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E-Commerce/Banking Portfolio - Essay Example

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Date: 28th March, 2012 E-Commerce Portfolio Assessment 1 E-Banking E-Banking, also known as Online Banking and Internet Banking is a way to utilize the benefits of internet so as to conduct banking activities. Through online banking, one can manage his bank account through different ways which include; inquiry about balance, bill payment, viewing bank statement, applying for loans and credit cards etc…
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E-Commerce/Banking Portfolio
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E-Commerce/Banking Portfolio

Download file to see previous pages... Nowadays, there are many banks which deliver only online services and do not have physical existence. They include Virginia and Bank net in United Kingdom, Telebank in Arlington etc. online Banking has made financial life easy to manage. Some of the prominent functions of online banking include: i. Viewing Transactions ii. Payment of bills iii. Transferring funds to other accounts (Caldwell)  Increased services offered by online banks have triggered the market growth. According to International Data Corporation (IDC), in 1998 only 1,150 were offering online services but in 2003 approximately 15,845 banks have started to provide online banking services to their customers. It has made customers life easier than ever before. (Pastore) Despite of numerous advantages, online banking systems needs to be handled very carefully. A person after having done his transactions in public computer must erase the cookies for every session of transaction. Moreover, a person must also ensure that the password must not be so short that it can be hacked easily. Also, online banking information must not be revealed to anyone who is not an accredited signer of your account. Assessment 2 Role of e-commerce managers Source: (Scope of Ecommerce) The above diagram illustrates the role of managers in the field of e-commerce. First of all, managers have to set vision that needs to be achieved by the entire e-commerce organization. That vision needs to be communicated to the entire organization because if the vision is not communicated then there is no use of setting a vision. After setting up the vision, managers need to determine appropriate goals that will be required to attain so as to meet the demands of that vision. Without establishing appropriate goals, attainment of vision is not possible. After the goal has been set, managers need to formulate appropriate strategies for accomplishing that vision. Strategies need to be coherent with the vision and values of the organizations and must be made for long term. After crafting the strategies, there must be a careful and proper implementation of those strategies. Efforts of crafting strategies go in vain if they are not implemented as per the requirements. Therefore, it must be taken into account that while implementing strategies there is no loophole left. In e-commerce, there is huge risk of time, money, trust and reputation. Therefore, managers need to be very careful in implementing strategies. After the successful implementation of strategies, a proper check in balance needs to be done. For this reason, managers need to review the performance and results and must feel themselves accountable for any discrepancies. If any deviations arise, they need to take appropriate measure so as to resolve them ethically, logically and legally. Assessment 3 Barriers to e-Business adoption Despite of being the most cost effective and easy to use system, ecommerce brings certain barriers with itself which makes it a bit difficult to adopt and for this reason, for most of the entrepreneurs and customers, it is not the ideal way of doing business. According to the opponents of Ecommerce, there are some barriers which need to be eradicated for the successful implementation of ecommerce. These barriers include: IT Skills Literacy/ Training Trust/ Confidence Change in Business Processes ...Download file to see next pagesRead More
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