E-commerce and Its Importance in Business Table of Contents Table of Contents 2 Introduction 3 E-Commerce and Business Transformation 4 Drawbacks of E-Commerce 8 Benefits of E-Commerce to Customers 11 Conclusion 14 References 15 Introduction Electronic commerce (e-commerce) is fundamentally described as the conduct of various business transactions through the execution of telecommunication network (Sage Publication, 2012)…
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With the increase in the number of internet users, the popularity of e-commerce has been significantly increased by a greater extent. Customers and organisations are now much attracted towards performing e-commerce activities and are considering the use of internet as an important alternative over the traditional modes of business. In relation to the perception of e-commerce, the online marketing has provided a new paradigm to consumer behaviour. Online stores have offered customers with wide choice of products and convenient ways of shopping as well as payment modes (OECD, 1999). The emergence of e-commerce has relatively removed the barriers of customers and online traders to efficiently cooperate with each other irrespective of geographically distance. E-commerce enhanced the speed of business transactions and reduced the time that is consumed by the organisations while making business transactions. However, the intensified dependence on e-commerce has also raised significant concern over certain crucial factors like privacy along with security of customers’ vital information. ...
The industries, markets and businesses are rapidly transforming themselves into technologically oriented from traditional approach due to extensive use of paper works that ultimately consumes much time while conducting any business transactions. Accordingly, the notion of e-commerce enhances the association between the customers and the suppliers and makes the buying as well as selling decisions of the customers more convenient to execute. Conversely, it can also be affirmed that e-commerce might pose serious impact almost on all the parties involved in a business transaction such as individual users, organisations, buyers and sellers (DeLone & McLean, 2004). Zhu (2004) proclaimed that the intensive use of internet imposes radical impact upon enterprise value chain system with respect to its inbound as well as outbound costs. Moreover, internet enabled initiatives undertaken by large companies will strengthen the online relationship with customers and will immensely help in disseminating product information, facilitating smooth product transactions, improving customer services and efficiently managing inventory electronically. Moreover, it has also been claimed that efficient use of e-commerce also intends to improve the utilisation of valuable assets by the organisations in the best possible way. Consequently, effective execution of precious assets will ultimately help the organisations to reduce their different costs, secure greater returns and enhance productivity along with profitability (Zhu, 2004). According to Pires & Aisbett (2003) e-commerce changes the behaviour as well as the attitudes of both the customers along with the suppliers within the marketplace.
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However, China has failed to meet its full potential in the e-commerce market.1 Researchers have argued that in order for e-commerce to be successful, consumer trust in the e-business is entirely important, because consumer trust is promotes positive attitudes and a lack thereof is linked to negative attitudes toward perceptions of risk.2 It has also been argued that Chinese culture which is influenced by Confucianism which invariably commands collectivism is incompatible with e-commerce practices.
to 2009-10 28 4.4 Trend in Retained Earning between 1996-97 and 2009-10 30 Chapter 5 – Conclusion and Recommendations 32 References 34 Organization for Economic Cooperation and Development. (1999). The Economic and Social Impact of Electronic Commerce: Preliminary Findings and Research Agenda.
This discussion talks that an industry-based approach is needed due to the fact that the diffusion of E-Commerce is of dissimilar magnitude in each industry; it is undoubted that the “Information” sector has been affected the most whilst the effect on “Construction” sector has been of “‘second”’ order.
An e-business model is an approach taken by a company to earn revenues and maximize profits. Essentially an e-business model refers to a revenue-earning medium focused around the key elements of any business venture – market, customers, suppliers and resources.
According to reports SMEs contribute significantly towards the total GDP of a country and are also responsible for generating large number of employment opportunities. The definition of SME however differs from one country to the other. In simple terms the criteria for a company to fall in the category of SMEs differs from one country to the other (Asia Pacific Economic Cooperation, 2004).
In most cases, these are the audit personnel who will effectively discover that whether an organization is following the laws and principles which it has to tackle. In view of the fact that the electronic commerce (e-commerce) is the process of running the business activities through web based framework.
The study is significant as it will uncover the pros and cons of e-commerce. Hence the primary aim of this dissertation is the answer to the question does e-commerce really changed the system of doing business towards betterment or it was just a routine change. The next sections of the project will clearly describe the literature to be reviewed.
According to the report there are different forms of electronic business starting from automated data collection systems to inventory management systems, electronic data interchange, online transaction processing, Internet marketing, supply chain management and electronic funds transfer. This form of business is able to reach a global market.
According to Yi and Hwang, construction companies throughout the world are splintered primarily because of the involvement of several investors as well as phases in a particular project. It is due to this fragmentation that construction companies have been facing several well documented challenges regarding information communication and processing.
The research journey was initiated with a meager idea that derived value through the support and cooperation of many. The researcher would like to appreciate the help and support of his supervisor …………………… on offering effective guidance at every step.
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