The Small and Medium Enterprise (SME) sector is one of the vital components of the economic backbone of a country. Government as well as the private sector companies have put in tremendous efforts and invested large sums of money assist the growth of SMEs…
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Apart from that SMEs have been also supported with financial assistance, management training, legislative & policy support, and counselling services. The SME sector of a country is considered as one of the pillars of the economic growth of a country. The statement SMEs are a major source of entrepreneurial skills and creativity and contribute to economic and social cohesion. They hold the key to innovation and are also emerging as global players, by participating in worldwide production and supply chains made by the Deputy Director- General for Enterprise and Industry clearly reflects the importance of SMEs in a country. 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 order to ensure growth of this sector, government as well as the private sector played active roles. There have been several programs in the past initiated by different establishments to ensure growth of SMEs. In addition, adoption of different technologies by the SMEs is also another obvious factor. The latest to this is the implementation of e-commerce technology by several small and medium sized companies. The principal reason behind the implementation of this technology is to drive growth and profitability. However before getting further deep into the study, a brief overview of the e-commerce technology is provided below.
In order to ensure growth of this sector, government as well as the private sector played active roles. There have been several programs in the past initiated by different establishments to ensure growth of SMEs. In addition, adoption of different technologies by the SMEs is also another obvious factor. The latest to this is the implementation of e-commerce technology by several small and medium sized companies. The principal reason behind the implementation of this technology is to drive growth and profitability. However before getting further deep into the study, a brief overview of the e-commerce technology is provided below. E-Commerce: A Brief Overview Over the past few decades, e-commerce has evolved as one of the fully functional application for carrying out business transaction through electronic medium. During the early days of internet commercialization, the data transmission speed used to be extremely slow. It used to be characterized with the slow dial up connections. At that time, Netscape came into light and changed the scenario of internet browsing. Along with increased data transmission speed, it also succeeded to provide great internet surfing experiences to the user. Thus, several eminent scholars and individuals of the online business industry consider Netscape as the reason for the arrival of this new business dimension. This development has also led to the concept of e-commerce, where people can carry out business transaction over the electronic network. Thus, e-commerce is defined as a system of conducting business activities with the help of internet and other information technologies (Zongqing, 2004). Moreover, considering the current business environments, a number of scholars believe that companies must
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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.
Almost, all the sectors including finance, retail and communication segments of businesses are enormously being affected by e-commerce activities. In other words, it can broadly be stated that e-commerce has dramatically changed the business modes by a significant level.
References to any work done by other persons and that has been used in my work has been duly acknowledged and cited. I certify that this paper have not been submitted by any other person or elsewhere. I understand that misrepresentation of material may lead to revocation of academic awards.
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.
base 35 1.9.3.Design Methods 36 1.9.4.Analysis of Construction 40 4.User Guide 46 5.Testing 47 1.10.Test Techniques and Methods 47 1.11.Test Plan 48 6.Evaluation 51 1.12.Stage Wise Evaluation 51 1.12.1.Evaluation of Analysis 51 1.12.2.Implementation Methodology 52 1.12.3.Testing 52 1.13.Problems and Modifications 53 1.14.Experiences 53 1.15.Future work 54 7.Bibliography 55 8.Appendix A – Class Diagram 59 9.Appendix B – Logical Data Model 60 1.
In order to support the purposed research aim, four research objectives in the form of how e-commerce can benefit companies belonging to the SME sector, advantages and disadvantages of e-commerce technology, ways through which e-commerce can increase the profitability of SMEs, and reasons behind low adaptability rate of e-commerce by SMEs were formulated.
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 author states that the field of e-commerce has been hit again by a significant development: m-commerce. With more than 20 percent of total online revenue coming from handheld gadgets, enterprises are now doubling their efforts in establishing mobile optimised e-stores and websites to serve clients on-the-go.
Job opportunities, reduction in poverty, earnings, development of rural areas as well as exports and entrepreneurship are affected positively by SME and global leaders such as China and the US have developed bureaus and created policies with the aim of ensuring that SMEs become successful.
16 Pages(4000 words)Dissertation
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