The process of buying and selling goods and services through electronic systems, such as the internet, computer networks, etc, is known as e-commerce (electronic commerce). Business to business (B2B), Business to Customer (B2C), Consumer to Consumer (C2C), and Customer to Business (C2B) are some popular business models of e-commerce. E-Commerce is a rapidly growing area of business that has helped both customers and businessmen in the last two decades. Amazon, Flipkart, and Myntra are the most popular platform for e-commerce. With the advent of e-commerce, many business strategies and models have been changed and modified.
Traditional business is one of the oldest forms of business. A business that sells its services and goods to its customers through a store is known as a traditional business. In contrast, e-commerce includes the process of selling and purchasing goods and services through online platforms. Traditional business is considered as expensive as compared to e-commerce. To start a traditional business, one needs to have a shop to sell the goods and services. Whereas Through online platforms, one can easily sell his products without purchasing or renting the shops.
Thus, traditional business is considered an expensive form of business. E-commerce help business owners to sell their products without any time and distance barriers, and when we talk about the traditional form of business, the owners of traditional business need to work according to the government rules and regulations for time, and it becomes difficult for the customers to travel and spent lots of time to buy a product or services according to their need. Therefore, nowadays, customers prefer to shop online, and e-commerce is on the trend.
E-commerce has changed the way of doing business as it has given online platforms to business owners to enhance their businesses. Information communication and technology (ICT) is known as the most effective strategy that helps businesses to grow, but in the past two decades, with the advancement of e-commerce, many business models and strategies have been changed.
In 1991, Malone and Rocket said that technology will help businesses in many different ways as it will reduce the cost of doing a business, it will improve the coordination among business owners and their customers, and will change some business strategies and models to enhance the business profit. Few business strategies and models that have been changed due to e-commerce and the improvement in information and communication technology:
Profit and loss are the major part of a business, but now, after the advancement of e-commerce and technology, the world has seen many positive changes in business and the economy. By using effective business models and strategies and changing them according to the time and requirements, business owners can give positive growth to their business.
Many students in Australia are trying to enhance their career opportunities and knowledge associated with business models and strategies by pursuing a degree in business management. While pursuing a degree in business management, students are required to write many complex assignments. But, sometimes, due to the short deadlines of assignments and insufficient subject knowledge, it becomes difficult for students to draft their assignments.
Thus, they ask experts to do my assignments for me. There are many Australian assignment help experts that work all round the clock to help students in completing their assignments. It is said that by taking instant assignment help services from experienced assignment experts in Australia, students can deliver their assignments on time and can pass their courses with the best academic grades.
HOW E-COMMERCE IS RESHAPING OUR BUSINESS MODELS AND COORDINATING STRUCTURES: IMPLICATIONS FOR MANAGERIAL PRACTICE. (2022). Retrieved 15 June 2022, from https://home.csulb.edu/~moshir/WDSI_2000-2016/2000_WDSI_Maui/pdffiles/papers/265.pdf
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