E-commerce Essay

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E-commerce Essay
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  • University/College:
    University of Arkansas System

  • Type of paper: Thesis/Dissertation Chapter

  • Words: 2470

  • Pages: 10

E-commerce

Introduction

E-commerce means conducting business online. Selling goods, in the traditional sense, is possible to do electronically because of certain software programs that run the main functions of an e-commerce Web site, including product display, online ordering, and inventory management. The software resides on a commerce server and works in conjunction with online payment systems to process payments. Since these servers and data lines make up the backbone of the Internet, in a broad sense, e-commerce means doing business over interconnected networks.

Here are a few examples of e-commerce:

accepting credit cards for commercial online sales
generating online advertising revenue
trading stock in an online brokerage account
driving information through a company via its intranet
driving manufacturing and distribution through a value chain with partners on an extranet selling to consumers on a pay-per-download basis, through a Web site Globalization of production and increasing competition spurs greater business use of innovative information systems. As globalization extends its reach over cities and regions, the positions of those places within the emerging global paradigms of regional economies is changing. Only those regions and cities that can mobilize assets for local advantage would succeed.

E-commerce is a burning issue of today because the global business is moving towards a virtual business world. Everything is done here virtually. The transaction is done within seconds not being present physically. People now want hassle-free shopping. They are indifferent to go to the market for purchasing the goods or taking the services. All they want one stop service. All these things can be done only with the help of e-commerce. So, the scope for the implementation of e-commerce is ever on the increase in Bangladesh.

The main objective of preparing this paper is to identify the feasibility of the implementation of e-commerce in Bangladesh and the challenges behind it.

Description:
The feasibility analysis of the implementation of e-commerce in Bangladesh is a matter of detailed anatomy. If we want the actual scenario regarding the issue, at first, we will have to go for the analysis of both of the sides- arguments for and arguments against in detail. Here, we would like to make a comparative explanation of the feasibility to implement e-commerce in Bangladesh.

Arguments For:
There are several arguments for the feasibility of the implementation of e-commerce in Bangladesh. These are mentioned below:

Cost effective:
E-commerce is the process of buying and selling of goods or services over the internet. If any organization can once portrait the e-commerce based website then it has to spend the maintenance cost only. So, it can be feasible to implement e-commerce in Bangladesh.

Technical know-how:
Today some institutions are promoting e-commerce in Bangladesh. There are some private or public institutions providing the website development courses and some of these institutions are promoting the e-commerce based website with special importance. So, it can be possible to implement e-commerce in Bangladesh.

Infra-structure:
E-commerce needs a special infra-structure to be implemented or practiced. As we are moving towards the global market sharing it can be possible to implement e-commerce if we restructure or modify our existing organizational structure.

M-commerce aspects:
There is enough potentiality for our m-commerce sector to be developed. Especially, 3rd Generation network is coming within this November. So, if we can ensure the handsets with specification of GSM 2000+ Bandwidth then we can definitely think of the feasibility of e-commerce in Bangladesh as well.

Reducing digital divide gap:
The mass people are currently experiencing an acute digital divide gap. If we can ensure the digital Bangladesh through reducing this gap we can definitely plan for the implementation of e-commerce in our country.

Reduced pricing:
As the e-commerce involves internet marketing, the physical marketing cost is reduced considerably. So, the seller can provide the goods and services at a minimum price. So, the feasibility of implementing the e-commerce practice in Bangladesh is quite feasible.

Comprehensive education system:
The education system in our country is on a changing trend now the time being. Both the public and private universities are now enlisting the course related to the e-commerce sector. So, after some days we can implement e-commerce in Bangladesh as well.

Transport facilities:
Though we have crisis in the transport sector, the sector is highly a potential one. The present govt. of Bangladesh is planning for some projects for the development of transport sector. If it happens, the physical delivery of the goods and services will become easier according to the prior order via internet. So, in that sense, the implementation of e-commerce can be considered feasible in Bangladesh.

