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Role of e commerce in a global economy
E-shopping vs traditional shopping
E-shopping vs traditional shopping
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Recommended: Role of e commerce in a global economy
e refers to the trade of production or service across the internet using an electronic means. This includes all the activities that help in carrying out a transaction. There is no face to face interaction between the parties. Ecommerce can be business to business, consumer to business and consumer to consumer. Ecommerce covers the external facing processes that touch customers, suppliers and existing partners .
It includes :
• the buying and selling of information as well as products and services.
• the use of telecommunications networks to connect organizations and/or individuals.
• sharing business information and maintaining business relationships.
• Paperless transactions.
• all computerized inter-company and intra-company functions
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E-business focuses on internal processes and aimed at cost saving, improvement in efficiency and productivity. E-business is the digital enablement of transactions and processes within a firm and therefore does not include any exchange in value. For instance, e-business turns into e-commerce when a value exchange occurs across firm boundaries.
M-commerce is about “substance delivery (notification and reporting) and transactions (purchasing and data entry) on mobile devices” (Leung and Antypas, 2001).
Most often m-commerce is understood as mobile e-commerce M-commerce is supposed to enable us to buy everything from anywhere over the Internet without the use of a PC. Internet access and Web browsing is assumed to be the key to extending m-commerce to customers (Harter, 2000). In many ways, m-commerce is the continuation of e-commerce with the palm handheld, wireless laptops and a new generation of Web-enabled digital phones already on the market (Keen, 2001).
2.0 Merits of E-business over traditional
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Differentiation reduces the substitutability between products, thus benefiting sellers t impact market share very much: Many customers are willing to pay a bit more for the personalised value offers.
Low overhead costs will lead to low prices, implying business is a cost leader. If volume is large enough, prices can be reduced by 40 percent or more.
3.0 Implementing E-business model whilst keeping traditional status
Businesses must not implement e-business just because it is the fad but rather determine whether it will enable their strategy to have a competitive edge. Several e-business models have been introduced and a choice is made depending on the nature of business.
The first step is to document all operations of the business in detail. Base your E-business procedures on current methods but make changes where necessary. Plan each step in the process for instance from receiving orders and executing the order and shipping. Aftersales service and customer service is very important. For an ebusiness, the website is the face of a company in the mind’s eye of the customer. It must be designed to be attractive, easy to navigate, pages must not be overloaded with
In the last decade, wireless communications technology has grown rapidly in the global business community. The convergence of two key wireless technologies- mobile wireless communications and the internet has presented a plethora of opportunities for organizations through mobile business hereinafter referred to simply as m-business. M-business is a new business model which utilizes the internet for data/voice transmission through the deployment of wireless devices like smart phones, tablets and e-purses (Gartner, n.d. ). According to Picoto, Belanger and Palma-dos-Reis (2013) m-business has revolutionized the way organizations conduct business as customers are increasingly resorting to m-business. This pragmatic shift can be explained by the reliance on mobile devices for example smart phones to shop online. Undoubtedly, the market for m-business is on an upward growth curve with forecasts establishing higher global uptakes in coming years (Picoto, Belanger, & Palma-dos-Reis, 2013). With such high growth potential, one cannot help but ask what value m-business holds for contemporary organizations?
Differentiation: by focusing on those activities associated with core competencies and capabilities in order to perform them better than do competitors. The key point of this strategy is to create something that customers feel as being unique.
Product differentiation: Some products are, or at least are seen as, commodities. Because there is little to choose between brands, price is the main competing factor.
E-Commerce is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. It also includes ‘M-commerce’ which makes use of various mobile devices or smart phones. It means "the delivery of e-commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology.” The various services available on M-Commerce are Mobile Money Transfer, Mobile ATM, Mobile ticketing, Mobile vouchers, coupons and loyalty cards, News, Stock Quotes, shopping apps, Mobile brokerage etc. Launching of Google Wallet Mobile App is one of the recent developments.
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...
M-commerce (mobile commerce) is the buying and selling or transaction of goods and services through wireless devices such as cellular phones and personal digital assistants (PDAs).
In the following pages we will take a look at the steps that must be taken into consideration when developing a successful e-business architecture.
As the author of the article concedes, the online shopping has flourished in the past years. Many customer have seen the advantages of e-commerce in the ways of time and money saving. Whit a simple click on the keyboard the goods are uploaded in a virtual cart and from there are delivered to the customer address. Also, the online stores have the opportunity to create a customer database and a customer profile. The customers receive periodic reminders of the new offers and sales via email or mobile phone messages. In the meantime, many classic stores have struggled to maintain the business keep up. According to the article, the brick and mortar stores will implement new features that conduct customers to an easy and pleasant shopping. For instance, the retailers will use the customer mobile phone as a concierge application. The customer will be informed about latest products and their availability. Furthermore, the customer will have the possibility to track needed items inside the store with the help of store mapping and products locations. If the customer will change the shopping list, the app will provide the route to the new item. Also, when a customer will passing a store the app will remind the last customer visit into the store and
According to the author, e-business is conducting business on the internet by not only buying and selling goods, but also servicing clients and collaborating with business partners by using all the human technologies.
Consequently, e-business and especially online shopping is crucial for retail stores. They should provide necessary infrastructure for selling their products online. By taking advantage of e-business not only they can get competitive advantage of online shopping, but the...
According to the definition of Whatis.com "E-business (electronic business), derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners."[1]
Li, F 2007, What is E-business ?: how the Internet transforms organizations, Blackwell Publishing, Oxford.
Mobile marketing is becoming the most productive and cost effective medium for reaching a highly desirable demographic. It purposes are numerous : canvassing, building up customer loyalty and of course selling. The mobile phone is a good tool to exchange information with customers with several medium : Small Message Service (SMS), Mini Message Service (MMS), video MMS or internet. Today, it is also possible to pay with your mobile phone and some people think that mobile-phones will replace credit-cards or loyalty-cards in a next future.
The emerging growth and use of technology makes our life easier. As the use of Internet is growing day by day, the electronic business is also growing. Electronic business is based on Internet. There is vast growth in the electronic business. Electronic business is defined as the business, which uses technology (internet) to improve the business. In this type of business the Internet manages everything. In the electronic Business both the internal and external resources are managed online. In the Electronic Business the trading of goods and services is through online that is by the use of Internet. Electronic Business uses Internet, Intranet or extranets to manage the business activities. Even the marketing of the products or business is done online which is called as either online marketing or website marketing. The communication is also done online through emails, and training for the staff is also online or electronic that is eLearning. The tools, which are included in the electronic Business, are mobile phones, personal digital assistants (PDAs), electronic data interchange, file transfer, facsimile, video conferencing, Internet, intranets and extranets. Electronic Business is not simply having a website for the business, it is all online based; every single thing is done online. All the transactions, training, sales, advertisements, trades is done online. Electronic business has made communications quick and easy, it strengthens the marketing capabilities and increased the hours of operation (24x7 online). Electronic business saves lots of time and money. It even saves the environment, which is lots of paper is saved which results in saving trees. Electronic Business is more secured when compared to the normal Bu...
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.