E-commerce has passed through a number of stages in the minds of
most readers of the daily press. Initially it was the province of
the specialist and considered almost irrelevant to the needs and
activities of everyday life - companies looking for venture capital
in this area had little if any chance of obtaining sufficient funds
from the rather conservative investors who provided the only source
of start-up capital. Then came the dot. com boom -and suddenly
e-commerce was the most exciting topic possible Venture capital was
available from every possible source and almost any company with a
. com in its name could be assured of instant funding on request.
This boom was, inevitably, followed by the dot. com bust and the
press wamed that the days of e-commerce were gone, perhaps never to
return. This apparently confusing 'stages of growth' model is in
reality nothing ofthe sort. E-commerce is simply the logical
outcome of combining computers with tele communications networks.
The astonishing changes which a global economy has brought with it
are reflected in the changes to the way we do business which are
increasingly synonymous with e-commerce. Indeed, the term
e-commerce itself is coming to mean only the transaction-based
component of e-business-'any process that a business organisation
conducts over a computer-mediated network' as Thomas Mesenbourg
ofthe U. S. Census Bureau said in 1999."
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