Online Biz
Online Biz, commonly referred to as “eBusiness” or “e-Business”, may be defined as the utilisation of information and communication technologies (ICT) in support of all the activities of business. Commerce constitutes the exchange of products and services between businesses, groups and individuals and hence can be seen as one of the essential activities of any business. Hence, electronic commerce or eCommerce focuses on the use of ICT to enable the external activities and relationships of the business with individuals, groups and other businesses [1].
Louis Gerstner, the former CEO of IBM, in his book, ‘Who says Elephants can’t dance’ attributes the term “e-Business” to IBM’s marketing and Internet teams in 1996.
Online Biz methods enable companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers.
In practice, online biz is more than just online biz. While online biz refers to more strategic focus with an emphasis on the functions that occur using electronic capabilities, e-commerce is a subset of an overall online biz strategy. E-commerce seeks to add revenue streams using the World Wide Web or the Internet to build and enhance relationships with clients and partners and to improve efficiency using the Empty Vessel strategy. Often, e-commerce involves the application of knowledge management systems.
Online biz involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically, handling customer service, and cooperating with business partners. Special technical standards for e-business facilitate the exchange of data between companies. Online biz software solutions allow the integration of intra and inter firm business processes. Online biz can be conducted using the Web, the Internet, intranets, extranets, or some combination of these.
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