GMS 723 Chapter Notes - Chapter 4: Virtual Office

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 723
• Professor: Michael Manjuris

Document Summary

E-commerce: any commercial transaction carried out, facilitated, or enabled by the exchange of information electronically. The benefit to business is the capability to bring customers, vendors, and suppliers closer together and thus maximizing results. It promotes economies of scale, reduces operational costs, and improves customer service by enabling businesses to communicate directly with the client. The obvious advantage of the internet is the ability to bypass the middle of the supply chain that is, the many distributors, wholesalers, and storefronts of traditional business to reach directly to the consumer. Getting your business started on the web requires the least amount of financial capital; it simply requires a virtual office. The first step in obtaining a presence on the web is designing a website, which is made up of a home page and several supplemental pages of information.