Online Business or e-business is any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups and individuals and can be seen as one of the essential activities of any business.
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E-business is short for “electronic business.” As an overarching term, it refers to any method of utilizing digital information and communication technologies to support or streamline business processes – from preparation to implementation. However, it can also refer more specifically to the business processes of online stores or other internet-based companies.
These two slightly different interpretations of the term have led to a problem: a widely accepted, precise definition of e-business does not yet exist. As a result, it’s interpreted broadly, and is commonly misunderstood – mainly in relation to e-commerce. Although there is some overlap, e-commerce refers to trading products and services online, and so is strictly only speaking of one aspect of e-business.
E-business or Online business means business transactions that take place online with the help of the internet. The term e-business came into existence in the year 1996. E-business is an 6abbreviation for electronic business. So the buyer and the seller don’t meet personally.
In today’s world, we are exposed to various forms of e-Business. Since its emergence, it has grown by leaps and bounds. Some predict that it may very soon overtake brick and mortar stores completely. While that remains to be seen, we cannot ignore the immense role it plays in the current global economy.