Electronic business

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e business, or e-business, is the application of information and communication technologies (ICT) in support of all the activities of business. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be seen as one of the essential activities of any business. Electronic commerce focuses on the use of ICT to enable the external activities and relationships of the business with individuals, groups and other businesses or e business refers to business with help of internet i.e. doing business with the help of internet network.[1] The term "e-business" was coined by IBM's marketing and Internet teams in 1996.[2][3]

History[edit]

In 1997, IBM marketing, with its agency Ogilvy & Mather began to use its foundation in IT solutions and expertise to market itself as a leader of conducting business on the Internet through the term "e-business."[4] Then CEO Louis V. Gerstner, Jr. was prepared to invest $1 billion to market this new brand.[5]

After conducting worldwide market research, in October 1997, IBM began with an eight-page piece in the Wall Street Journal that would introduce the concept of "e-business" and advertise IBM's expertise in this new field.[4] IBM decided not to trademark the term "e-business" in the hopes that other companies would use the term and create an entire new industry.[5] However, this proved to be too successful and by 2000, to differentiate itself, IBM launched a $300 million campaign about its "e-business infrastructure" capabilities.[5]

Models[edit]

When organizations go online, they have to decide which e-business models best suit their goals.[6] A business model is defined as the organization of product, service and information flows, and the source of revenues and benefits for suppliers and customers. The concept of e-business model is the same but used in the online presence.

See also[edit]

References[edit]

  1. ^ Beynon-Davies P. (2004). E-Business. Palgrave, Basingstoke. ISBN 1-4039-1348-X
  2. ^ Gerstner, L. (2002). Who says Elephants Can't Dance? Inside IBM's Historic Turnaround. pg 172. ISBN 0-06-052379-4
  3. ^ Amor, D. (1999). The e-business (r)evolution. Upper Saddle River: Prentice Hall. 
  4. ^ a b Pettit, Raymond (2012). Learning From Winners: How the ARF Ogilvy Award Winners Use Market Research to Create Advertising Success. Taylor & Francis. pp. 32–33. ISBN 9781136676765. Retrieved 2014-05-31. 
  5. ^ a b c Meyer, Marc H. (2007). The Fast Path to Corporate Growth: Leveraging Knowledge and Technologies to New Market Applications. Oxford University Press. p. 30. ISBN 978-0195180862. 
  6. ^ Paul Timers, (2000), Electronic Commerce - strategies & models for business-to-business trading, pp.31, John Wiley & Sons, Ltd, ISBN 0-471-72029-1