7 E-business
The Internet has radically redefined commerce. It has made it possible for some vendors to eliminate the "middlemen" such as distributors and retailers from their "value chain" to deal directly with customers, a process known as disintermediation.. In addition the Internet and the World Wide Web have leveled the consumer playing field making it possible for many people to become knowledgeable of prices for products across a huge number of vendors. Three major internet business models have emerged. Business-to-consumer (B2C)encompasses online retail storefronts and digital businesses. Business-to-business (B2B) includes information exchanges and industry-specific "hubs" serving commercial customers. Consumer-to-consumer (C2C) web sites support online auctions and the development of online communities of individuals.