E-commerce needs to be used as a strategic tool to gain and sustain competitive advantage in the industry. Consumers can now purchase endless amounts of items online, from e-tailers, typical brick-and-mortar stores with e-commerce capabilities. Customization – E-commerce provides for customization of products and services, in contrast to buying in a store or ordering from a television, which is usually limited to standard products. These are developed by expert programmers who are a notch above the hackers and crackers themselves. By definition it covers a variety of business activities which use internet as a platform for either information exchange or monetary transaction or both at times. So MNCs have to study culture of each country and develop corporate ethical code. The macro environment consists of society, government, rules, and tax, politics, technology, economics etc. In the case of a sofa, you would want to sit on it, feel the texture of the fabric etc. (vii) Audience Sizing – On-line Marketers can learn how many people visited their web site and how many of them shopped at particular places on the site. An example of the impact e-commerce has had on physical retail is the post-Thanksgiving Black Friday and Cyber Monday shopping days in the United States. Cookie Preferences E-advertising also enables you to target the specific customers. People can now shop online in the privacy of their own homes without ever having to leave. The aim is to leverage the substantial potential for e-commerce to promote inclusive trade-driven growth in developing countries, particularly in providing small and medium-sized enterprises (SMEs) access to global markets. Privacy Policy Hence the area of the market can be increased. Therefore management needs to set up some kind of intrusion detection system an establish security policy. The Internet could end up like EDI without the emergence of the World Wide Web in 1990s. It is a dynamic, fast-paced environment, where innovation is critical for businesses that want to stay ahead of the competition. E-Commerce is Good for the Environment: Saving Fuel By Not Driving. Facebook attacks Apple over upcoming iPhone privacy measures, Apple requiring privacy notices from app developers, Main factors that can guide your UPS selection process, Guide to colocation and how to choose a provider, Salesforce Commerce Cloud (B2B and B2C options). 2. Here we focus on digitally enabled commercial transactions among organizations and individuals. New selling models such as shareware, freeware are emerging to maximize the potential of the internet. Normally e-commerce is used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet. E-Commerce - Security Systems. Share Your PPT File. Your company and the services that you provide get quick and wide exposure, within blink of an eye. The results are often easily measurable and quickly obtained. Unlike e-advertising, e- marketing is very subtle. In this environment, e-commerce will hasten the shift of market power of consumers, from a "product taker" to a "product maker". Dec 17, 2020, 10:28am EST. 2. Hence E-commerce does not involve face to face contact. 6. These steps have found wide favour all around due to their effectiveness in weeding out unwelcome access. EDI (Electronic Data Interchange) is widely viewed as the beginning of ecommerce if we consider ecommerce as the networking of business communities and digitalization of business information. Threats to the system Viruses, worms, Trojans are very deceptive methods of stealing information. Platforms that host e-commerce transactions may include online marketplaces that sellers simply sign up for, such as Amazon.com; software as a service (SaaS) tools that allow customers to 'rent' online store infrastructures; or open source tools for companies to use in-house development to manage. In 1979, the American National Standards Institute developed ASC X12 as a universal standard for businesses to share documents through electronic networks. As an immediate impact, these technologies … Consumer-to-consumer (C2C) is a type of e-commerce in which consumers trade products, services and information with each other online. and then you make the paym… These intermediary websites work as a platform between consumers and business suppliers. E-Commerce - Security Systems - Security is an essential part of any transaction that takes place over the internet. (xii) New groups, Bulletins board systems (BBSs) and Web committees help also buyers, sellers and people in general to have access to valuable information on diverse topics including information of cultivation for farmers. Internet ‘search engines’ such as “Yahoo” and “Google” give consumers access to varied information sources, making them better informed and more discerning shoppers. v. Customer Service – Customer service can be greatly enhanced by enabling customers to find detailed information online. (c) Floating Advertising – The floating e-advertising is a kind of a floating banner on the web site, which tempts the visitor to click on it. E-Commerce facilitates fundamentally the movement of goods from suppliers to customers. Customers can manage the increasingly Complex movement of products and information through the supply chain. On the World Wide Web, companies move beyond geographic limits to reach wider audience. Also, Payment gateways are vulnerable to interception by unethical users. Research from BigCommerce has found that Americans are about evenly split on online versus offline, traditional retail shopping, with 51% of Americans preferring e-commerce and 49% preferring physical stores. Online real estate services are provided by websites