In: Categories » Business » Ethics and presentation » The Changing Nature of E Business ~ Ethics and Trust
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E-business has many definitions, but it is essentially "the use of networks and information technology to electronically design, market, buy, sell and deliver products and services worldwide". E-business is in its "infancy" and that it is currently taking its first steps which are "tentative" and "unsure". This is perhaps a little dated in some respects because the e-business rate of change would suggest that it is growing up quickly, albeit with ethics trailing behind somewhat. There is still a great deal of excitement and buzz about e-business, perhaps due to its unregulated nature - "a free marketplace for the exchange of ideas and products" (Maury & Kleiner, 2002).
Also, good media and the 'name' and 'logo' can be valuable for building trust (such as magazine promotions, etc.) wherever there is a third party advising customers - this can be a huge trust indicator. Amazon.com quickly became the leading on-line book retailer because it was referred to by the media and articles were written on its success. Also, successful on-line businesses are those that were once traditional businesses; that is, they have already built the business and are now transferring to the new business environment - these companies have a head start in terms of consumer/ customer trust.
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