Farce to Force: Building Profitable E-Commerce Strategy by Sarah McCue BOOK REPORT Thesis In her book, McCue- an advisor to U.S. Government, United Nations, and World Bank organizations on trade development, e-commerce, e-government, and youth issues since 1991– indicates that Internet is used as sales and marketing medium but this sales channel is not as viable as expected because a huge number of competitive websites are growing exponentially. In addition, misunderstanding e-commerce and Information and Communication Technology (ICT) can result in ineffective business practices. She also provides handy checklists, detailed outlines of key operating principles, and insider tips of what to do, what not to do and where to find information for building an e-commerce strategy and executing it in an integrated marketing program. This book also has templates and techniques for strategy and addition resources. And more important, the ideas presented here can be used in all organizations, from small to large e-commerce enterprises in this fast-changing world. Key points/ Graphics In just over 200 pages, Farce to Force covers some main points that readers should take away as follows: • Myths and misperceptions regarding E-commerce: By analyzing the collapse of a large number of e-commerce websites, the author indicates that understanding e-commerce and ICT is very important. The internet is a useful tool to improve productivity, customer service and expand into global markets. However, some businesses are building unprofitable sites due to misuse and misapplication. They are not listening, responding immediately to their customers or don’t know how to use information and telecommunication technology to change customers and buyers psychology. Therefore, customers either renounce or change to use a few giant sites (McCue, 2006, p. 3). Attached Appendix 1 shows Myths and Misperceptions regarding E-commerce and ICT (McCue, 2006, p.9) • Challenges of building an e-commerce program: The author suggests the following barriers to electronic commerce enterprises: cost; security; lack of success; lack of business e-commerce strategy; lack of national e-commerce strategies; lack of support in business assistance; lack of knowledge and application of information technology; lack of adequate internet service providers; limited use of internet to locate and buy products and services; conflict with customers’ tradition buying practices; inability to identify successful e-commerce industries or sectors; inability to identify what products sell well; and inability of government to provide solutions.
The authors do eventually (pg. 205) acknowledge that some may see the book as trying to enrage the public just to sell books. In fact, Ron Levy, P...
Laudon, Kenneth C. Traver, Carol. E-commerce: Business. Technology. Society 3th ed. Pearson Prentice Hall. Upper Saddle NJ, 2007.
In summary, “Internet activities are not most significant in competition, such as informing customers, processing transactions, and procuring inputs”. (Porter, 2001) significant corporate assets--skilled employees, proprietary product, and efficient logistical systems – these factors are the most important to keep competitive advantages. In fact, it is foreseeable that the Internet's evolution will come up in the future involve a shift “in thinking from e-business to business, from e-strategy to strategy”. (Porter, 2001)Only by integrating the Internet into overall strategy will this powerful new technology become an equally powerful force for competitive advantage.
The future of economic competitiveness for most enterprises relies on entrance and active participation in the e-commerce market. An essential problem with e-commerce is that the controls and organization are different for each site. There is no standard way of building t...
In today's competing world, many organizations are rethinking their strategies in terms of the online business and its capabilities and culture. Organizations are taking advantage of the widespread web to buy and sell goods from other companies and recently from individual customers. Exploiting these opportunities of convenience, availability and widespread reach of the web or Internet, many companies such as Amazon have benefited from the use of web successfully.
Ever since internet connection was widely provided to consumers, internet business has grown rapidly and its development also made marketing easily accessible. As a result, countless types of businesses opened on the web and countless numbers of people have been using internet services every day. Meanwhile, not every customer is satisfied with every internet service. Have you had the experience of locating wrong information while you were using search engines like Yahoo' or Google' to look for something? Have you had difficulties separating good information from bad because you had too much result? Maybe Yes'. As a matter of fact, not all internet businesses accomplish their own goal- "to provide consumers with the best service and to maximize a profit". Some businesses made a lot of profit and others failed in a few years with a big loss even though they invested huge amounts of money. Are there any specific reasons why some companies are successful and others not? Why do many big corporations keep failing in internet business even though they have a lot of experience in other than internet business? Although it might appear that the success of an internet business depends on a particular kind of service which a company provides, the real strategy of earning popularity in on-line business actually depends on how well the company manages its web site content to provide the most effective ways to give consumers satisfaction.
E-commerce, a system by which people can buy, sell and deal without even seeing the person on the other side, has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking.... ... middle of paper ... ...
One of the fundamental factors that has affected the process of economic globalization is the improvements in the technology of transportation and communications. This has reduced the costs of transporting goods, services, and factors of production and of communicating economically useful knowledge and technology. There is no doubt that advances in information and communications technology are the most important technological advances of the past quarter century (Mussa, 2000). By far, the most important and business altering advancement is the internet. There is evidence everywhere that the internet has greatly affected international trade. The internet has opened up the world, and brought it right into everyone's home and business. In addition, technology and the internet have greatly reduced the costs of doing business. Even the smallest operation can now go global via the internet at almost no cost. However, there are still some problems that face these e-commerce activities. These problems are shot-term challenges and can be met. The key issues center around two areas:
E-commerce is the use of the web to sell products and services. While the use of the web is used for many things today, making a business out of it can prove to be very sufficient. Using this method to increase your business profits could lead to an increase in customers. Three ways e-commerce can provide service for it 's customers is by managing simultaneity through customization, reducing customers errors and by using innovation as part of customer participation. Cyberservice overcomes many of the traditional problems of services marketing by giving the marketer undreamed of control over the previously capricious characteristics of services. This is because the Web, as an interactive medium, combines the best of mass production and customization.
The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
The Internet's popularity has dramatically escalated over the past few years and has become an integral part of daily life. It has wide spread uses ranging from obtaining information, downloading files, business advertisement to Internet commerce, which plays a major part in Internet practice. Our social structure is pressuring society to connect to the Internet, with schools world wide becoming more Web based and universities now have lectures, which can be solely viewed over the Internet. Within the next few years the potential and capabilities of the Internet are endless. With that in mind the following assignment will examine a continuously flourishing component of the Internet, Internet shopping. Although Internet shopping is on the increase, it will never surpass conventional shopping, as the ?experience of shopping? is lost, it is open to fraud and the ?try before you buy? concept does not occur. From this information, it could be stated, ?The promise of Internet shopping is drowning in a flood of deceit, customer dissatisfaction, fraud and misappropriation. The Internet is best known for being a information superhighway, not a superhighway to the shopping mall.?
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
E-commerce is about two decades old, yet due to its fascinating dimensions, it remains a challenging area for researchers and professionals.
The report also talks about the differences between, advantages and disadvantages of e-business and e-commerce. Recommendations and advice have been given in the end for businesses intending to adopt an e-business dimension.
E-commerce means that the company runs their business online, not like the traditional business way. We have to go the shopping mall or store to get goods that we need, E-Business is the enabling of electronic communication between any two or more participants in a business relationship. It helps companies capture abroad business field, cost saving, and market opportunity. E-commerce is an important factor that is making people’s lives more efficient.