that show listing of houses, shops and flats put up for sale and rent. E-marketing allows marketers to create viral content, allowing viral marketing. Here you interact with the seller (Amazon), exchange data in form of pictures, text, address for delivery etc. 3. They can produce digital catalogues for much less cost than the cost of printing and mailing paper catalogues. the UK, Germany and Denmark), more than 80% of internet users shopped online last year (European Commission). The growth and acceptance of credit cards, automated teller machines (ATM) and telephone banking in the 1980s were also forms of electronic commerce. Together, these indicators can give policymakers and others a view of the e-commerce environment in their countries and across regions. using E- Commerce. As in the brick-and-mortar environment, they simply cannot compete on price or product offering. E-commerce platform options exist for clients ranging in size from small businesses to large enterprises. Money Thefts E-commerce services are about transactions, and transac­tions are very largely driven by money. Devising a strong online marketing campaign involves spending money, the cost of which is ultimately borne by the customer. Even popular social networking sites like Facebook(dot)com are allowing people to promote and sell products and services online and the introduction of computer and mobile based e-commerce application software like Shopify provides evidence of how e-commerce have boomed over the past 5 years. Example: Wood for furniture, soil, land, etc. As the years passed, building websites became less and less expensive. E-commerce can help automate the receiving process by electronically transmitting a packing list ahead of the shipment. Many branches of government are dependent on e-services or products in one way or another, especially when it comes to legal documents, registers, social security, fiscals and employment. Company management has to take steps to promote the website. Managerial Issues 13. Old users are more likely to use Internet for investment and more serious matters. On the contrary there are the auctions sites like Quickr(dot)com and Ebay(dot)com where the information about certain listed products and services are provided but the monetary transactions normally happen physically. When developing IT systems and applications to accommodate e-commerce activities, data governance-related regulatory compliance mandates, personally identifiable information privacy rules and information protection protocols must be considered. The management needs to view electronic commerce potential in the light of the competition and not just as technological advancement. The power of digital marketing is phenomenal. Mobile chatbots also provide e-commerce opportunities to businesses, allowing consumers to complete transactions with companies via voice or text conversations. Monday, January 6, 2020. Data security and network security are major issues. There are no physical market places and the entire process of marketing and selling of goods, takes place on-line or electronically. Electronic payments are playing a great role in import and export business. In addition management needs to form security policy. Customers are notoriously fickle-minded, and do not minding visiting a competing website just to avail even one-time benefits or discounts. The high cost on invoices and purchase order copies including time are saved a great deal due to E-commerce and Internet phase. Segments 12. Wider Audience- The internet provides businesses, access to millions and millions of people. Impact on the environment. Brand loyalty is related to this issue, which is supposed to be less impor­tant for online firms. iii. Banks such as ICICI Bank, HDFC Bank, State Bank of India have added secure payment gateways to process online bank­ing transactions quickly and safely. Ordering Systems- Taking orders from customers can drastically be improved if it is done online. Website of the company has to be constantly updated, which required research and skills and thus timing of updates are also critical. Something may be ethical in our country but unethical in another country. 07.07.2017; Online sales; With online shopping becoming ever more popular and convenient, more and more industries are flourishing in the world of e-commerce. The recycling rate in Europe is 80 percent and Asia is 93 percent. Some common factors are political, economic, social and technological (known […] A customer’s transportation costs and performance can be analysed, thus helping the customer negotiate rates and improve service. The objective is to get your site registered with the search engine so that the site appears as a link in search results of certain keywords-typed by internet user at the search engine like Google. 9. Enhanced Service- Development of E-Commerce equipped domestic providers to offer more services to clients. Two way interactions are now possible in video conferencing used for employee training and education. It includes implementation of ICT based system to store, access, manage and disseminate the environmental data and information. Major threats to present day e-commerce may be listed thus: i. 1. To assure successful implementation of e- commerce, management of the organization has to deal with certain type of issues. Business-to-administration (B2A) refers to transactions conducted online between companies and public administration or government bodies. E-tailing involves business-to-business or business-to-customers transactions. (ix) E-Commerce – E-commerce through Internet and web site can access and retrieve information very fast, compared to overnight mail and even fax. Especially when applied to business-to business relations, electronic technologies can lead to rationalisation of business processes and cost savings. Handling Human Resource Management Related Issues: Electronic commerce is changing the manner in which staff is recruited, motivated, trained and educated. Recyclable & Efficient Packaging. Under an e-commerce employer, many employees work from home, reducing environmental impacts of driving to and from their place of business. 