Chapter 5 Notes

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Department
Financial Accounting
Course
MGAC70H3
Professor
Tim Richardson
Semester
Winter

Description
Chapter 5 NotesIntroductionelectronic commerce ecommerce is commerce but it is commerce accelerated and enhanced by IT particularly Internetecommerce enables customers consumers and companies to form powerful new relationships that would not be possible without the enabling technologies and it breaks down business barriers such as time geography language currency and culturepathtoprofitability P2P is a formal business plan that outlines key business issues such as customer targets by demographic industry etc marketing strategies operations strategies eg procurement production transportation and logistics and projected targets for income statement and balance sheet itemsrunning an ecommerce operation is no different from running a traditional bricksandmortar businessECommerce Business ModelsBusiness to Business B2B ECommercebusiness to business B2B ecommerce occurs when a business sells products and services to customers that are other businessesB2B ecommerce is where all the money is right now in the ecommerce worldB2B emarketplaces are virtual marketplaces in which businesses buy from and sell products to each other share information as in information partnerships discussed in Chapter 2 and perform other important activitiesbusinesses are increasingly aware that they must create supply chain management systems drive down costs create information partnerships with other businesses and even collaborate with other businesses on new product and service offeringsB2B emarketplaces offer tremendous efficiencies to businesses for performing all of these tasksBusiness to Consumer B2C ECommercebusiness to consumer B2C ecommerce occurs when a business sells products and services to customers who are individualsB2C ecommerce is the model that fuelled the early growth of ecommerce in the 1990sB2C ecommerce is very much a cutthroat environment no matter what the product and serviceOther ECommercebusiness to government B2G ecommerce occurs when a business sells products and services to a government entityconsumer to business C2B ecommerce occurs when an individual sells products and services to a businessconsumer to consumer C2C ecommerce occurs when an individual sells products and services to another individualconsumer to government C2G ecommerce occurs when an individual sells products and services to a government entitygovernment to business G2B ecommerce occurs when a government entity sells products and services to businessesgovernment to consumer G2C refers to the electronic commerce activities performed between a government and its citizen
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