ELECTRONIC BUSINESS Meaning and
Definition
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Electronic business, also known as e-business, refers to the conduct of commercial transactions and activities through electronic means, particularly involving the internet and other digital technologies. It encompasses a wide range of activities, including online buying and selling, online banking, online advertising, online customer service, and online collaboration.
In an electronic business, transactions are executed electronically without the need for physical interaction or the use of traditional paper-based methods. E-commerce serves as a pivotal aspect of electronic business, facilitating the online buying and selling of goods and services. However, electronic business extends beyond just transactions, encompassing all aspects of business operations and processes that are conducted online.
The advent of the internet and advancements in communication technologies have revolutionized the way businesses operate. Electronic business offers numerous advantages, such as accessibility, convenience, global reach, cost-effectiveness, and the ability to gather and analyze vast amounts of data. It has enabled businesses to seamlessly connect with customers, suppliers, and partners across geographical boundaries and time zones.
Furthermore, electronic business has facilitated the emergence of new business models and strategies, such as online marketplaces, dropshipping, and digital advertising. It has also given rise to various supporting technologies, including electronic payment systems, customer relationship management (CRM) software, supply chain management tools, and data analytics platforms.
In summary, electronic business refers to the utilization of electronic technologies, particularly the internet, to conduct various business activities, including buying, selling, marketing, and customer service. It has transformed the way businesses operate and offers immense benefits in terms of efficiency, global reach, and innovation.
Common Misspellings for ELECTRONIC BUSINESS
- wlectronic business
- slectronic business
- dlectronic business
- rlectronic business
- 4lectronic business
- 3lectronic business
- ekectronic business
- epectronic business
- eoectronic business
- elwctronic business
- elsctronic business
- eldctronic business
- elrctronic business
- el4ctronic business
- el3ctronic business
- elextronic business
- elevtronic business
- eleftronic business
- eledtronic business
- elecrronic business
Etymology of ELECTRONIC BUSINESS
The term "electronic business" is a combination of two words: "electronic" and "business".
The word "electronic" originated from the Greek word "ēlektron", which referred to amber. Amber has the unique property of becoming electrically charged when rubbed, and this phenomenon was observed by the ancient Greeks. The term "electricity" evolved from "ēlektron" to describe the physical phenomenon of electric charge.
The word "business" emerged from the Old English word "bisignes", which meant "anxiety" or "occupation". It eventually evolved to refer to commercial activities, trade, or the making of a livelihood.
Therefore, the term "electronic business" combines the concept of using electronic technologies with commercial activities or trade. It specifically refers to conducting various business processes, transactions, and activities electronically, primarily through the use of computer networks and the internet.
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