An accurate way to define this means of conducting business is to refer to the dictionary definition:

E-business (electronic business), is derived from such terms as "e-mail" and "e-commerce" and is closely linked to the service offer of ICT, and is the business of conducting business via the internet, or as we know it “World Wide Web”.
Not only buying and selling but also servicing customers and collaborating with business partners. Many people now understand the principles of e-commerce, but don't realize the distinction between that and e-business.
E-commerce is the process of advertising and selling your products and services via the Internet. You simply would not expect to operate a successful global business or company simply by just following the principles of advertising and selling.
All businesses understand that customers are difficult to acquire in the first place and it can be very difficult to keep those customers on a long-term basis.
Businesses now need to develop a strategy for e-business, to work as a true harmonious partnership, able to share access across a number of service, data, and infrastructure elements, to aid true customer relationship management, and trading standards for partnerships.