 Good morning dear student, I am Dr. Sachin R. Gengze, Professor and Head, Department of Electronics Engineering at Valtran Institute of Technology, Swilapur. In today's session, we are going to have a brief introduction to what is called as an electronic commerce. The learning outcomes for today's session are, after watching this video, you student will able to explain what is electronic commerce. You can explain also the scope of electronic commerce and can compare traditional commerce and e-commerce or electronic commerce. Before understanding what is electronic commerce or popularly called as e-commerce, first let us understand what is a commerce. Commerce is nothing but exchange of goods or services for money or in kind usually on a scale which is large and require transportation from place to place and this place to place may be across the city or a state or across the national boundaries may also be. In traditional commerce which we as a humankind is undergoing since last so many decades or centuries in this traditional commerce most of the transaction processing is manual. Then the accessibility of buying and selling is limited for it is for the limited time we can go and shop only when the shop is open. Then the customer interaction the interaction of the customer and vendor is mostly face to face and the scope of the commerce is limited to restricted geographical area. That is what is about a traditional commerce. Then what is electronic commerce or e-commerce. Now e-commerce is a process of buying, selling, transferring, serving or exchanging. So there are many process involved it involves buying, selling, transferring and serving but what products, services or information and how it is done? It is done through computer network including internet and then the devices used for this are either computer or digital devices like smart phone. So that is what is called as an e-commerce e-commerce is can also be defined as conducting business communication and transaction or network through computers or the digital devices. So the important aspect of e-commerce is that first of all it is conducted over a network like internet and secondly it involves computer and smart digital devices as the end devices used. There is one more term which is used very commonly and popularly is called as an e-business. Actually people are using these two words e-commerce and e-business very loosely but e-business is a bit different than the e-commerce. E-business or electronic business refers to the broader definition of e-commerce when we extend the scope of e-commerce by including some of the aspect like serving customer, collaborating with the business partner, conducting e-learning and conducting electronic transaction within an organization then that can be called as an e-business. In e-business it is not necessary that there is always a money transaction there can be information transaction there can be e-learning and then all this is coming under the umbrella of e-business. It means that the changes in organization business and function processes with the application of digital technology that can also be called as an e-business. Then coming back to e-commerce what is the extent of e-commerce basically when we are calling when we are talking about the e-commerce the product being the product being sold or bought is either physical or a digital the process of buying the product may be physical or may be digital and the delivery of the product may be in a physical form or a digital form. So based upon what type of product is what type of process being followed and how it is being delivered there can be number of combinations as far as thus e-commerce is concerned. In traditional business which we are doing since long the all these are physical the product is physical the process is physical and we are actually going to the shop and buying it so delivery is also physical and this kind of traditional business or traditional organizations are called as the brick and mortar organization. Then in case of e-commerce what we are trying to do is we are trying to digitize any of or all of these aspect like the product or service may be digital or the process may be digital or the delivery may be digital then that is called as an e-commerce. Now if all are digitized then it is called as the pure electronic commerce otherwise it is called as a partial electronic commerce. Then companies which are involved only in e-commerce then all the aspects they are using all the aspect as purely digital or electronic then these kind of organizations are called as the virtual organization. But as we know in today's world there it is not possible to digitize all the aspect like the product the delivery and the transaction then in that case some of the activities are done electronically and some of the activities are done physically. So this kind of hybrid model is actually called as the click and mortar organization if you remember the complete manual model is called as the brick and mortar organization that brick is now replaced by the click so it indicates a hybrid model of e-commerce. The basic idea of electronic commerce is to automate or digitize as many processes as possible. What are the typical applications of e-commerce we are surrounded by the e-commerce every day we are doing we are using some or other applications of e-commerce but let us list some of the popular applications of e-commerce. The first one is of course the online marketing and purchasing we are now very much exposed to Amazon and Flipkart and Snapdill. The second one is the retail and wholesale so there can be a retail and wholesale business using e-commerce finance is again a greater domain where e-commerce is helping people manufacturing then there can be online auction one more one more popular application again which we are using is e-banking then there can be online publishing the books are being published online instead of of course along with the print copy the books are now available in electronic form Kindle is one of the best application for that and that is called as an online publication and lastly there is an online booking and e-ticketing we know that we can now book our ticket the railway ticket or flight ticket using IRCTC then we can we can we can we can have the movie tickets also online using applications like book my show so all are the typical applications of electronic commerce. So let us pause the video over here and please try to differentiate between the two business model that we have discussed is one is called as the brick and mortar and other one is called as a click and mortar organization so dear student please pause the video for some time and think of this answer what is the difference between brick and mortar and click and mortar organization and you can give an example also what what is an example of brick and mortar organization and what are the different click and mortar organization that you can see in today's world I think you are now ready with the answer of the difference between brick and mortar and click and mortar organization so to summarize let us have a quick look at the comparison between the traditional commerce and e-commerce as far as the processing of transaction is concerned in case of traditional commerce the processing is manual in case of e-commerce it is some of the process or all of the process is automated most important time is that the traditional commerce is available only for the limited time when the shop is open you can go and shop however the e-commerce is available 24 by 7 by 365 you can log in to Amazon site and you can buy whenever you want to buy customer interaction in case of traditional commerce the interaction between the vendor and customer is face-to-face in case of e-commerce the interaction we do not see the actual vendor but the interaction is through screen-to-face the scope of business as far as the traditional commerce is concerned is restricted to a particular geographical area you can go you can roam around the city and you can do your shopping but in case of e-commerce it is worldwide reach even I can I if I want to buy something from other nations also or other countries also I can do that using e-commerce the resource the resource focus as far as the traditional commerce is concerned is on the supply side and for e-commerce it is on the demand side the most important aspect of e-commerce which we like all is that there is a lot of unified information available as far as the e-commerce is concerned for example if I want to I can go on to the Amazon and Flipkart and I can compare many models of suppose I want to buy a pair of shoes and then I can compare many models of pair of the pair of shoes on e-commerce as far as the traditional commerce is concerned no such unified unified or uniform platform is available the information available is also less and lastly as far as the marketing is concerned in case of traditional commerce it is only one way marketing in case of e-marketing or e-commerce there can be multiple way of the marketing so dear student in today's lecture we had a brief introduction to the e-commerce and as we know the growth of e-commerce is catching up and this is just this is one of the graph which I want to show how e-commerce has progressed or how there is a growth of e-commerce on the x-axis you can see that there is a year you can see that there year 2019 also and then there can be expectation or forecasting how the e-commerce is going to grow in next couple of years and on y-axis you can see that worldwide sale in US billion dollars and you can see that the there is a tremendous growth of the e-commerce and this is this is this is what is attracting many and many people towards the e-commerce so the references for the today's sessions are two books one is information technology for management by turbine what we know and the second one is information system by Ralph stair thank you dear student for patient listening thank you