Increasing market place:
The participation of the mass people in the modern amenities is gradually increasing. As a result, the market place for the e-commerce based organization is ever on the increase. In the circumstances, the implementation of e-commerce is quite feasible.

Easier transaction process:
The people always want simplified lifestyle. E-commerce can make it happen. So, the implementation of e-commerce will be encouraged by most of the
people. In that sense, the implication of e-commerce in Bangladesh will be encouraged.

Modern payment systems:
In day to day life we come across some modern payment systems like different types of cards. It is a positive sign for the implementation of e-commerce in Bangladesh. So, this is high time we planned for e-commerce implementation.

Less complexity of cyber law:
The cyber law involves comparatively less complexity in Bangladesh. So, there is respectively less implications regarding law provisions to implement e-commerce in Bangladesh.

New entrepreneurship:
In present times, it is observed that the percentage of the new initiators is ever on the increase. As the e-commerce implementation needs high initiatives, it is feasible to implement the e-commerce in Bangladesh.

Increasing number of users:
The number of internet user is increasing day by day. So, there is enough scope for the implementation of e-commerce in Bangladesh.

Arguments Against:
There are several arguments against the feasibility of the implementation of e-commerce in Bangladesh. These are mentioned below:

Cost orientation:
The implementation of e-commerce is cost oriented to some extent. The e-commerce demands for the high involvement of technological infra-structure. If an organization wants to implement e-commerce in the operational fields, it has to develop or modify the overall infra-structure having an alignment with technological use. In the context of Bangladesh the implementation of e-commerce is almost next to impossible as the organizations are not financially that much solvent.

Lack of technical know-how:
The e-commerce involves a high volume of technological use in the operational fields. The maintenance of the e-commerce systems is also the matter of high technological know-how oriented personnel involvement. But there is an unavailability of such personnel supply in Bangladesh. As it is not still a part of our traditional educational system, it will take a long time to fetch such intellectual personnel.

Poor Infra-structure:
If we try to implement the e-commerce in the every sphere of our day to day life, at first, we will have to develop the overall infra-structure of the country, ensure the education in the fullest sense. Other than the implementation of the e-commerce is not possible in Bangladesh.

Lack of trust:
In case of e-commerce, the payment of the goods is paid through credit card number or bank account number at first. Then the seller ensures the delivery of the goods or services to the buyer. But as per the context of Bangladesh, the buyer can hardly have the full faith on such types of advance payment system. So, this is also a constraint for e-commerce implementation in Bangladesh.

Communication problem:
The e-commerce depends on the communication process to some extent. But the communication system of Bangladesh is not that much advanced as the infrastructure of the communication system is poorly furnished. If a buyer purchases the products and waits for the physical delivery of that product it is influenced by the communication system. So, before implementing the e-commerce in Bangladesh, at first, we will have to concentrate on the development of the communication system.

Digital divide gap:
Bangladesh is a developing country. In this country the mass people have little access to the technological instruments rather than the poverty
stricken problems. Some people here are using the modern amenities. But the majority can not have the minimum requirements. As a result, the physical divide is ever on the rise.

Traditional education system:
Our education system is still traditional. Here the aspects of e-commerce are hardly encouraged. The students of our country can barely research on it. So, the expansion or implementation of e-commerce seems to be impractical.

Insufficient transport facilities:
E-commerce commerce involves the physical transport while ensuring the physical delivery of the product. The transport facility in our country is still traditional and underdeveloped to some extent. So, we can not think of the implementation of e-commerce in our country to the date.

Digital goods vs. Physical goods:
E-commerce is feasible for the buying and selling of digital goods only. The features of the digital goods can be displayed in the e-commerce based websites. There is less option to test the physical goods before purchasing but in case of physical goods and the perishable goods, there is lots of scope for mismatch of the real goods and the goods displayed in the websites. So, the implementation of the e-commerce in our country totally depends on the trust of our people.

