We can divide E-Commerce in three component:

(i) Institutions         (ii) Process            (iii) Networks

Institutions of E-Commerce

Institutions plays major role in the success of e-commerce. Institutions like government, merchants, manufacturers, suppliers, consumers, banks, and financial institutions are the key to implement to e-commerce. Let us discuss their role in short:

Despite the importance of technological and skill infrastructures, it is the politics of Governance initiatives that probably hold the key. E-commerce projects have made slow progress in many countries because they do not serve the political self-interests of the major stakeholders, particular senior public officials and government. Government is responsible to make the policy and rules of e-commerce in any country.

As we know that every institute involve in e-commerce must be equally competitive for the success of the e-commerce. Merchants are very essential part of any type of business, they must show willingness and courage to implement e-commerce in their traditional business. Merchants hold the key for the success of the e-commerce since they are going to invest the money.

Suppliers are equally important component of e-commerce, they must have suitable infrastructure to support the e-commerce then only can get the benefit of e-commerce technology.

We know that consumer are key of any business so consumers must we aware about the latest development in e-commerce. It is very essential to change the mind set of consumers. So that they can start using the e-commerce then only it will be successful.

Nowadays banks are rapidly going for e-commerce to make their working efficient. Automated Teller Machines or 24-hour Tellers are electronic terminals that let our bank almost any time. To withdraw cash, make deposits, or transfer funds between accounts, we generally insert an ATM card and enter your PIN. Some financial institutions and ATM owners charge a fee, particularly to consumers who don’t have accounts with them or on transactions at remote screen before we complete the transaction. Check the rules of your institution and ATMs you use to find out when or whether a fee is charged.

Other non-banking institutions are also adopting e-commerce, for example now we can submit  premium on line from anywhere.

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