Electronic and mobile commerce are evolving Describe the fol

Electronic and mobile commerce are evolving. Describe the following as they relate to eCommerce: B2B; B2C; C2C Your answers should identify both the potential benefits and problems associated with each.

Solution

Electronic commerce (EC) describes the buying and selling of products, services, and information via computer networks, primarily the Internet

Business-to-business EC occurs when two or more businesses make transactions electronically. Participants in B2B exchanges can reduce cycle trading time and costs as well as finding new markets and trading partners around the globe through the exchange.

Benefits:

o   It makes national and international markets more accessible

o   It lowers the costs of processing, distributing, and retrieving information

o   Customers are able to access products and services around the clock

o   The major benefit to society is the ability to easily and conveniently deliver information, services, and products to people in cities, rural areas, and developing countries

Limitations:

o   Lack of universally accepted security standards

o   Insufficient bandwidth

o   Expensive accessibility

o   Unresolved legal issues

o   Perception of being insecure

o   Lacking in critical mass of sellers and buyers