now have much more convenience in giving feedbacks to the goods and services that they receive, especially through online surveys that online businesses actually uses. This mechanism will surely help businesses in evaluating their own performances and giving much better services to clients. In terms of gaining a larger market share, the best thing about electronic commerce is that it has the ability to reach out to millions of customers worldwide in just a matter of seconds. This woul d be virtually impossible for other businesses who are not engaged in electronic commerce. In addition, it is important to take note that consumers nowadays are more comfortable in looking for goods and services through the internet, given its speed, reliability, and the convenience that it offers to consumers. Also, because electronic commerce relies much on the internet, it would be able to deliver services to clients at a much faster pace than usual. Take note that consumers nowadays can now do their shopping in the comfort of their own homes, and that companies can now provide the specific needs of customers in just a matter of clicks, without bothering them to go physically into the merchandising stores of companies. This will surely make businesses deliver their goods and services