Taxation:
The implementation of e-commerce is encouraged in the aspect of Bangladesh but the govt. will be the ultimate repentant of the issue because the process of buying and selling of goods via internet involves lots of scope for tax escape. If e-commerce is implemented in Bangladesh the law regarding the issue is to be introduced first which is not possible over night. The govt. sector needs also to involve those personnel who have that much technical know-how to minimize the escapes.

Limited market place:
There is a very few people who have the access to the modern technologies and amenities. They can hardly use internet frequently. Most of the people, here, can rarely use internet and e-commerce based websites. So, the e-commerce sector has limited market place. If e-commerce is implemented in Bangladesh, the limitations will be much more than the competitive advantages.

Delivery after confirmation of payment:
E-commerce emphasizes on the paid delivery. But in Bangladesh we people are not accustomed to this system. We want the products or goods to be delivered before the payment and the settlement. As a result, the psychology of our people does not support e-commerce system to some extent. We know the tradition of a nation cannot easily be transformed overnight. So, it is not feasible to implement e-commerce in a third world country like Bangladesh.

Traditional payment systems:
The payment system in our country is still traditional. The use of debit card or credit card or visa card is still relatively low. In fact, most of the people do not even understand the functionality of these payment methods. In this situation, the implementation of e-commerce is not only impractical but also making a castle in the air.

M-commerce limitations:
E-commerce is dependent on m-commerce to some extent. We cannot think of e-commerce without efficient m-commerce. But m-commerce is still not that much developed in our country. If we try to implement e-commerce in Bangladesh, at first, we will have to go for large screen mobile based m-commerce. Large screen based m-commerce can support e-commerce as the e-commerce based websites are of high resolution. But most of us cannot afford such type of large screen mobile like I-phone of Apple or HTC costing approximately 40000 taka. So, it is not feasible to think of implementing e-commerce in Bangladeshi perspective.

Limited implementation of cyber law:
In Bangladesh, there are law regarding the cyber crime but it is not sufficient to protect the cyber crime. Even, the provisions present, are not thoroughly enforced. But the e-commerce system involves virtual transactions in various phases. These transactions involve high hacking risks as well. If we think about the implementation of e-commerce before introducing the proper provisions and without enforcing those provisions, it will not be that much fruitful. The parties associated with it will be in monetary risks and most of them will not get encouraged to go for e-commerce.

Lack of entrepreneurship:
As the e-commerce practices is of very recent times, the sector demands for new entrepreneurship. But there is no such encouraging institution in Bangladesh that can lead the new generation or new entrepreneurship to take initiative to march on this sector.

Limited number of users:
The e-commerce depends mostly on the proactive interaction of the buyer and the seller of the goods or services over the internet. But the number of internet user is still relatively low in our country. So, there is a question mark to the feasibility of implementing e-commerce in Bangladesh.

Conclusion:
The government can initiate pilot projects and programs for capability-building, training and e-commerce support services, such as Web design. In general, government initiatives should be in line with current efforts in the foregoing areas of concern. Coordination with development cooperation agencies is important to avoid any duplication of initiatives and efforts. But there are several reasons that can challenge the feasibility of the e-commerce implementation in Bangladesh. The challenges would really be hard nut to crack.

The End

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E-Commerce Essay

Facebooktwittergoogle_plusredditpinterestlinkedinmail
E-Commerce Essay
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  • University/College:
    University of Chicago

  • Type of paper: Thesis/Dissertation Chapter

  • Words: 3575

  • Pages: 14

E-Commerce

Q1) E-commerce is unique from other channels of business and it is a whole new revolution in the way how companies operate (Turban, King, Lee & Viehland, (2006). The Internet is unlike any other sales channel. The Internet allows companies to distribute information at the speed of light and at almost zero cost, to reach customers with both reach and range, to introduce new and innovative business models, to reduce costs and generate savings, and many, many more differences. However, the Internet also creates more bargaining power for the customer, creates a more perfect information market to the customer’s benefit, and makes it easier for competitors to invade a company’s marketplace.

