E-Commerce – A Tool for Sustainable Business Development

Innovation in technology and communication has brought significant changes in the ways of conducting a business. The invention of Internet especially has helped economies to grow significantly due to the rapid growth of e-commerce. Bloomenthal in a web article of Investopedia titled “E-Commerce (e-commerce)” states that “E-Commerce or Electronic Commerce is a business model that lets firms and individuals conduct business over electronic networks, most notably: the Internet.”Wikipedia further elaborates that “Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems.”