Certified Professional Contract Manager (CPCM) Practice Exam

Electronic commerce, commonly known as e-commerce, fundamentally involves using the internet to facilitate automated business transactions. This includes activities such as buying and selling products and services online, processing payments electronically, and managing supply chains digitally. The reliance on internet technologies enables businesses to reach a broader customer base, streamline operations, and improve efficiency in a way that manual processes cannot achieve.

The essence of e-commerce lies in its automation and connectivity, where transactions can occur without the traditional limitations of physical presence, which distinguishes it from manual transaction processes or face-to-face negotiations. Additionally, the scope of e-commerce extends beyond mere transaction execution; it encompasses everything from online marketing to customer service, all conducted within a digital framework. Conducting market research offline also falls outside the realm of e-commerce, as it pertains to traditional methodologies not involving digital transactions.