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  • Print publication year: 2007
  • Online publication date: May 2010

E - e-Commerce/e-business to European Union Directive on Privacy and Electronic Commerce 2002

Summary

Definition: e-Commerce/e-business are business models that utilize the internet as a mechanism through which companies, vendors, and customers interact.

Overview

e-Commerce originated with the deregulation of the internet in 1995. It was originally conceived as a business-to-customer (B2C) model of commerce, and corporations were formed to provide services and products over the internet without having any physical retail presence (e.g., Amazon.com, the well-known online book seller).

The term e-Business was coined by Lou Gerstner, then CEO of IBM, who looked beyond the B2C model to use the internet for delivering services and supporting physical business channels.

The start-up companies that adopted pure B2C commerce, for which there is no physical retail store, together with startup business-to-business (B2B) organizations, which also owned no physical retailing or warehousing capacity, aimed to “disintermediate” the established companies by having lower internal and distribution-channel costs. Unfortunately, this model proved to be very expensive to support as the businesses attempted to scale up and reach profitability, and the majority ran out of capital following the decline in the US stock market of 2000 and closed down. Those that survived the stock-market crash endured a market consolidation and continue to attempt to build market share, drive down costs, and become profitable or maintain profitability.

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Reference
Plant, R. (2000). e-Commerce: Formulation of Strategy (Englewood Cliffs, NJ, Prentice-Hall).
Associated terminology: Internet, Dynamic web pages, W3C.
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Associated terminology: XML, X.12, Health Insurance Portability and Accountability Act.
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Associated terminology: Public key–private key, One-way hash, Password.
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Associated terminology: ERP, Visual Basic.
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Associated terminology: ERP, Legacy system.
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Associated terminology: XML, Operating system.
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Associated terminology: UML.
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Reference
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References
Official Journal of the European Communities, L 201/37, 2002.
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Associated terminology: Law cross-reference.