E-Commerce

The convergence of computer and telecommunications technologies has revolutionized how we get, store, retrieve, and share information. Consumers now routinely use computer networks to identify sellers, evaluate products and services, compare prices, and exert market leverage. Electronic commerce (e-commerce) are business processes which shift transactions to the Internet. E-commerce is growing at a rapid rate. The value of e-commerce transactions, while still small relative to the size of the U.S. economy, continues to show strong growth despite a recent economic downturn. More significant than the dollar amount of these transactions, however, are the new business processes. Many new Internet-based companies and traditional producers of goods and services are working to transform their business processes into e-commerce processes in an effort to lower costs, improve customer service, and increase productivity, with varying degrees of success.
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