Authors: Becky P.Y. Loo (The University of Hong Kong, Pokfulam, Hong Kong)
Abstract: The development of e-technologies, like all other major technological advancements in history, has motivated capitalists to harness new technological capabilities and potentials for conducting business and reaping commercial gains. “E-commerce” in this book broadly refers to the use of e-technologies to facilitate and to conduct commercial transactions in a business-to-business (B to B or B2B) or a business-to-consumers (B to C or B2C) manner, as depicted in Figure 4.1. E-commerce allows people to be freed from the marketplace. There is a “virtual global marketplace” regardless of where you live. It can be 7 days a week and 24 hours a day. This type of continuous operation is sometimes described as 24/7. Commercial transactions are mostly monetary transactions but they may simply involve the exchange of goods or obligations. They can be conducted on many different e-platforms, not confined to the Internet. Cable televisions and electronic kiosks are some notable examples.