But with the advent of e-Commerce, people can buy goods, pay bills, or transfer money in just one click. E-commerce and e-business both address these processes, as well as a technology infrastructure of databases, application servers, security tools, systems management and legacy systems. With the features of competition for talent in the 21st century, human capital has become the most important capital. What sort of communications strategy are you going to use to attract them to your shop or website? Still, the coordination and organizational obstacles to developing an e-business strategy are formidable. Resource focus Supply side Demand side Business Relationship Linear End-to-end Marketing One way marketing One-to-one marketing Payment Cash, cheque, credit card, etc.
After analyzing what is required, the systems analyst must look into what can break if the requirement is implemented. With access to a World Wide eBusiness of expertise and the ability to share production and sales information easily, the ability of a firm to create a virtual team to exploit an eBusiness opportunity increases dramatically. On the other hand, payment in e-commerce transactions can be done through online payment modes like credit card, fund transfer, etc. Whereas internet is a public thorough way, firms use more private, and, hence more secure networks for more effective and efficient management of their internal functions. For example, in running an e-business, only a head office is required. China has transformed itself from a command economy to a market one. Fraud Lot of cyber frauds take place in electronic commerce transactions.
Fraud in traditional commerce is comparatively less as there is personal interaction between the buyer and the seller. They then generally write specification for the Programmer Analyst to code. Analysis of the macro-environment comprises of cultural, economic, competition, political and legal factors that affect the way business. At present most of the companies are doing e-business just to capture the maximum part of the market. And both involve the creation of new value chains between a company and its customers and suppliers, as well as within the company itself.
Many people, still prefer traditional commerce over e-Commerce, due to their dogma that the latter is not safe, however, this is just a myth. Consumers tend to like differentiation and personalisation and are frequently willing to pay more for them. The entire process of business involves risks. It would not be an exaggeration to say that in the absence of internet, globalisation would have been considerably restricted in scope and speed. Process There is an automated processing of business transactions in electronic commerce.
By electronically enabling it, it becomes an e-business. The pros and cons of opening a traditional business vs. E-business is a little different as it is not limited to, commercial transactions, but it also provides other services. Ease of formation and lower investment requirements: Unlike a host of procedural requirements for setting up an industry, e-business is relatively easy to start. Demographics and Convenience In a brick-and-mortar shop, customers can see, touch, and try products, but only during open hours.
Credit card, fund transfer etc. While the traditional businesses are still around, e- business has been growing at a steady rate. Needs Assessment The nature of your small business and the type and amount of customer interaction it requires to be successful dictate whether you need a physical address or a virtual one. What products or services are you going to sell? If clients are going to be ordering by phone or email, you will have to physically process the order. When a commercial transaction takes place over electronic network, then it is termed as e-commerce.
Shopping for goods electronically doesn't just save customers time and energy; it can also save them from paying sales taxes, provide them with more outlets to comparison-shop and eliminate the feeling of being pressured or followed around by a salesperson. More Market Niches The market-niche strategy is as old as the study of competitive advantage. E-commerce saves a lot of valuable time for both the consumers and business. Time saving It takes a lot of time to complete a transaction in traditional commerce. Her credits include many books, plays, optioned features, articles and interviews. The perfect student nevertheless might not simply spend on to obtain a great deal connected with promotional initiatives and in addition banners. Not all businesses are adaptable for strict e-business models.
Subset Superset Is it limited to monetary transactions? Governments should have an e-public service strategy. This timing difference can be a significant factor for some consumers; for example, refunds would. Like Cognos , Busines … s Objects is one of several software products used by the business intelligence community. Look at each question and analyse the current market and compare your aims and performance with those of your competitors. Gone are the days when the commercial activities like the exchange of goods and services for money, between parties, takes place only in the traditional mode, i. Many products are complicated to use and require telephone assistance.
. Organisations that sell online and provide information to search engines will gain a competitive advantage. These sales can include every element of a sale: ordering a product, paying for a product, and having it delivered. Being able to separate your work life from your personal life is often a greater challenge when you and your job live under the same roof. First of all, going digital means less use of paper and less consumption of stationery which can prove to be one of the most constant expenses while conducting any training. Entrepreneurs who are planning to start a new business venture should consider the differences between an e-business and a traditional business model. The article presented to you explains the difference between e-commerce and e-business.