So the first, and biggest, difference in e-business planning is the need for the entrepreneur to recognize the different and unique capabilities of the Internet and begin to think differently, and creatively, about the opportunities and problems the Internet presents (Turban, King, Lee & Viehland, (2006). The E-commerce has a global presence. Being on the Web means the business will be visible to an international audience. This introduces complexity for payment options (e.g., show prices in US dollars or local currency?), distribution channels, Web site design, and the logistics of product returns. Web storefronts never close. Being on the Web means the store will be open 24 hours a day, 7 days a week.

The e-business plan must account for this difference in Web hosting and customer service requirements. E-commerce is conducted at Internet speed. This means Web site deployment must be planned in months, or even weeks, not years. First-mover advantage will be lost if companies are unable to move at Internet speed, and business plan readers will know that. The Web allows greater opportunities for personalization of content, one-to-one marketing, and customer self-service. Because the Web allows these and other customer service features, the competitors can make them part of their e-commerce strategy, so the company must too. The Internet intensifies customer relationship management.

Business has always been about “getting close to the customer” but that was in a world without the potential of personalization, one-on-one marketing, data mining, concurrent reach and range, and customer relationship management. The Internet, and the customer-oriented applications that the Internet makes possible, means that every e-business must be totally focused on the customer. This belief is evident throughout this tutorial with requirements for clearly defining the value proposition the business offers to the customer, identify target markets, and a competitor analysis from a customer point-of-view (Turban, King, Lee & Viehland, (2006).

Q2) Data mining has become the top priority of many IS managers. What are the advantages that data mining has promised to deliver? The answer to this question will not be forthcoming until all the potential applications of data mining have been thoroughly explored. At this early stage, the following advantages of data mining are widely acknowledged (Chen & Sakaguchi, 2002):

1. Provide better information to achieve competitive edge. This advantage is the primary motivation for data mining and has been repeatedly mentioned in various articles. Data mining has a powerful analytical ability to generate information, which allows an organization to better understand itself, its customers, and the marketplace it competes in. When used as a marketing tool, data mining often results in sharper competitive edge, an evidence-based selling approach, a customer-oriented marketing plan, shorter selling cycles, and reduced operational costs.

2. Add value to a data warehouse. A data warehouse by itself is just a large repository of unstructured data, and data mining is the process of analyzing the data and transforming it into useful information. Organizations have experienced a payback of 10 to 70 times their data warehouse investment after data mining components are added.

3. Solve research bottleneck. In many social science and business situations, conducting real experiments is almost impossible. Data mining is able to provide these research agendas with a more limited set of working hypotheses for further investigation based on large, unstructured data sets.

4. Increase operating efficiency. Data mining’s ability to quickly organize and analyze a large pool of data has dramatically increased workplace efficiency. It allows users to create complex financial statement in minutes compared with weeks by traditional methods.

5. Provide flexibility in using data. With data mining, users have gained control over the data. Instead of letting the system push the data, users are now able to pull the data they need. Users can let their imagination run and manipulate data in various ways to answer their questions. The new easy interface of data mining tools and the client/server technology has made the information directly accessible by individual users.

6. Reduce operating costs. Modern data mining tools are made of highly sophisticated hardware and software components. They allow these tools to analyze massive data sets efficiently with reduced operating costs. The case of Bank of America has shown that after the bank’s implementation of the state-of-the-art data mining technology, the cost per query has been reduced from $2,430 to merely $24.

7. Ready-to-use. Unlike traditional data analysis methods, data mining hardly requires preprocessing of data prior to analysis. It can use a mixture of numeric, categorical, and date data, and can tolerate missing and noisy data. The results are in the form of ready-to-use business rules with almost no statistical expertise and guesswork needed.  Despite the many advantages, data mining is not without its disadvantages. Organizations will face these problems in their deployment of data mining technology. Understanding them helps IS managers to have a realistic expectation and prepare for potential adverse outcomes (Chen & Sakaguchi, 2002).

