Electronic Commerce Research Paper Example | Topics and Well Written Essays - 1250 words

Electronic Commerce - Research Paper Example It is evidently clear from the discussion that the dawn of the World Wide Web has led to many innovations; one of them is on the new ways of transacting business. Electronic commerce has enabled an easy and efficient platform for the transaction of business among various stakeholders using the internet. The ubiquitous nature of electronic commerce allows companies and consumers the ability to transact anywhere and anytime. Electronic commerce can be seen to have rewritten the traditional mode of transacting, which is the business to business model and ushered in an era where multiple parties can transact without having to physically engage with each other. This paper will explore the cost and benefits to firms and consumers, together with job creation brought by this form of medium. The paper will also highlight challenges in infrastructure, privacy concern, and legal framework that electronic commerce faces. Businesses main objective is to grow in size and increase profit margins. O ne of the ways electronic commerce has assisted businesses to achieve this is by allowing them to save on costs by linking them directly with their customers thereby eliminating the need for intermediaries. The net effect of this cost-saving measure is the improved bottom line that companies will be enjoying. Businesses may choose to reduce prices for shoppers who employ this medium in order to attract more consumers consequently growing their revenue. Electronic commerce also enables businesses to move into the cyber world by establishing cyber stores which are cheaper to establish than physical shops.