E-business system Essay Example | Topics and Well Written Essays - 4000 words

E-business system - Essay Example On a broad analysis, the effect of e-commerce in people’s life has not been only in one dimension but through a wide spectrum of use, internet has been widely adopted for use in matters of shopping and transacting almost all bank procedures. Online shopping for various goods as well as services have not left consumer goods and services unattended to and according to the ‘Nielsen Global Consumer Report June 2010’ shopping for goods and services have had great evolution in the onset of online shopping (The Nielsen Company, 2010, p. 2). The advent of online stores through which sellers displays their goods and services and through which consumers shop for their consumer goods characterizes today’s commerce industry. Debates have however shaped the discussions about the topic of e banking; why the modern day banking institutions are adopting the e-commerce practices through adoption of such technologies as the internet for performing the transactions as against the traditional physical banking practices. Supporters of the practice of physical/manual banking procedures (who often are the older generation (Madden, 2010, p. 2), and who are opposed to the electronic banking practices, reasons that banking physically is easy and entails little logistics. It only gives one opportunities to conduct the banking procedures physically/manually where one-one interactions are preferred to the electronic practices. On the other hand, the supporters of the online banking practices affirm that the practice is more convenient than the physical banking in that one would have access to banking services such as withdrawals, transfers as well as transacting other complex banking transactions without physically visiting a banking facility (Hazel and Raphael, 2001, p. 4). The decisions to offer the online banking services by banking institutions may therefore stem from various reasons such as the convenience to customers, the good returns in use of internet fo r the procedures (which reduces the human labor costs incurred) and the general advancement of technology as is widely acknowledged in the current era. However, the evaluation of the advantages as well as associated factors that influence the adoption of online banking methods by different banking institutions takes to cognition that these services adopted vary from one region to another and from one country to another (Diniz, Porto and Adachi, 2004, p. 41-42). Institutional frameworks and culture within countries and the governments may have influence on the choice of methods of banking practices such as the internet banking. For instance, among some cultures, technological advancement is not appreciated and hence the effect to adoption of online practices such as banking would be unfavorable (Tan and Teo, 2000, p. 1-4). 2.0 DISCUSSION There has been noted evolution within the practice as necessitated by the