Nobody downloaded yet

Importance of Planning and Modelling for Successful E Business - Essay Example

Comments (0) Cite this document
Summary
The world has shrunk to a small speck called E-commerce, where it is now possible to exchange goods and money in the form of normal transactions. "Shopping on the Internet or online shopping, as it is more popularly known, is a form of shopping that has almost emptied shopping malls in various parts of the world" (Chaffey, 2007).
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.1% of users find it useful
Importance of Planning and Modelling for Successful E Business
Read TextPreview

Extract of sample "Importance of Planning and Modelling for Successful E Business"

Download file to see previous pages So what is it that is supposed to draw him Similarly, the housewife cannot smell the coffee beans that she is being offered on an online grocery store - so how does she know it will be something that she will relish every morning
These are the questions that are often asked in the arena of online shopping. In this regard, all the answers point towards a specific simulation application that may be used and categorised as aids in online shopping. E-commerce is currently an extremely vast field and requires the use of like HTML and Flash based applications for appropriation of simulation techniques where the online market place is concerned. The problem in this project mainly adheres to the fact that there are now a plethora of such models and theories. Thus, this has led to some amount of deliberation in terms of choosing the appropriate ones (Nemetz, 2002). Here, it may be noted that the competition in reaching an optimum model and plan for websites has been on a steady rise, thus making it difficult to pinpoint which of them is the best in terms of E commerce objectives.
It has been found that there has been a 94% increase for the year 2005 in the number of Britons buying products online as opposed to the 37% figure of five years ago (news.bbc.co.uk). This further implies the fact that E-Commerce is now a major field generating an excessive amount of revenue in the world of global economies. Owing to increasing trends in globalisation, there has been widespread exposure of people from all corners to products and services that are suddenly not out of their reach (Chaffey, 2007).

In this regard, the specific need areas of the people involved in terms of end users is a difficult area to study in order to arrive at the relevant simulation models and approaches. This depends largely on the demographic make up as well as the cultural influences, age, and product being sold. Therefore, E-Commerce is a vast subject to study and to find the appropriate simulation models for (Chaffey, 2007).

Scope of Planning and Modelling
The scope of business is decided by its advent upon various spheres of operation. To be effective, market intelligence is the foremost pre-requisite. In this regard, E-Commerce has been described along the following lines, in terms of its operational sphere:

Industry Association with various web pages: this gives rise to a certain amount of validation of the product and it elements, especially in terms of marketing and online shopping (Palmer et al., 2003). This can be seen in the example of www.indiamart.com which carries various industries and their associated companies'websites.
Availability of information: E-Commerce depends largely on the information system, which is an integration of knowledge management as well as the human effort as far as intellectual capital is concerned (Palmer et al., 2003). This can be seen in the PR based models of various universities in UK, US, Australia and other countries.

When described in context of these broad elements, E-Commerce can be referred to as the technological advancement in the arena of marketing which in turn gives rise to a whole new experience as far as shopping is concerned (Matsuo et al., 2003).

Decision Aids

In the world of increasing consumerism, the significance of decision aids is accentuated through a focus on market intelligen ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Importance of Planning and Modelling for Successful E Business Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1531718-importance-of-planning-and-modelling-for-successful-e-business
(Importance of Planning and Modelling for Successful E Business Essay)
https://studentshare.org/miscellaneous/1531718-importance-of-planning-and-modelling-for-successful-e-business.
“Importance of Planning and Modelling for Successful E Business Essay”, n.d. https://studentshare.org/miscellaneous/1531718-importance-of-planning-and-modelling-for-successful-e-business.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Importance of Planning and Modelling for Successful E Business

Statistical modelling..BUSINESS REPORT

...that are important to decide the value of a house and have a significant impact on the assessment process. The study of the factors other than the common factors is important to identify their role in the determination of the price or value of a home. Generally a realtor’s claim would always be that the location is the most important factor when it comes to determining the value of a house or home. The formulation of a model in this regard is attempted through ‘regression’. For concrete assessment of this claim, some elaborated factors are included in this exercise. A home or a house can generally be viewed in terms of the properties it holds internally and the...
12 Pages(3000 words)Essay

E-commerce and Its Importance in Business

.... [pdf] Available at: [Accessed 23 November 2012]. Cloete, E. & et. al., 2002. Small Businesses’ Acceptance and Adoption of E-Commerce in the Western-Cape Province of South Africa. The Electronic Journal in Information Systems in Developing Countries, Vol. 10,No. 4, pp. 1-13. Chang, K. C. & et. al., 2003. E-Commerce and Corporate Strategy: An Executive Perspective. Information & Management, Vol. 4o, pp. 663-675. DeLone, W. H. & McLean, E. R., 2004. Measuring E-Commerce Success: Applying the Delone & Mclean Information Systems Success Model. International Journal of Electronic Commerce, Vol.9 no. 1, pp. 31-47. Fariborzi, E. & Zahedifard, M., 2012. E-Mail Marketing: Advantages... ? E-commerce and Its...
12 Pages(3000 words)Dissertation

