Friday, November 21, 2008

Small to Medium Enterprises, Entrepreneurs & Associations - Commercializing on Electronic Platforms - Some Terms!

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Small to Medium Enterprises, Entrepreneurs & Associations - Commercializing on Electronic Platforms - Some Useful Terminology
WRLyman.com Group MyLyman.Blogspot.com Internationals and ISM2020.com (beta)

As 'socio/business' networks extend commercializing platform ability to home based businesses, entrepreneurs, small to medium enterprises or their associations, understanding components of the electronic or internet economy will prove valuable in extending new business markets.

Think of the electronic or internet economy as having three primary components:

(1) Electronic Commerce (e-Commerce)
Any transaction completed over a computer-mediated network that transfers ownership of, or rights to use, goods or services. The value of goods and services sold on-line. The term “on-line” includes the use of the Internet, Intranet, and Extranet, as well as proprietary information that runs over systems such as Electronic Data Interchanges (EDI) networks.

(2) Electronic business supporting infrastructure
The economic infrastructure that is used to support electronic business processes and conduct electronic commerce transactions. It includes hardware, software, telecommunication networks, support services, and human capital used in electronic business and commerce.

(3) Electronic business processes
Processes that a business organization conducts over a computer-mediated network. Business organizations include any for-profit, governmental, or nonprofit entity. Examples of on-line e-business processes include the following:

* Purchasing
* Selling
* Vendor-managed inventory
* Production management
* Logistics
* Communication and Support Services such as on-line training and recruiting
* Socio/Business Networking