6. E-Business

• Define the term e-business

  E-business online transaction of goods and services and the transfer funds through digital communications. Introduction of e-commerce has created extra competition and extra opportunity for businesses in Northern Ireland.
• Give two advantages of e-commerce for a business

  The first advantage is a business can be open 24/7 365 days a year this means more opportunity for sales therefore a higher profit.

  The second advantage is it expands the market from regional to global
• Give two disadvantages of e-commerce for a business

  The first disadvantage is an efficient packing and distribution system are essential and more packaging means the products are more costly

  The second disadvantage is customers or more reluctant to buy very expensive items online such as jewelry
• Give two advantages of e-commerce for customers

  The first advantage is businesses are open 24/7 365 days of the year this allows for customers to make purchases at any time.

  The second advantage is convenience as customers are able to shop from the comfort of their own home and have the goods delivered directly.
• Give 2 disadvantages of E-commerce for customers

  The first disadvantage is the lack of trust in payment systems and security issues and fear of information wrongly being used by hackers.

  The second disadvantage is the delay between ordering and receiving goods.
• Give 2 reasons how E-business supports international business

  The first reason is E business allows home businesses to purchase supplies and raw materials for international sources. These may be cheaper.

  The second reason is home businesses can sell internationally, increasing the size of their market and allowing them to be known internationally. This can increase their productivity and sales revenue.