Hi, need to submit a 2000 words essay on the topic Business models group project.This argument indicates that electronic commerce emerged a long time ago, but it was known to only few industries. This

Hi, need to submit a 2000 words essay on the topic Business models group project.

This argument indicates that electronic commerce emerged a long time ago, but it was known to only few industries. This also means that electronic commerce has spread around the world in recent times because of the development of the internet through the World Wide Web (Funk 10). Therefore, organizations should embrace the internet because it is the most significant platform that enables them to conduct business electronically between themselves and consumers and also between them and other businesses.

According to the author, the development of the internet enabled electronic commerce to grow by 1000% annually in the years between 1996 and 1997 (Timmers 1). This growth rate is so huge and it indicates that the internet has had a massive effect on the ways in which organizations conduct their businesses. The article also argues that the research that was conducted by Data monitor in 1997 indicated that by the year 2002, around 630,000 organizations in the United States and other 245,000 in the European Union would be conducting all of their functions electronically (Timmers 1). This means that if these statistics were expected to take effect in 2000, in the current times, the organizations that conduct business electronically exceed this number both in the United States and in the European Union. The author has, however, not indicated the statistics for other parts of the world such as Asia, Africa, and Australia. These regions also have organizations that conduct their functions online, and it means that the author did not research on them efficiently.

In this section of the article, the author classifies various business models into groups. Timmers begins this section by defining a business model as a design of the flow of services and products in an organization (2). The design also explains the roles of the actors who take part in the flow of the goods and services. According to the author, the