1. Business to Customer or B2C refers to E-Commerce activities that are focused on consumers rather than on businesses. Essentials and Procedures 11. The Internet is a global web of computer networks that has made instantaneous and decentralised global communication possible. By using e-commerce, companies can reduce costs, improve data accuracy, streamline business processes, accelerate business cycles, and enhance customer service. Order completion is smoother than that of physical shops. The various objectives of the e-commerce can be laid down as follows: The business development can be done through the e-commerce being the primary and the basic object. In fact, small businesses can now build their own sites. E-marketing provides much better return on the investment made by the marketer. The Potential of E-commerce for SMEs in a Globalizing Business Environment Electronic commerce (e-commerce) technologies have the potential to lead to significant productivity gains at firm level. i agree with the list. In these days it becomes the mandate of the companies to double its customers, and this can be done by rendering the value add service and maintaining the quality. Sites such as depop, gumtree and shpock have made a massive name for themselves. Copyright 2007 - 2020, TechTarget If this criterion is met, then you can sell anything on ecommerce websites—gadgets, books, automobiles, grocery, toys, apparel, vegetables and digital goods such as music, e-books, software, air tickets, magazine subscriptions and the like. Security continues to be a problem for online businesses. (viii) On-line Marketing – It is easy affordable by small firms, who otherwise would not have been able to advertise in the print or broad cost media. E-commerce will give businesses more flexibility in managing the increasingly complex movement of products and information between businesses, their suppliers and customers. E-commerce means using the Internet and the web for business transactions and/or commercial transactions, which typically involve the exchange of value (e.g., money) across organizational or individual boundaries in return for products and services. The six markets could be worth a total of US$88 billion or more by 2025. What is E-commerce? Trade. To stop this problem from happening, a website must be scalable, or upgradable on a regular basis. 2. Product Promotion – E-commerce enhances promotion of products and services through direct, information-rich, and interactive contact with customers. (ii) Information – Customers can find reams of comparative information about companies, products, competitors and prices without leaving their office or home. For instance, a book retailer would be a B2C company such as Amazon.com. The customers also get benefited from the fact that he/she does not need to physically visit the shop for making the purchase. B2A services have grown considerably in recent years as investments have been made in e-government capabilities. There are various types of e-advertising: (a) Wallpaper Advertising – It changes the background of the web site to the chosen promotion. The web sites they create are easily understood by the visitors. The only tools needed to take advantage of this solution are a personal computer and an internet browser. Unless a sound virus-protection strategy is used by the ecommerce Solutions firm, these malicious agents can compromise the credibility of all ecommerce web solution services. Role of eCommerce in Business. There could be software/hardware compatibility issues, as some e-commerce software may be incompatible with some operating … 5. It could change consumers’ financial lives and shake the foundations of financial systems and even governments. Electronic commerce and the internet are fundamentally changing the nature of supply chains, and redefining how consumers learn about, select, purchase, and use products and services. It includes both renewable and non-renewable resources. 2. E-business applications turn into e-commerce precisely, when an exchange of value occurs. Many companies like IBM created independent division for formation .and implementation of e-commerce in the organization. There are several options through which the e-marketers can promote their product and services: 1. By highlighting the customer service, the companies are trying to subjugate a lion-share in the market. In 2017, Forrester Research predicted that the B2B e-commerce market will top $1.1 trillion in the U.S. by 2021, accounting for 13% of all B2B sales in the nation. E-environment is simply defined as the use and promote information and communication technology (ICT) as an instrument for environment and sustainable use of resources. E-commerce sales have increased dramatically by around 15% per year in the EU over recent years (E-commerce Europe). Today, there are innumerable virtual stores and malls on the internet selling all types of consumer goods. Few of them will have truly secure jobs in the traditional sense, and all of them will have to be willing and able to constantly learn, adapt, make decisions, and stand by them. Big e-tailing sites like Ebay(dot)com and Amazon(dot)com are making great business in this country. iv. Most items available on-line are cheaper with quick and easy shipping and returns. Along with physical retail, e-commerce is transforming supply chain management practices among businesses, as distribution channels become increasingly digitized. They also provide discounts and offers to engage the customers. E-commerce service designers now use multi-level identification protocols like security questions, encrypted passwords (Encryption), biometrics and others to confirm the identity of their customers. Digitally enabled transactions include all transactions mediated by digital technology and platform; that is, transactions that occur over the Internet and the web. 3. 