How Critical is Planning and Modelling in Delivering a Potentially Successful E-Business

...the customer support system if needed. Having talked about e-business, it is essential to know how important planning and modeling are, in order to make sure that the new venture on which we are embarking will be successful. So as to achieve this, we need to pre-plan extensively. In order to start an e-business, it is important to have a plan. But what exactly is a plan? One way of looking at it is as a road map, which is like a guide for ones development and operation of the business. An example of this would be...
9 Pages(2500 words)Essay

Successful Business

...6.64 4.95 5.38 3.14 Median 7.0 7.0 5.0 6.0 3.0 Mode 10 10 5.0 6.0 1.0 The data reflects that 'communication skills', 'degree level education' and a 'strong personality' are important in the making of good managers. 'Delegation skills' are not considered to have a large influence. 4. Age of the manager - the age variable was grouped into age brackets to understand the age profile of the respondents in the survey. The break up that was selected was a. 18-20 years b. 21 - 30 years c. 30- 40 years d. 41 - 50 years e. 51 - 60 years f. 60 years + b) Hypothesis Testing The general research question - Do the factors which influence the making of a successful manager differ based...
10 Pages(2500 words)Assignment

Building Successful e-Business / Wedding Products

...for any new start-up business. Considering this as an opportunity, we are planning to start an on-line business offering wedding products. This facility will offer wedding products to online customers with special emphasis on the success of such business model in Saudi Arabia. The business model that we are proposing will be offering a customized and personal service to the clients based in Saudi Arabia and would further offer a state of art online facilities to customers facilitating them in deciding about purchasing different items. This report will present a comprehensive analysis of different...
6 Pages(1500 words)Assignment

SUCCESSFUL STRATEGIC PLANNING

...role players who should ensure that the strategic plan is effective and usable. The leaders have to lead by example. They have to live, model and constantly articulate aligning the organization’s business processes to its strategies. An important way to monitor progress is to collect feedback and make ongoing improvements. It is wise to set up a planning and evaluation team which closely monitors progress and analyzes the reasons for shortfalls. Develop a system for reporting the strategic planning data and results to the administration and key stakeholders. The strategic plan once written should be revisited often to...
3 Pages(750 words)Research Paper

E-commerce and its Importance in Business

...E-commerce and its Importance in Business Introduction The dissertation will be about the detailed study of importance of e-commerce in the present business environment. The study proposes to offer examine and present how e-commerce has succeeded to change an organization’s system of operation. Furthermore the study will also investigate about the way by which e-commerce helps the customers and whether e-commerce is more advantageous or it acts as a cause of concern. The study is therefore significant as it will uncover the pros and cons of e-commerce. Hence the...
5 Pages(1250 words)Research Proposal

BUSINESS SIMULATION MODELLING

...Business Simulation Modelling Table of Contents Table of Contents 2 Problem Formulation 3 Data Collection and assumptions 4 Validity of Document 6 Model construction and programming 6 Validity of Programmed model 7 Designing and analyzing experiment 8 Simulation Result 9 References 10 Problem Formulation The term simulation means to imitate (Baudrillard, 1994, p.112). Simulation in general term involves development of a model of real phenomenon (Bhattacharya, 2009, p.116), then making experiments on the evolved model. In simulation, a provided system is copied and manipulation is made with the associated variables and constants to analyze...
4 Pages(1000 words)Essay

Business modelling

...of the problem that may be supplies, demands, and costs are all in full figures, (Thapa, 2003). Then there is a whole number answer. The importance property is that one does not need to execute the difficulty of using integer constraints to obtain a solution that contents the limitations. 3 Monte Carlo simulation According to David Gale, (2000), Monte Carlo simulation is also referred to probability simulation. It is a mathematical technique used to establish an understanding of the impact of the occurrence risk and uncertainty in financial, project management, cost, and other forecasting models. David Gale, (2000) says that when one develops a forecasting business...
8 Pages(2000 words)Essay

Business modelling

.... This simulation helps mangers and planners in organization look at all possible outcomes of a given decision or process that will affect the future trends of the business. With all the outcomes in display, the planner will have to choose on the best process that highly increase and at the same time reduce the costs to a minimum (Léon and Reveiz 2012). Monte Carlo simulation can be used in planning as it performs the analysis of risks that can be faced when a decision is made. This is done by building the possible models and the expected results. This will be achieved by alternating the value range for all the factors that are not certain in the given setting. For example, for a...
8 Pages(2000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Importance of Planning and Modelling for Successful E Business for FREE!

Contact Us