 Good morning, dear student friends. I am Dr. Sachin R. Gengze, Professor and Head Department of Electronics Engineering at Valchan Institute of Technology, Sholapur. Since last few sessions, we are discussing about the fundamentals of electronic commerce. In today's session also, we'll continue further and we'll have more insight about basics of electronic commerce. The learning outcome of this session includes after completing completely watching this video, you will be able to explain what is an electronic business and able to explain different models of electronic business. We know that electronic commerce is a process of buying, selling, transferring, serving or exchanging product, services or information on the computer network, which is mostly internet and the end devices used for all these operations are computers or the digital devices like smart phones, smart mobile phones. Then what is an electronic business? Electronic business is actually extending the scope of electronic commerce and how it extends the scope when we extend the scope of electronic commerce by adding some more activity like serving customer, collaborating with the business partners, conducting e-learning, e-learning can be conducted on net and that is included in e-business and there may be some transaction which are taking place within the same organization, all that can be included into electronic business. So basically the electronic business changes the way organizational business and functional processes are conducted using digital technology. What are the major models of electronic business? Once we know that what is the difference between electronic commerce and electronic business, then we can understand what are the different major models of this electronic business. The electronic business include the transaction between and among corporate employee, then transactions between different functional units which are operational within the same organization or within the same business, then there can be some collaborative commerce. One of the most important and successful model of e-business is the way we are implementing electronic government and lastly there can be consumer to consumer transaction which can also be included into electronic business. Let us have a look at a very first simple model of transactions or electronic commerce between and among corporate employee. We know that in a big organization or in a big business there can be number of sections and there can be number of employees. Now these employees can exchange information with each other on internal network like intranet or the blogs available and then they can, for example, they can post some classified some advertisement, they can buy and sell products services from each other and all this is coming under electronic, it's a part of the electronic business. The second model is electronic commerce or the transaction between among between and amongst unit which are within the same business. As we know the large corporations or large organization companies, business houses they have what is called as the static business unit which is nothing but the different functional areas or functional unit which are existing within the same business house. Now they can transact information amongst each other and that will come under electronic business. Another example, very interesting example of electronic business is that the company itself can own a dealership and then the transaction between this dealership and the company may also be called as electronic business. The basic aim of electronic business within an organization is to improve the internal supply chain operation within an organization also we can locate a large supply chain and we need to manage that supply chain and that management can be done and using some software and that is all coming as a part of internal electronic business. Here I will request you to pause the video for some time and then you can answer this what are the different possible ways of supporting e-business by transacting the information within the same organization but amongst the different functional unit. So you can enlist these possible areas and if possible you can give also an example how exactly this can be done. So please pause the video for some time and try to answer this question. I hope student you have enlisted the different areas and with a given some example also let us move ahead to the next model of electronic business and that is called as the collaborative commerce. As we know today is today we are using internet and digital technology and then different companies which are located within the supply chain management these different companies can collaborate with each other for planning, design, developing of the product, managing the products then there can be some research which is going on and then the information about the research can also be shared by these companies with each other. There can be services offered, there can be innovations, these innovations are shared with each other all this is coming under what is called as the collaborative commerce. What are the benefits of this collaborative commerce when the companies are tying hands with each other the benefit which are coming out include there can be a cost reduction of the overall product there can be and as the cost is being reduced there can be improved or increased revenue and then better customer retention. One more important and which we are witnessing today in India the model is e-government. Now what is the e-government? E-government is nothing but use of internet and electronics commerce to deliver information and services the public services to citizens, business partners and the suppliers of the government and for the people who are working in the public sectors. As we know the government has an existence at a local level, state level and at the central level. Just to quote few of the examples of how successfully the e-government is being implemented in India we can give or we can quote examples like electricity board then there can be BSNL a very popular portal by the government include IRCTC. Then we know that today all municipal services like the paying of my home taxes is available on e-government portal then there can be revenues there can be income tax paying online income tax then paying online VAT and private fund all this will come under the umbrella of e-government. Some more successful services offered by e-government in India include ADHAR card, passport you can apply online and you can do most of the processing online and similarly the election card. One more aspect of e-government which is between the government and the vendor include e-tendering. Lastly we can talk about a consumer to consumer transaction and that include the auctions there can be auction a consumer want to sell something directly to the consumer there can be classified ad there can be some personal services and there can be some support services. To support all these e-business we require electronic payment system and some of the electronic payment system which are popular in India include e-checks, e-credit cards and e-debit card, electronic cash and ballots like Paytm and V-map then there can be internet banking there can be mobile banking and SMS banking and two of the very popular services in India again include RTGS and NEFT we can discuss about this in our next session. So for today's presentation we have references information technology for management by Turban and what we know and the second book is information system by Ralf Stair and George Renon. Thank you my dear student friends for the patient listening thank you.