The development and future perspective of E-commerce

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The development and future perspective of E-commerce

Generally, e-commerce is the extensive usage of computer networks together with the internet to improve the performance of an organization or institution. Its development has actually revolutionized business practices across the globe, worldwide. Its usage has helped many businesses to reduce delivery time, increase market share, increase profitability and improve services. Even though it is intensively used, its development has been gradual. However, e-commerce has been adopted currently by many business and they basically view it as a tool for future development of an organization (Hawk, 702).This article tries to explore the developments and future perspective of electronic commerce.

The world has undergone different changes that have dictated global economy. These changes are subject to socio-economic revolution and industrial developments. For instance, railway industry in the 19th century took a centre stage in the growth of the economy. However, in the 1990’s ICT development provided a vital platform for the planning and business development? In addition, introduction of internet in the same year improved the ease of communication thus ushering in a new digital era (Farrokhnia and Richards, 164). However, only few large organizations were able to afford the internet which they mainly used for communication. This marked the beginning of electronic commerce. By 2000s, rapid advances in technology increased the affordability of internet and computers hence making it easy for businesses to use ICT to communicate with their clients and customers (Hawk, 702-709).

An improvement in the ICT enabled organization to realize its importance as a tool for continual and future development, facilitating many organizations to adopt electronic commerce concept in their operations. Currently many small and medium sized enterprises have actually adopted the concept due to the availability of cheaper and affordable personal computers in contrary to long time ago whereby only few large corporations could use ICT. Currently many businesses use e-commerce for many reasons other than just communication. They use it to enable them improve their distribution channels, marketing strategies, performance index and profit margins (Kamel and Hussein, 122). This therefore provides evidence that ICT continually improves, hence the essentiality of adopting electronic commerce due to the exponential improvement in its safety, user preference and convenience (Peacock, 94-96).

Different scholars have different opinions regarding the future of electronic commerce. One school of thought points out that as long as other technology and ICT improve, the number of businesses and organizations using e-commerce is actually bound to increase (Hawk, 702-709). However, a second group points out that its usage has reached its peak and what business are doping is just to manipulate different dynamics of electronic commerce so that they can remain competitive (Farrokhnia and Richards, 161-181). Even though their opinions differ, it is true that the use of ICT will actually improve the manner in organizations are run and how businesses are conducted. In future many businesses will trade via internet thus many transactions will be electronic.

The study clearly points out that E-commerce, also known as electronic commerce or eCommerce is basically a trade in services or products which is conducted through computer networks, basically the internet. ICT and electronic commerce actually developed in the 990’s with an aim of improving organizational performance. Many organizations and individuals have adopted the use of e-commerce in a bid to improve their marketing, communication and distribution. It is also evident that e-commerce is futuristic and hence will further improve business transaction due to the fact that many more business will adopt e-commerce thus increasing electronic transactions due to the perceived improvement of the ICT.

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Farrokhnia, Farrokh and Richards Cameron. “The Accountability Challenge to Global E-commerce: The Need to Overcome the Developed-Developing Country Divide in WTO E-commerce.”Advances in Sustainability and Environmental Justice12, no.1 (2013):161-181.

Hawk, Stephen.“The Development of Russia e-commerce; the Case of Ozon.” Management Decision 40 no.7 (2002):702-709.

Kamel, Sherif and Hussein Maha.“The Development of e-commerce: the Emerging virtual Context within Egypt.” Logistic Information Management 14, no. 1 (2001):119-126.

Peacock, Michael. Php 5 E-Commerce Development: Create a Flexible Framework in Php for a Powerful E-Commerce Solutuion. Birmingham, U.K: Packt Pub, 2010. Internet resource.

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