Introduction

Abstract

The emergence of electronic commerce as a distinct area in business is seen by many researchers and executives as the most important commercial trend of our time. With the rapid adoption of networking technology by companies, the world is witnessing amazing changes in the way that business is done. Electronic commerce has been redefining all facets of business in a revolutionary manner It is crucial to the effective functioning of organizations, especially in a world where companies have to deal with suppliers, customers, partners and their own units distributed across the world. The new business reality created by electronic commerce is no longer a projected vision of technocrats. It is a new “world order”, with millions of dollars exchanged between parties daily. Electronic commerce is already playing a significant role in determining corporate strategy and in creating value. It is also already playing an important role in changing society as we know it today.