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The Challenges of Decision Making in an Environment of High Speed and Complexity - Term Paper Example

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This paper, The Challenges of Decision Making in an Environment of High Speed and Complexity, discusses that the e-economy is a broad field that deals entirely with all the businesses which are facilitated by the Internet, a network of computers…
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The Challenges of Decision Making in an Environment of High Speed and Complexity
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Download file to see previous pages E-Commerce has been narrowed down to purchasing over the Internet while in the real sense, it comprises many other elements. It encompasses B2C (Business to Customer), B2B Business to Business, C2C (Customer-to-Customer), peer to peer and e-commerce transactions according to Miller. In business to customer transactions, the retailers and the marketers are online and sell their products to individual customers. B2B is the largest kind of e-commerce and involves a huge lump sum of capital and both parties are business entities rather than individual customers. As progress is evident in the information Technology m-commerce has evolved to a point in which the mobile devices are used to assist in business transactions. The rest of the types of e-commerce will not be defined in this section but only the important ones for this section.
E-commerce has continued to gain popularity ever since its inception and with the continued adoption of Internet technology. Though this is the case, most people, who may be potential customers, have not yet realized the benefits of e-commerce either due to ignorance or the Internet is not within their limit. Though different, e-commerce follows the basic format of trading in which the buyers and the sellers meet, agree on the price and exchange the commodity for a standard measure of value. The major difference between e-commerce and the traditional way of doing business is that in the former, transactions are carried out through networked computers or basically, the Internet.
This mode of business assists the seller to reduce their costs and above all expand their business. The reduced costs are due to the partial or total elimination of the labor costs, construction costs and the need to maintain a physical stall or printing of the traditional catalogs. ...Download file to see next pagesRead More
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