1. No definitive answer. Data mining yields useful insights and clues but no definitive answers. The definitive answers need to be achieved through much more rigorous scientific experimentation. Experiences from Wall Street have shown that this technology may not outperform traditional methods. Therefore, users should have a realistic expectation of the results of data mining.
2. High cost. The cost of implementing data mining is very high; thus, it may not be appropriate in some business environments.
3. Complex and lengthy project. Experience from data mining system developers has shown that it takes a long time to get the project right. Developers suggest focusing on incremental development and benefits.
4. Privacy. The detailed data about individuals used in data mining might involve a violation of privacy. This problem worsens when the World Wide Web is involved, because detailed personal information is easily accessible and can fall into wrong hands.
5. High knowledge requirement of user. Despite its increasingly simple interface and automation of the thinking processes, data mining is more suitable for people with statistical, operation research, and management science backgrounds. The ease of use becomes a critical factor for attracting more businesses to invest in this technology.
6. Unmanageable database. Many authors have suggested that organizations must increase the size of their databases tremendously in order to do data mining. However, some are concerned that this will result in unmanageable and unnecessary databases.
7. Wrong information from errors in data. The massive data used in data mining inevitably contains mistakes caused by human errors. Information generated should be used with caution to avoid lawsuits in areas such as hiring. Experts suggest using only relevant information for mining to reduce such risks.
Q3) Rationalizing the supply base means utilizing both the right number of suppliers and the right suppliers. This requires you to categorize your spend and identify current and potential suppliers for each category (Dominick, 2006).

After identifying your categories and suppliers, you have five options for the supply base in each category:

Reduce It – Many think of this as the only rationalization option, but it’s not. This option works best when you already have enough qualified suppliers and are sure that no others can offer a cost, quality, or other advantage (Dominick, 2006). You just consolidate spend with a subset of currently-used suppliers. But don’t assume that you’re already using the best suppliers. With global sourcing, buyers can find top vendors across the planet.

Increase It – Despite common teachings, fewer suppliers isn’t always better. By blindly following the supplier reduction trend, you might award business in one category to a supplier who performs well in another category. This strategy is flawed when the supplier is not as competent in the second category. In many cases, it is better to have two suppliers who can deliver great performance in two categories than one supplier who performs well in one category but poorly in the other. When analyzing your categorized spend, find suppliers who appear across categories. Ask if they are truly the best choice in each category and what the measurable advantages are to using them across categories.

Maintain It – If you’ve done a good job, there is no need to change. Period.

Keep The Size, Change The Mix – Many organizations set “number-of-suppliers goals” and measure success simply by the numbers. But the quality of suppliers is more important than the quantity of suppliers. Even if you have the right number of suppliers, you may need to replace the poor performers with good ones (Dominick, 2006).

Expand Then Reduce – Sometimes, you are under pressure to reduce the supply base. But the suppliers you are currently using are so inadequate that you just can’t imagine depending more heavily on any of them. So, you may have to introduce more suppliers to identify the best ones in the market before you start ousting the poor performers. But you also need to make sure you’re not trading one problem for another. New suppliers must prove themselves, so you add them to the list to allow more choice for a future supplier reduction. There is nothing wrong with this plan. Just communicate it as a two-step approach to good supply base rationalization (Dominick, 2006).

Q4) A smart card resembles a credit card in size and shape, but inside it is completely different. First of all, it has an inside — a normal credit card is a simple piece of plastic. The inside of a smart card usually contains an embedded microprocessor. The microprocessor is under a gold contact pad on one side of the card. Think of the microprocessor as replacing the usual magnetic stripe on a credit card or debit card (How Stuff Works 2006).

Smart cards are much more popular in Europe than in the United States. In Europe, the health insurance and banking industries use smart cards extensively. Every German citizen has a smart card for health insurance. Even though smart cards have been around in their modern form for at least a decade, they are just starting to take off in the United States (How Stuff Works 2006).

Magnetic stripe technology remains in wide use in the United States. However, the data on the stripe can easily be read, written, deleted or changed with off-the-shelf equipment. Therefore, the stripe is really not the best place to store sensitive information. To protect the consumer, businesses in the U.S. have invested in extensive online mainframe-based computer networks for verification and processing. In Europe, such an infrastructure did not develop — instead, the card carries the intelligence.

