E-business of Panfore Electronics - Essay Example

This paper presents a detailed analysis of some of the major aspects of the new organizational e-business strategy specifications for Panforte electronics (www.panfore.com). The company has a website that provides an overview of the business but it does not encompass any e-commerce-related activity. Seeing the importance of e-business in today’s business world, the top management of Panforte electronics, Inc has decided to establish a new web-based business or eCommerce platform that will help manage the business dealings and will offer better business market status. This new dimension of e-commerce for Panforte electronics, Inc will bring better competitive advantages.

1- INTRODUCTION Many aspects of the way corporations or individuals perform their operations and compete in the current period will be determined using a huge network of electronic networks that emerged as the information thruway but now it is known as the Internet (Turban, Leidner, McLean, & Wetherbe, 2005). The internet is a large network of networks that are used by millions of corporations, government agencies, educational institutions, and individuals to carry out their everyday work (Shelly, Cashman, & Vermaat, 2005, pp. 11-12) and (Norton, 2001).

The rapid growth of information technology (internet, e-commerce, information systems, etc) during the last few years has greatly influenced corporations. Additionally, at the present, e-commerce has become one of the most significant features of the Internet which has appeared in recent times. Normally, electronic commerce (e-commerce) refers to the implementation of business over the internet with the help of PCs that are connected in the form of a network. In more simple words, eCommerce is the process of buying and selling (products, goods, or services) using a digital infrastructure (Hendershot, 2011) and (EcommerceEducation, 2007).

The basic purpose of e-business is to help establish a business that is executed over the Internet or using Internet systems and technologies to enhance the prosperity or production of a company. On the other hand, this term can be used to explain some type of electronic business: specifically to express any company that makes use of a computer system. This practice is rather old-fashioned, though, in the majority of cases e-business denotes wholly Internet businesses. In more simple words, e-business refers to the process of offering and selling products, goods, and services using the web.

Thus, corporations can use e-business to reach a great deal broader customer base as compared to some customary retail shops with everlasting substantial sites could always anticipate. In this scenario, the role of e-business is acknowledged as eCommerce; however, both ideas are used identically. There is another fact about e-business, that is, it can be used to get access to cross-border products or supplies for domestic production. In this scenario, e-business is acknowledged as e-Procurement.

In this way, corporations can reduce their expenses radically. Moreover, a lot of e-businesses that work without having an electronic business platform at the present make use of e-procurement as a main method to effectively follow and run their purchases (McGuigan, 2011) and (Ray, 2004). Panforte electronics are among the major suppliers of power management solutions, such as eco-reactive chargers for notebooks, laptop computers, and mobile electronic devices (for example PDAs, mobile phones, digital cameras, and so on.).