nature of e commerce

May 29th, 2015
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Aberystwyth University
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INTRODUCTIONToday, businesses have come to realize that their key asset and only sustainable source of competitive advantage lie in their ability to effectively apply, manage, and utilize organizational knowledge. The digital revolution changes the way companies collect, store, and process data on consumer behavior, and the way marketers determine price, and promote or distribute products. The proliferation of information systems and technology enables companies to accumulate huge amounts of customer data and information. Companies that possess or develop the ability to explore useful marketing insights into customer characteristics and their purchase patterns will be duly rewarded. With the development of the Internet and the budding of dot-coms, knowledge management practices and research in e-commerce are becoming increasingly important. In addition to the dot-coms, many "brick-and-mortar" companies are also setting up their e-commerce counterparts in the cyberspace. The changes that are reshaping many businesses in the e-commerce era call for a new paradigm to create, capture, locate, and share knowledge efficiently and effectively. Literature reviewTo remain competitive, organizations must efficiently and effectively create, capture, locate, and share their organization's knowledge and expertise, and have the ability to bring that knowledge to bear on problems and opportunities Newman defined knowledge management as the collection of processes that govern the creati

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