Internet Business
Executive Summary:
Over the thousands of years that people have engaged in commerce with other, it has adopted the tools and technologies that became available. The combined influence of continuing sales growth and rising operating costs has caused the company to consider whether it could move the entire sales operation onto the Internet.
In comprehending the potential impact of the Internet on the world economy, one should recognize that the technology has the ability to cut costs, increase competition and improve the functioning of price mechanisms in many markets.
Electronic commerce is one of the way can complete all the said as above. ¡§Electronic commerce mentions the use of electronic data transmission to implement or enhance business processes.¡¨ (Biggs,1998)
Electronic Business connects small to medium-sized businesses to the Internet, electronic commerce, and global trade. No matter for any sized business, there also needs to provide all data files corrupt out of company.
Advertising & Promotion
¡§Promotion is a process whereby information about the organization¡¦s product or service is encoded into a promotional message for ...
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...cashier or has any mistake during the transaction. Also, Logistics division has to handles customer service problems when the products are not delivered and it needs to keep track with. Even though the automatic tacking system is popular for electronic business, however sometimes provide a hotline for customers and have real person answer the question can let the customers feel much more comfortable then using a system.
Reference
Ray,M.L. ;,Advertising and communications management; Prentice Hall; Salle River, NJ; 1982
Radall,L; Average E-Commerce Web site costs US$1 Million;Computing Canada,2(24),1999
Harbrecht, Douglas; ¡§Jeff Bezos: Amazon is something Genuinely new¡¨,2002
www.businessweek.com/bwdaily/dnflash/jan2002/nf20020128_01062.htm
Biggs,M.; E Commerce Is Hot Today,but E Business is the gift that keeps on giving all year long; Info World, 1998
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.
Based on these concerns, retailers in the international marketplace have their work cut out for them. But through proper education of consumers, and the ever-expanding growth of the infrastructure in many countries, the future seems to be leaning heavily towards using the Internet for many needs.
Promotion. Finally comes promotion - informing the customer on the qualities and advantages of the product so that the potential buyer learns about the product, prefers it to those of the competitors, and has an opportunity to buy it at some place.
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 ... ...
"The long-term challenge is to accelerate the development of next-generation technologies in a way that avoids repeating the mistakes of the past" (Global Technology Initiative, 2003). Even with these challenges, e-commerce is changing the face of business worldwide every day. In mid 1999, General Motors announced a development, which simultaneously accelerated the process of globalization and e-business (Reynolds, 2000).
1 b: the process or technique of promoting, selling, and distributing a product or service
The world we live in today, revolves around technology, new innovations and constant change. The global economy incorporates these changes into its daily applications forming a technological driven world where businesses thrive on information and competitive markets. Computers and communication networks have planted a seed in this information age where enterprises flourish forming revolutionized market economies. One of the most profound changes emerging in the world of business today is the introduction and use of Electronic Commerce or EC. The impact of EC on customer services as well on businesses is dramatic enough to affect any and every organization. Electronic commerce is the buying and selling of products and services and information via a computer network.. It provides opportunities for companies to expand their business worldwide at a small cost.
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.
Korper, Steffano and Juanita Ellis: The E-commerce book: Building the E-Empire. San Diego, CA; Academic Press, 2000.
Electronic Data Interchange (EDI) can be formally defined as 'The transfer of structured data, by agreed message standards, from one computer system to another without human intervention'(Wikipedia, 2007). It represents the application of computer and communications technology to traditional paper-based business processes, supporting innovative changes in those processes. It involves the exchange and transmittal of business documents, such as invoices, purchase orders and shipping notices, in a standard, machine-processable format (CISA, 2008).
The Internet has become a key ingredient of strenuous and busy lifestyle. ‘Internet’ has become the central-hub for communication, explorations, connecting with people or for official purposes. Resultantly, Internet growth has led to a plethora of new developments, such as decreased margins for companies as consumers turn more and more to the internet to buy goods and demand the best prices.
E-commerce or electronic commerce is carrying out business communications and transactions through computers and over networks. It involves buying and selling of goods and services through digital communication. E-commerce also includes transactions on the World Wide Web and the Internet and means such as electronic funds transfer, smart cards and digital cash. E-commerce covers outward facing processes that interact with customers, suppliers and external partners such as sales, marketing, delivery, customer service, purchasing of raw materials and supplies for production.
This paper includes the process of online business; how to sell a product, advertising, various ways to create awareness and how to become a reseller. Laws and conditions for an online business.
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.
The high take-up of the Internet leads to variety of opportunities in front of companies. People are more online than ever. They spend many hours each day on Social Networks such as Facebook and Google+. It is no wonder that buying and selling can now be done in a more convenient way. Although traditional shopping is still thriving, online shopping can be an alternative for people wanting to save time and money. If a certain customer plan to go shopping, it could be stressful and also be time consuming. E-business has made shopping or any kind of transactions online much easier and convenient. It introduces new facilities, opportunities and way of shopping for both vendors and customers.