Understanding E-Commerce and E-Business Concepts

Answers and Descriptions:

1. Answer: E-commerce refers to online buying and selling of goods and services, while e-business encompasses all business activities conducted online, including internal processes like CRM.
   Description: E-commerce is a subset of e-business. For example, Amazon’s online store is e-commerce, while its use of ICT for inventory and customer management is e-business.

2. Answer: The scope of e-commerce includes online retail, digital payments, online auctions, and internet banking, enabling global reach and 24/7 operations.
   Description: ICT allows businesses to reach customers worldwide, automate transactions, and personalize offerings, expanding market opportunities and operational efficiency.

3. Answer: Key e-business transactions include B2B (business-to-business), B2C (business-to-consumer), C2C (consumer-to-consumer), C2B (consumer-to-business), B2E (business-to-employee), and G2C (government-to-citizen).
   Description: For example, B2B involves supplier contracts (e.g., Alibaba), B2C is retail sales (e.g., Amazon), and C2C is peer-to-peer sales (e.g., eBay), all enabled by ICT platforms.

4. Answer: A virtual storefront is an online platform where businesses display and sell products, benefiting from low overhead costs and global accessibility.
   Description: ICT enables virtual storefronts like Shopify stores to showcase products, process payments, and manage customer interactions, reducing the need for physical stores.

5. Answer: Advantages of e-business include global reach, cost efficiency, and scalability; disadvantages include security risks, technical issues, and lack of personal interaction.
   Description: ICT enables e-business to operate efficiently but requires robust cybersecurity to mitigate risks like data breaches, while the absence of face-to-face interaction may affect customer trust.