E-Commerce – Boon Or Bane

The growth of computers has changed the life of every person in this world. Computer networking has become an integral part of our life. The technology has changed the way we live and work. The magnificent developments of computer technology have forced the people to use them. Computers are being used in every aspect of our life. We carry out our bank operations, mail services, and reservations of tickets through this technology. Electronic commerce is one of the important operations of computer networking. Generally, there is a discussions that whether e-commerce is a boon or bane. In this article, we shall see the detail to find the answer.

There are many online companies which are doing online transactions. Few important ones are – eBay, amazon.in, flipkart, myntra, jabong, snapdeal etc. Almost everyday, a new company is added in this segment.

Something about E-Commerce: Electronic commerce, commonly known as E-commerce, is trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction’s life cycle, although it may also use other technologies such as e-mail.

Advantages: Any organization small or big has to use some form or other of e-commerce for their commercial ventures. In the existing competitive market, it has become essential for all organization to exploit the benefits of e-commerce. There are several reasons for the success of e-commerce venture in commercial transactions.

Disadvantages: Although, e-commerce is very advantageous and profitable proposition for any companies as well as customers, there are few disadvantages too if proper care in the implementation stage is not taken.

There is a limitation when we decide about the scope of e-commerce. All conventional products available in the market cannot be found suitable for online transactions. However slowly all other companies are using e-commerce to enhance their productivity. E-commerce can be used for non-digital products especially which have a high value. They can also be used to reach to remote locations. They have a capability to cross the national boarder. People are in a position to conduct various economical transactions on network with the help of e-commerce.

21st century is going to be the century for the people who embrace technology to enhance their effectiveness and efficiency. E-commerce is very integral part of our growth. The spread of call centers and BPOs, now KPOs and many other process outsourcing are the indication of its prevalence. It is important that we consider e-commerce as boon and move accordingly so that we are not caught unaware. It is a challenge for all of us and at the same time, it throws immense opportunities for our growth and better living. E-commerce is a boon.

BY ROHAN PRASAD