The microprocessor on the smart card is there for security (How Stuff Works 2006). The host computer and card reader actually “talk” to the microprocessor. The microprocessor enforces access to the data on the card. If the host computer read and wrote the smart card’s random access memory (RAM), it would be no different than a diskette.  Smarts cards may have up to 8 kilobytes of RAM, 346 kilobytes of ROM, 256 kilobytes of programmable ROM, and a 16-bit microprocessor. The smart card uses a serial interface and receives its power from external sources like a card reader. The processor uses a limited instruction set for applications such as cryptography.

The most common smart card applications are (How Stuff Works 2006):
• Credit cards
• Electronic cash
• Computer security systems
• Wireless communication
• Loyalty systems (like frequent flyer points)
• Banking
• Satellite TV
• Government identification

Smart cards can be used with a smart-card reader attachment to a personal computer to authenticate a user. Web browsers also can use smart card technology to supplement Secure Sockets Layer (SSL) for improved security of Internet transactions. Visa’s Smart Card FAQ shows how online purchases work using a smart card and a PC equipped with a smart-card reader. Smart-card readers can also be found in mobile phones and vending machines (How Stuff Works 2006).

Q5) To build or not to build a website for E-Commerce is a question which was relevant a few years before. In the competitive world of today when competition is intense and companies are fighting for whatever presence they can acquire, E-commerce is becoming a necessity. The businesses are becoming global and so the question is not whether a company should build a website or not but the question these days is what should be the intensity of operations via E-commerce.

Q6) The key to building a successful business is to maintain long-lasting relationships with business contacts and customers. One way to achieve this is to use your customer database as part of your marketing strategy (Parish, 1998).

Setting up a database involves capturing, centrally storing, organizing and analyzing customer information. Such systems have scheduling and call-back features that help you keep up with appointments and phone calls. Another feature programs your computer to answer the phone and pull up customer records.

The biggest advantage an electronic database has over physical filing is the ability to sort information. With the archaic system of manual filing, you can search for data based on the way it’s arranged–usually by a person’s last name. But with an electronic database, regardless of how the information is entered, it can be sorted any number of ways–by city, payment due date, type of company–whatever you want (Parish, 1998). There are many applications for your database. Here are at least six to get you started:
• Send routine mailings or promotional pieces (e.g., coupons or discounts) every three months.
• Send gifts and thank-you notes to your best customers.
• Determine when regular customers are due to re-order and call them up in advance. This minimizes the chance of losing those orders.
• Send newsletters or announcements to keep customers informed of new products/services.
• Send personal notes thanking customers for their valued service over the years.
• Send personal notes expressing concern to customers who are ordering less.

The idea is to build an ongoing rapport with customers/clients. Maintaining a thorough databasemanagement program ensures good customer relations, which in turn promotes repeat sales (Parish, 1998).  Q7 As we enter the new millennium, fundamental changes are happening to trade and the way it is organized. There is a growing shift toward an electronically connected world in which ideas, information, and services are replacing the traditional reliance on physical goods production as the primary generator of wealth and employment. In this new economy, market dynamics will dictate a business model that provides for the integration of different partners in a value chain. Using a variety of technologies from information technology (IT), this model can enable highly coordinated trading communities, each with the ability to operate like a “virtual enterprise.” (Dan, 2001).

The emerging e-business Web economy requires an agile enterprise that can work more directly with suppliers and customers and respond more rapidly and intelligently to change. Technologies such as the Internet are beginning to transform traditional business models. Business pressures–margin erosion, channel proliferation, rising customer expectations, time-based competition, and faster product commoditization–are placing increased emphasis on how organizations operate and interoperate with other enterprises (Dan, 2001).

