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business
Asked a question 2 years ago

What are the Benefits of E business?

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Ease of formation and lower

investment requirements: Unlike a

host of procedural requirements for

setting up an industry, e-business is

relatively easy to start. The benefits of

internet technology accrue to big or

small business alike. In fact, internet

is responsible for the popularity of the

phrase: ‘networked individuals and

firms are more efficient than

networthed individuals.’ This means

that even if you do not have much of

the investment (networth) but have

contacts (network), you can do

fabulous business.

Convenience: Internet offers the

convenience of ‘24 hours × 7 days a

week × 365 days’ a year business that

allowed Rita and Rekha to go for

shopping well after midnight. Such

flexibility is available even to the

organisational personnel whereby they

can do work from wherever they are,

and whenever they may want to do it.

Speed: As already noted, much of

the buying or selling involves exchange

of information that internet allows at

the click of a mouse. This benefit

becomes all the more attractive in the

case of information-intensive products

such as softwares, movies, music,

e-books and journals that can even be

delivered online. Cycle time, i.e., the

time taken to complete a cycle from the

origin of demand to its fulfilment,

is substantially reduced due to

transformation of the business

processes from being sequential to

becoming parallel or simultaneous.

You know that in the digital era, money

is defined as electronic pulses at

the speed of light, thanks to the

electronic funds transfer technology of

e-commerce.