What Defines Success in Social Commerce Essay Example | Topics and Well Written Essays - 1750 words

What Defines Success in Social Commerce - Essay Example This has propagated the emergence of a global economy, e-commerce, and e-business in the formulation of the modern business strategies thus promoting economic development. Ideally, the invention of internet and networking services generated integration of information and communications technology in the global market thus fostering business relationships between countries, organizations, and even individuals (Pearson Education, Inc., 2010). Indeed, since the electronic technologies are in the verge of continued advancement, we can confidently anticipate that their use in the supply chain will lead to increased e-business and globalization. However, is unfortunate that many small and medium businesses are yet to understand the significance of e-commerce and equally make no effort to engage in it (Manzoor, 2010). Actually, there is continued misunderstanding on the difference between e-business with e-commerce despite the fact that e-commerce has been in application for over 40 years s ince the invention of the electronic transmission of messages. Most assuredly, the advancements in internet and web-based technologies establish the clear distinction between traditional markets and modern markets, which host e-commerce. Factually, e-commerce incorporates the two-way communication between the consumer and the suppliers as well as supporting the business relations between corporations. Indeed, e-commerce involves all aspects of trade including marketing, ordering, and supply (Manzoor, 2010). More so, it also supports both physical and intangible trading as well enabling the payments for goods offered. In addition, e-commerce supports electronic provision of services such as after sales support or on-line legal advice. E-commerce uses the internet and social networking technologies to do business and is thus available everywhere and every time within an internet hub. Notably, e-commerce significantly increases the global market base as customers can access products fr om different locations in the world (Oracle, 2012). Furthermore, e-commerce promotes personalization in the market by enabling businesspersons to pass their messages to the target markets and target individuals in the context of purchasing and rendering payment. It is also flexible in that it allows customers to change the product or service in line with their tastes, preferences, and purchasing power. Most significantly, is the fact that e-commerce is universal in that its standards apply equally across all nations in the world. Nevertheless, there have always been challenges in defining e-commerce. However, the most acceptable definition of e-commerce refers to a wide range of online business activities for products and services across the world. Ideally, e-commerce equally refers to any electronically interaction for purposes of business (Goel, 2007). It is specifically business in the internet though a computer-mediated network and incorporates no physical interaction. Moreover, it entails the sharing of business information, using networks to conduct business, and maintaining business interactions. Notable, there is a misconception between e-commerce and e-business. However, the two are quite different in that e-business do not include commercial transaction or cross boundaries business interactions. Nevertheless, e-business and e-commerce interact where internal business systems connect with suppliers. Most assuredly, e-commerce is increasingly becoming a social commerce. Indeed, social commerce and e-commerce rely on one another. Social commerce uses electronic commerce and relies on interactions