ELECTIVE 3

GROUP REPORT IN ELECTIVE 3 E-COMMERCE

TOPICS:

E-COMMERCE AND SOCIAL COMMERCE

1. The Benefits, Advantages and Disadvantages of E-commerce to Individuals,

Organizations and Society;

Electronic commerce (EC) refers to the process of conducting business across

networks, primarily through the Internet. It is the act of purchasing and selling products,
services, and information through the internet. E-commerce activities — which include
online stock and ticket trading—are expanding more quickly than noninternet trades. But
EC is not just about buying and selling, it is also about electronic interaction, collaborating,
and discovering knowledge. It covers a variety of topics, including social networks, e-
government, e-health, and e-learning. A large segment of the world, including developing
nations, is affected by electronic commerce, which has an influence on businesses,
professions, and most importantly, people. Ecommerce is a type of traditional commerce
and economics, and it is closely related to other cultural studies like administration and
law. It needs an administrative and legal structure that is proper for its administration and
legitimate for the defense of its customers. The transfer of money or data via the internet
to allow the buying and selling of products and services is known as "e-commerce," or
electronic commerce. (Shatha Khalil -February 7 2018 E-commerce creates a change in
the global economy)

The digital revolution provides the necessary technologies for E-commerce. It also
improves business processes and productivity. The technique is expected to decrease
consumer anxiety about fake and replica items by using technology. It also creates the
foundation for the use of more digital technologies in e-commerce transactions. The
technology makes it simple for companies and customers to communicate about
promotions and the warranty procedure. The use of QR codes, will build consumer trust
and secure the reputations of brands and companies, enabling them to successfully enter
markets abroad where tight authentication standards are often in place. A system is also
a helpful tool for managing and controlling the commodities market for state management
organizations. Since the supply of production components and the rise in the supply of
goods and services are not the only factors influencing economic growth, e-commerce
has an impact on the structure of markets for both products and services as well as
markets for production elements. The markets have been crowded with companies and
multiple products, and competition has intensified among them then E-commerce
emerged as a tool for modern commerce which has contributed significantly to changing
the future of global business. One of the advantages of e-commerce is that it provides
time and effort, facilitates access to foreign markets, helps economic growth and
improves exports and production.

2. Technical and Economic Changes of E-commerce;

Electronic commerce (EC) refers to the process of conducting business across

networks, primarily through the Internet. It is the act of purchasing and selling products,
services, and information through the internet. E-commerce activities—which include
online stock and ticket trading—are expanding more quickly than non-internet trades. But
EC is not just about buying and selling, it is also about electronic interaction, collaborating,
and discovering knowledge. It covers a variety of topics, including social networks, e-
government, e-health, and e-learning. A large segment of the world, including developing
nations, is affected by electronic commerce, which has an influence on businesses,
professions, and most importantly, people.
 E-commerce is a type of traditional commerce and economics, and it is closely
related to other cultural studies like administration and law. It needs an administrative and
legal structure that is proper for its administration and legitimate for the defense of its
customers. The transfer of money or data via the internet to allow the buying and selling
of products and services is known as "e-commerce," or electronic commerce. (Shatha
Khalil - February 7, 2018 E-commerce creates a change in the global economy).

The digital revolution provides the necessary technologies for E-commerce. It also
improves business processes and productivity. The technique is expected to decrease
consumer anxiety about fake and replica items by using technology. It also creates the
foundation for the use of more digital technologies in e-commerce transactions. The
technology makes it simple for companies and customers to communicate about
promotions and the warranty procedure. The use of QR codes, will build consumer trust
and secure the reputations of brands and companies, enabling them to successfully enter
markets abroad where tight authentication standards are often in place. A system is also
a helpful tool for managing and controlling the commodities market for state management
organizations. Since the supply of production components and the rise in the supply of
goods and services are not the only factors influencing economic growth, e-commerce
has an impact on the structure of markets for both products and services as well as
markets for production elements. The markets have been crowded with companies and
multiple products, and competition has intensified among them then E-commerce
emerged as a tool for modern commerce which has contributed significantly to changing
the future of global business. One of the advantages of e-commerce is that it provides
time and effort, facilitates access to foreign markets, helps economic growth and
improves exports and production.

