Online Business (ธุรกิจออนไลน์, which is the term in Thai) or e-business is any kind of commercial transaction that includes sharing information across the internet. Goods or services are marketed, viewed, purchased, and delivery is organized thereafter once the order has been placed.
History
In 1994, IBM, using its subsidiary Ogilvy and Mather used their IT knowledge to start conducting business on the internet. The first named this type of transaction as ‘e-business’ in 1996. They also published an article in the Wall Street Journal about e-business. But they don’t make the term exclusive to them in the hope that other companies will use it to make a new industry based on it.
Business Model
Internet-based business companies make profits by using a diverse array of business models, from sailing products to showing advertisements to generate revenue and sharing data also.
Product sales or revenue model is a framework for generating income by identifying which are the revenue sources, how much the product is worth, for how much products should be sold, and who will buy the product.
On the other hand, the other two are part of the e-commerce business model. E-commerce draws on technologies such as Transferring funds via the internet, Marketing through the internet, processing online cash transfer, Collecting automated data, etc.
Online businesses can be seen as having an array of different business fronts. They can take many forms, such as Websites, Online shops or market places, Blogs, and Social media.
Advantages
Benefits of Online Business include no need for bigger office space and several staff. Even the product and service delivery can be done at the highest speed and effectively.
There are also advantages to the consumers, as a better connection with friends and family and purchasing stuff from home without getting out, etc.
Disadvantages
While there are lots of benefits of Online job (งานออนไลน์, term in Thai) and business there is also evidence of some concerns about it, such as:
- Confidentiality is always not taken care of at e-business companies, which causes loss of faith by customers on them.
- As electronic information can be altered and copied easily e-business transactions suffer from greater difficulties of establishing authenticity.
- That’s why encryption, digital certificates, digital signatures are used to make e-business more secure and customer friendly and to stop online frauds and scams.
So, in the contemporary, with Online Businesses, Online Job is also similarly important, it provides jobs to many people. People can get money from this online platform and people also can get their necessity.
Buddy Punch time clock software is a great example of an internet-based solution. While they are solely a cloud based time clock, they have endured great success in the time tracking category by providing their customers with an easy to use and access time keeper app.
