Chapter 1: Introduction
Background to the Context
The term ecommerce is used to describe almost all forms of business that are carried out by making use of the internet. As such, the term refers to an extremely wide range of business activities that take place online. The trading of goods and services over the internet as well as all forms of business transactions where the parties interact electronically fall into the perimeters of the term ecommerce.
To be precise, “E-commerce is the use of electronic communications and digital information processing technology in business transactions to create, transform, and redefine relationships for value creation between or among organizations, and between organizations and individuals” (Andam 2003 p. 6).
The implementation of ecommerce allows the cutting back of communication costs in the subject economy (Epstein 2004). This is brought about as a combined implication of communication costs, technology infrastructure implementation, lesser transaction costs, decreased information sharing and information propagation costs as well as significantly decreased costs pertaining to effective customer service provision.
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