Evidence of Attendance

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Evidence of Attendance

Electronic business is the use of internet technologies in transforming key business processes. It has been observed that this method bears success stories in many companies. This is a summary of the main elements of the lecture on 23 October in relation to a recent news article.

On October 29, Minerds wrote a news article on how the F1 Moto Company had won a local E Business award (1). The company mainly conducted its business through e-business. They sell motorcycle sports power parts, engine parts and accessories through the internet. The issues they face as online retailers have also been illustrated such as working for long hours. E-business utilizes web 2.0 technologies. This form of new internet technologies supports peer-to-peer exchange, social networking and collaboration. Companies are able to advertise their products through collaboration techniques such as youtube, wikis, blogs and Facebook. This is facilitated because of the recent innovations on smartphones applications such as social networking, banking, music and sports that give customers easier access to products online.

In this course, it is important to distinguish e-business from e-commerce. Electronic commerce is the broad concept that covers business transactions using information communication technology. Hence, it can be out looked as a subset of e-business. Under e-commerce, there are terms that are significant to the topic. Online perspective is the business transactions that take part through online basis alone. A business process perspective is applying technology in business transactions automotive. Communications perspective means deliverance of products or payments electronically whereas service perspective is enabling cost cutting while increasing speed and quality of business transactions. In addition, e-business is controlled by the IT department (via intranet), marketing department (via internet) and purchasing department (via extranet).

Works Cited

Minerds, Aaryln. F1 Moto Win Local E Business Award. Fullhouse.com.au, 2013. Web. 31 October 2013.