Business requirements. Facilities such as EDI have successfully provided electronic document interchange between companies and their suppliers for a number of years. However, the high cost of EDI and its dependency on specialized deployment skills have always proved a barrier to adoption by all but the largest enterprises. Although EDI will continue to evolve, utilizing pervasive networks such as the Internet to reduce costs, complementary technologies are emerging that are able to provide some of the key capabilities necessary to enable dynamic business process integration. The basis of these technologies is the formulation of:

• A “common language” that can be employed by existing or potential trading partners to specify how they will interact
• An “electronic contract” that employs this common language in order to define and enforce the interaction protocols with which they will do business

Business-to-business interchanges based on EDI have long been defined by informal textual documents called TPAs (Dan, 2001). These TPAs are contracts that define both the legal terms and conditions and the technical specifications that both partners must implement to put the electronic trading relationship into effect. They are given to each partner’s programmers to implement the technical specifications and are therefore subject to misinterpretation, resulting in implementation errors that must be corrected before electronic exchanges can begin. In contrast, an electronic TPA can be used to automatically generate (using suitable tools) the necessary customization information in each partner’s system, thus assuring that the systems are compatibly and correctly set up for electronic business (Dan, 2001).

Q8) Perhaps the best known Ecommerce business is Amazon, which started life as an online bookshop 10 years ago. In contrast with Walmart its business model was to dispense with actual shops and concentrate on supplying a fast service at low prices over the web. And these are the major differences between the two (Fasoranti 2000).

Amazon is now worth more than many businesses that have taken years to develop. It is also one of the world’s best known brand names, which has allowed it to diversify into other online products. This diversity might have been achieved to some extent by Walmart but compared to Amazon it is minimal (Fasoranti 2000).

Q9 Ecommerce is more than an online shopping site. It is using an electronic network to simplify and speed up business. Most consumer Ecommerce sites concentrate on the selling. As such they are just another type of shop front. In fact, much of the rally exciting action in Ecommerce is happening away from the public gaze in established businesses. The Internet allows business to adopt new processes that are faster and cheaper than the old ones. Success is all about keeping ahead of the competition: if there is a cheaper and better way of doing something, you’ve got to find it first.

Ecommerce isn’t about reinventing your business. It’s about streamlining your current business processes to improve operating efficiencies, which in turn will strengthen the value you provide to your customers. This value that cannot be generated by any other means, and it will give you a serious advantage over your competition. One should look at all the processes which lie behind offering a competitive product and ensure that you use the best technology to do it even better. These processes can include ordering, supplier payment systems, stock control, customer billing, customer relations, channel management, employee communications, personnel systems, recruitment and more (Fasoranti 2000).

Q10) Socially speaking global acceptance of E-commerce involves the same barriers which are faced by any new technology or innovative process. The reluctance to accept and to improve their skills on part of people in order to be efficient users of technology is considered the biggest challenge and barrier these days. People need to know that the introduction of processes is for their own welfare and can ease many things in their lives while escalating their standard of living.

References
Chen, Lei-da, Sakaguchi, Toru, (2002) Data Mining Methods, Applications, and Tools. Information Systems Management, 10580530, Winter2000, Vol. 17, Issue 1
Dan, A., (2001) Business-To-Business Integration with Tpaml and A Business-To-Business Protocol Framework. IBM Systems Journal, 00188670, 2001, Vol. 40, Issue 1
Dominick, Charles (2006) Supply Base Rationalization: Not 1, But 5 Options. PurchTips – Edition #92. January 24, 2006
Fasoranti, Del, (2000) Online Advantage. Cabinet Maker, 00079278, 02/11/2000, Issue 5174
How Stuff Works Website (Last Visited May 13, 2006): http://electronics.howstuffworks.com/question332.htm
Parish, Diedra-Ann, (1998) Database Marketing. Black Enterprise, 00064165, Jun98, Vol. 28, Issue 11
Turban, Efraim, King, Dave, Lee, Jae Kyu, Viehland, Dennis (2006) Electronic Commerce: A Managerial Perspective 2006, 4/E Publisher: Prentice Hall. Copyright: 2006

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