3. Social Commerce and Digital Economy;

The Social Commerce Revolution Archived April 2013 Where the Digital Economy
Is Moving the Fastest by Bhaskar Chakravorti, Christopher Tunnard, and Ravi Shankar
Chaturvedi February 19, 2015 The evolution of social commerce social commerce is a
type of electronic commerce that involves social or digital media to assist online buying
and selling. More succinctly, social commerce is the use of social networks in the context
of ecommerce transactions.

The Digital Economy Transition to digital technology is in progress. From the media
to cars, tourism, agriculture and healthcare, the whole of the economy is now digital. New
business models, supported by powerful network effects and large-scale use of data,
upset the balance of regulations and of our social model. The digital economy is also
giving rise to legitimate concerns regarding the future of employment. The transition to a
global digital economy in 2014 was sporadic – brisk in some countries, choppy in others.
The “digital” economy is distinguished by the major place held by phenomena of
increasing productivity: the more clients a company has, the more “productive”

4. Social Advertising;

It is defined as a type of advertising used to optimize social interest causes to fulfill

non-commercial objectives, channel social development, and optimize brand awareness
by using relevant mediums. Social media platforms provide brands and companies
specific and valuable user data, which helps them maintain social relationships with
customers to increase public awareness.

5. Social Customer Service and Customer Relationship Management (CRM);

Using social media to provide customer care benefits businesses and consumers,
so make sure your strategy focuses on delivering exceptional experiences with each
interaction. Here are a few social media customer service examples of companies that
routinely go above and beyond, with takeaways you can learn from each of them.
 Customer relationship management (CRM)

Built trust between the two parties through met expectations and quality customer
service will entice the client to other solutions if they see the right fit, giving the company
an opportunity to expand their business and revenues. The marketing and sales teams
were able to work together with customer relations in order to best serve the customer.

6. Limitations, Impacts and Future of E-commerce: Discuss the Ethical and

Social Issues.

IMPACTS AND FUTURE OF E-COMMERCE

1. TRANSFORMATION IN THE MARKETPLACE

Now business can be conducted at anywhere any place accessible to internet.

Firms can offer their products and services with involvement of intermediaries. Traditional
intermediary functions will be replaced, new products and markets will be developed, and
new and far closer relationships will be created between business and consumers. It will
change the organization of work- new channels of knowledge diffusion and human
interactivity in the workplace will be opened more flexibility.

2. FAST GROWTH OF BUSINESS

E-commerce will serve as a catalyst and diffuse more widely changes that are
already under way in the economy, such as the reform of regulations, the establishment
of electronic links between businesses (EDI), the globalization of economic activity, and
the demand for higher-skilled workers.
 Likewise, many pectoral trends already under way, such as electronic banking,
direct booking of travel, and one-to-one marketing, will be accelerated because of
electronic commerce.

3. HELPFUL IN GLOBALIZATION

Information exchange was constraint in transnational business but e-commerce

provides facilities to MNCs and global organizations to transfer real time information to
employees, stake holders and customers.

 ETHICAL AND SOCIAL ISSUES

A number of ethical and social issues may apply to toxic genomics. These issues
include privacy and confidentiality, issues related to socially vulnerable populations,
health insurance discrimination, employment discrimination, and individual responsibility,
issues related to race and ethnicity, and implementation.

Social issues, are problems that affect a larger number of people and the major
thing is that the individuals in the society may not have the control over these problems.
Also, social issues differ from one society to another, depending on several reasons. A
social issue may be caused due to geographical, educational, economical or a political
reasons. If we look at some common examples of social issues, we can see that some of
them are applicable universally as well. The nature of these issues may vary from one
society to another, but the cause or the base of the problem may be the same in many
cases. It is difficult for individuals to find solutions for social problems alone. It should be
done in a collective manner with the aid of the government as well. However, an individual
problem also has the possibility of turning into a social issue, if it aggregates the effect
over a number of people.
 Ethics is the moral conduct or the moral philosophy of individuals, through which
they identify what is good and bad or right and wrong. Ethics defines the way how to live
in a morally accepted manner. Ethics can be considered as a universal phenomenon.
Each society has its own ethical conduct. Ethical issues arise in instances where people
go against this accepted behavioral pattern. Since ethics show the right or wrong manner
of living, individuals in a society are expected to follow those principles. If we take an
example, protecting the environment is ethical in almost all the societies. However, if one
person or a group of people goes against this, there can be harmful consequences.
Ethical issues may or may not affect the society as a whole. It depends on the issue and
the response of the members of the society as well.