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Electronic Commerce

 

 

Electronic Commerce for
the 21st Century

Today's corporations are engaged in fierce competition from every corner of the globe.

To survive, companies are seeking new and innovative strategies to increase revenue, improve customer satisfaction and remain viable.

According to a US Department of Commerce Report:"The Emerging Digital  Economy" Internet traffic is doubling every 100 days, yielding a yearly growth rate of more than 700 percent.

Between 1993 and 1997, the number of Internet Users rocketed from 3 million to more than 100 million.

Information technologies have driven more than 25 percent of real economic growth over the past five years.

Workers in the software and services industry made an average of $46,000 last year, well above the $28,000 average wage for the private sector.

Business-to-business transactions on the Internet will likely surpass $300 billion by 2002.

Small businesses with 10 to 99 employees may be the fastest-growing segment in today's market.

They account for 65% of the commercial PC market and are projected to grow another 43%.

Studies also show that small business are underinvested in technology and that most are looking for ways to use technology to stay competitive and squeeze productivity out of lean work forces.

Important vertical markets that are showing increases include accounting, law, medicine, real estate, banking, retail, and manufacturing.

The growth in the small-business computer market may be fueled by the improvements made in the price versus performance of hardware.

In addition, application software has been significantly enhanced.

Small-business owners also now see the benefits of multimedia, on-line services and Internet and intranet usage.

Only by embracing new business and market models, adopting interactive and network technologies, can management prepare their businesses for the real time marketplace of the 21st Century.

 

 

 

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