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Simply, E-Business
is activity conducted by any company that uses electronic communications
as an essential part of its business operation. This could involve
any or all of the standard components that make up a business –
supply chain, production, marketing, sales, delivery, office functions,
and overall management. Traditional
business books and training rarely mention E-Business, probably
because it is rather new. But E-Business is becoming central to
modern business activity, even if it merely involves the use of
e-mail as a communications channel.
No matter what
stage a company is in, no matter what industry it operates in, no
matter what region it operates in, E-Business will likely play some
part, largely because it has created such efficiency in business
processes. Today, E-Business gives many small companies the business
power firms 10 times their size had 25 years ago. Many businesses
could not exist today if it was not for e-business capability: This
could be one explanation for the explosion of entrepreneurship in
recent years.
Because E-Business
has become so crucial, it is very important that every business
have a well-planned E-Business strategy, just like it has a financial
strategy or a marketing strategy.
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