Electronic Commerce: State of the Art

There is a revolution transforming the global economy. Web technology is transforming all business activities into information-based. The rate of technological change is so rapid that emerging electronic commerce already is making fundamental changes in the economic landscape, affecting every aspect of how business is and will be conducted. The Web has extended the reach of corporations. New business opportunities are growing incrementally because of the vast amount of business information made available by the global Web, which helps bring together the information passed between businesses, between a business and its customers, and among different departments of a business. It will no longer be possible operationally or strategically to ignore the information-based virtual value chains for any business. This chapter reviews the scope, current applications, and the potentials of electronic commerce. It also develops a framework for identifying the significant opportunities and important research issues associated with electronic commerce. The emphasis is on taking an interdisciplinary view that integrates technology and business models.