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The Internet and globalization have redefined the way business gets done - erasing traditional boundaries of
time, distance and geography to create new virtual communities of customers and
suppliers, with new demands for products and services. The Internet will transform businesses and industries of the 21st century just like what electricity has done for industrial production in the 20th
century. E-business as a source of sustainable competitive advantage - a new business model that focuses on connectivity with customers and
partners, and transforms business relationships as we know them today. E-business is about business harnessing the power of the Internet to create sustainable new business models to drive new
opportunities. Thus, e-business often changes the way business gets done and replaces traditional way of doing
business. E-business shifts the power of buying to the consumer. Today, consumers can shop online for the best price or
bargain, and customer loyalty in this new market space created by the Internet is relatively thin as he or she can shift loyalty with just a mouse
click.
from: © PricewaterhouseCoopers
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see also:
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