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What is e-business?

E-business is about using Internet technologies to provide superior customer service, streamline business processes, increase sales, and reduce costs. E-business uses tools such as email, online banking solutions, websites, supply chain management software and web-based customer relationship management.

E-commerce and e-business

Electronic commerce, or e-commerce, is any commercial activity, either business to business or business to customer, conducted over electronic networks such as the Internet. E-commerce includes the following activities:

• Commercial transactions conducted by Internet, telephone and fax
• Electronic banking and payment systems
• Trade in digitized goods and services
• Electronic purchasing and restocking systems (supply chain management)
• B2B exchange of data
• Delivery of goods and/or services purchased (order fulfillment)
• Customer service

E-commerce is just one aspect of e-business. Any business owner who uses the Internet to develop or enhance their business is using e-business. This means that you may already be using e-business in your own enterprise.

How can e-business help you?

E-business can benefit all types of businesses. It is not limited to technology-related products and services; companies in every field are doing business online. Networking through e-business can be applied to any part of a company's operations, including marketing and sales, purchasing and logistics, production, design and engineering. The most effective use of e-business is when several of these functions are combined.

Electronic business or e-business can help your business to:

• Cut costs and transaction times
• Save time and money by improving internal and external functions
• Streamline internal and external supply chain management
• Promote, market and sell around the world and around the clock through a website
• Improve customer support, communication and relationship management
• Compete globally with your website against businesses of all sizes without setting up offices in other countries

E-business for the small, local business

E-business can make you competitive with much larger enterprises. Your market can be the world, and the Internet makes reaching that market easy. Some of you may not think your business needs to reach globally, or even inter-provincially. Think again, because e-business can work for you.

Consider one type of small, local business such as a restaurant. How could it take advantage of e-business?

Marketing and Sales

• A website makes it easier for your customers to find you if you include your address, phone number, and a small map. Many people now go to the Web before going to the phone book.
• You can post your hours of operation.
• You can post your menu and any special events online.
• Your customers can make reservations online.
• If you offer take-out or delivery, your customers can order and pay online. This in turn may:
  • Reduce the amount of food wasted on orders that are never purchased
  • Improve safety for your delivery staff by reducing the amount of cash they have to carry
  • Improve deliveries when less time is spent on the payment
  • Reduce the amount of disputes over orders with a printout of the order

Inventory Control

Many suppliers, including restaurant suppliers, let you order online. The smart ones will offer you your own online portal, giving you a special connection to their intranet. This helps you be more efficient by letting you:

• Place your order at your convenience
• See your order history
• Track seasonal trends
• Keep up with order schedules

Staff Management

Email lets you better communicate with your staff. You can send work schedules and eliminate any excuse for not knowing who is working what shift. Staff can let you know about unplanned absences at any time of the day, making it easier for you to fill in gaps in the schedule.

The restaurant was just an example. Many of the e-business strategies listed above can work for any type of local business. Think about areas of your business that could be more efficient. You can find an easy, cost-effective way for e-business to give you that efficiency.