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Exploring the impact of Information and Communication Technology (ICT) on modern business, this overview delves into the nuances of e-commerce and m-commerce. It discusses how digital platforms facilitate global trade, streamline operations, and offer personalized shopping experiences. The text also examines various e-commerce business models like B2B, B2C, and C2C, and considers the future prospects of digital commerce in light of technological advancements.
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ICT enables businesses to efficiently manage operations by improving the collection, storage, and analysis of data
E-commerce
E-commerce is the practice of buying and selling goods and services over the Internet, allowing businesses to operate on a global scale and contributing to the trend of globalization
M-commerce
M-commerce leverages mobile technology to enhance the shopping experience and reflects consumers' preference for shopping on-the-go
The strategic use of ICT can lead to competitive advantages, streamlining processes, and enhancing customer engagement
E-commerce platforms can be specialized websites for individual companies or expansive online marketplaces that host multiple vendors
The proliferation of e-commerce has democratized market access, enabling small businesses to reach customers worldwide and integrating services like food delivery into the e-commerce model
E-commerce offers benefits such as reduced costs and expanded market reach, but also comes with challenges such as website development and supply chain management
M-commerce utilizes mobile-specific features such as location-based services, push notifications, and biometric security to enhance the shopping experience
The growth of m-commerce reflects consumers' increasing preference for shopping on-the-go and the demand for seamless, secure mobile transactions
M-commerce differs from traditional e-commerce in its emphasis on mobility and personalized user experiences
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ICT role in data management
ICT improves collection, storage, and analysis of data for better business decision-making.
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Impact of ICT on transactions
Enables digital transactions via e-commerce and m-commerce, expanding business reach globally.
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ICT for competitive advantage
Strategic ICT use streamlines processes and enhances customer engagement, leading to market edge.
