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E-business involves several major components: [2] business intelligence (BI), customer
relationship management (CRM), supply chain management (SCM), enterprise resource
planning (ERP), e-commerce, conducting electronic transactions within the firm, collaboration,
and online activities among businesses.
Business intelligence is about the activities that a small business may undertake to collect, store,
access, and analyze information about its market or competition to help with decision making.
When conducted online, BI is efficient and quick, helping companies to identify noteworthy
trends and make better decisions faster. BI has been described as “the crystal ball of the 21st
century.” [3]
“Your Business Idea: The Quest for Value”, customer relationship management (CRM) refers to “…a customer service approach that
focuses on building long-term and sustainable customer relationships that add value for the
customer and the company.”[4] It is a company-wide strategy that brings together information
from all data sources within an organization (and sometimes from external data sources) to give
one holistic view of each customer in real time. The goal is to reduce costs and increase
profitability while providing customer satisfaction. [5] CRM applications are available for even
the smallest businesses.
Every small business has a supply chain, the network of vendors that provide the raw
components that are needed to make a product or deliver a service. The management of this
network is known as supply chain management (SCM). SCM is about efficiently and effectively
improving the way that a company finds those raw components and then delivers the product or
the service to the customer. [6] SCM applications are now available for small businesses.
Enterprise resource planning (ERP), “Foundations for Small
Business”, is about integrating all departments and functions across a company (sales,
marketing, human resources, finance, accounting, production, engineering, etc.) into a single
computer system that can serve the particular needs of each department. The objective is to
provide information quickly and efficiently to those who need it. Small businesses have many
vendor choices for ERP systems. There are more than thirty vendors in the field, and they are
looking to small and midsize businesses as their primary growth market.
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