E-business is the use of internet technology to work and empower business processes e-commerce, and enterprise collaboration within a company and with its customer, suppliers and other stakeholders. Business values are the core principles or standards that guide the way you do business. It is the process of determining the economic value of a business or company.
Companies creating business value from e-business in the following ways:
- E-business helps to reengineer internal business process: Business re-engineering is a fundamental rethinking and radical redesign of business process to achieve dramatic improvement in cost, quality, speed and service, reduction of lead time for achieving specific objectives by competing with competitors. Ex: Implementation of ERP.
- E-business helps to implement e-commerce: E-business plays a vital role in implementing e-commerce by giving the opportunity of using a variety of computer network in buying, selling, marketing, and servicing the products and information.
- E-business helps to promote enterprise collaboration: E-business promotes enterprise collaboration, coordination and communication among the members of the networked team of the workgroup.