Electronic commerce or e-commerce refers to a wide range of online business activi-ties for products and services.
It also pertains to “any form of business transaction in which the parties interact electronically rather than by physical exchanges or directphysical contact.”2 E-commerce is usually associated with buying and selling over the Internet, or con-
ducting any transaction involving the transfer of ownership or rights to use goods or
services through a computer-mediated network.
Though popular, this definition is not comprehensive enough to capture recent developments in this new and revolu-tionary business phenomenon. A more complete definition is: E-commerce is theuse of electronic communications and digital information processing technology in business transactions to create, transform, and redefine relationships for value creation between or among organizations, and between organizations and individuals.
International Data Corp (IDC) estimates the value of global e-commerce in 2000 at US$350.38 billion. This is projected to climb to as high as US$3.14 trillion by 2004. IDC also predicts an increase in Asia’s percentage share in worldwide e-commerce revenue from 5% in 2000 to 10% in 2004 (See Figure 1).
It also pertains to “any form of business transaction in which the parties interact electronically rather than by physical exchanges or directphysical contact.”2 E-commerce is usually associated with buying and selling over the Internet, or con-
ducting any transaction involving the transfer of ownership or rights to use goods or
services through a computer-mediated network.
Though popular, this definition is not comprehensive enough to capture recent developments in this new and revolu-tionary business phenomenon. A more complete definition is: E-commerce is theuse of electronic communications and digital information processing technology in business transactions to create, transform, and redefine relationships for value creation between or among organizations, and between organizations and individuals.
International Data Corp (IDC) estimates the value of global e-commerce in 2000 at US$350.38 billion. This is projected to climb to as high as US$3.14 trillion by 2004. IDC also predicts an increase in Asia’s percentage share in worldwide e-commerce revenue from 5% in 2000 to 10% in 2004 (See Figure 1).
