eBusiness Strategy

eBusiness Strategy
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Business to Business, (B2B) Exchanges also referred to as E-Commerce or e-biz is the interchange of products, information, and services between businesses as opposed to between business and consumers. These marketplaces offer tremendous opportunities and possibilities by allowing sellers and buyers/ customers and suppliers to reduce their operational costs by accessing markets at minimal costs and increase their customer base in the endeavor to cut great in-efficiencies that bedevil the markets today. It is a new market dynamic that has been characterized by numerous failures for those who have ventured. However, it is prospected to be the future of e-commerce (Coupey, 2004). While we are accustomed to the conglomerate of websites from vendors that offer their goods and services to customers online, B2B exchanges involve the businesses in the online marketplace buying and selling goods and services from other enterprises.
B2B exchanges can be categorized into three; consortia, public exchanges and private marketplaces. The consortium is comprised of organizations, governments, companies or individuals with a mutual goal or objective that opt to collaborate and amass their resources for a synergistic betterment of the companies as a whole e.g. in reducing costs, increase productivity and efficiency and obviate redundancy (Turban, 2000). Since the enterprises in a consortium will be bound in sharing of resources, the internet will provide a useful resource in ensuring that the process is fast and efficient thus saving on time. The internet offers a cheap way of sharing of these resources.
Public exchanges are venues of trade, open to interested ...