1. The main way in which e commerce will affect the economy, in general, is its impact on productivity and inflation. According to data from ShopperTrak in 2017, physical store traffic on Black Friday declined by 1% year over year, and the two-day Thanksgiving-Black Friday period saw a 1.6% decline in traffic. Advertisements. Organizations are to be restructured and re-engineered in to a network based organization. Customers can access online banking services by using electronic devices like personal computer, laptop, palmtop, ATM, kiosks etc. Projections for e-commerce are sunny for Southeast Asia, where a joint study by Google and Singapore government investment firm Temasek last year predicted a 32 per cent CAGR for e-commerce in Vietnam, Thailand, the Philippines, Malaysia, Singapore and Indonesia. A business develops an interactive interface with customers via a website. Computer viruses are rampant, with new viruses discovered every day. E-business can broadly be defined as the processes or areas involved in the running and operation of an organization that are electronic or digital in nature. According to Rakuten Marketing data, in 2017, Cyber Monday, which features sales that are exclusively online, saw 68% higher revenues than Black Friday, which is traditionally the biggest brick-and-mortar shopping day of the year. Corporatized retail- brick-and-mortar. Hence, e-tailing is a subset of e-commerce, which encapsulates all “commerce” conducted via the Internet. These transactions are generally conducted through a third party that provides an online platform on which the transactions are carried out. After the order is validated, the order manager will notify the store's web server, which will then display a message notifying the customer that their order has been successfully processed. Everything you need to know about the E- Commerce. This has seen a particular boom over the last ten years. The e-Commerce 2.0 environment is built upon many interrelated systems and processes that require information to be exchanged dynamically. The application uses encryption technology to secure business transactions. It facilitates direct reach of customers and the bi-directional nature of communication. This gives instant shipping information access to anyone in the company, from any location. Under an e-commerce employer, many employees work from home, reducing environmental impacts of driving to and from their place of business. E-Commerce – Advantages: Convenience, Information, Fewer Hassels, Lower Cost, Relatively Building, Audience Sizing, On-Line Marketing and a Few Others. The environment of E-commerce in China keeps improving. The perceived disadvantages of e-commerce include sometimes limited customer service, consumers not being able to see or touch a product prior to purchase and the wait time for product shipping. Check out all the highlights from the third and final week of the virtual conference, ... Amazon Elasticsearch Service and Amazon Kendra both handle search, but that's about where the similarities end. That’s what’s really important in the world of e-commerce. Advantages 15. An organization is often influenced by the environment they work under. Nowadays companies are transforming themselves into e-commerce enabled organizations. Another example would be a job board. Whatever your trade might be, and whichever product comes from your labours, you now have the option, or more precisely the power, to e… As even the service can also be done through the net immediately, the customer service will be ballooned. 2. 3. The development of E-commerce is greatly concerned by people. Alaa Hassan says. They need to be accountable for the repercussions of their mass experiences. New technologies require new organizational approaches. Such growth, without due attention to the risks in an electronic trading environment, impacts on both business risk and audit risk. E-commerce also known as Electronic Commerce, refers to buying and selling of products or services over the Internet. This helps real estate companies to attract buyers. It reduces the cost of marketing campaign. Another e-commerce platform model is SaaS, where store owners can subscribe to "rent" space in a cloud-hosted service that does not require in-house development or on-premises infrastructure. This happens between many systems based on individual user experience and the context of a particular customer interaction or order. Global retailer spending on Artificial Intelligence (AI) will reach $7.3 … There have been cases when vital information like credit card numbers are stolen by hackers. Here we focus on digitally enabled commercial transactions among organizations and individuals. If properly done, one can achieve mass customization. As a result, the e-commerce market is growing rapidly, particularly the use of e-commerce on a business-to-business (B2B) basis to shorten supply lines and reduce costs. A few examples of e-commerce marketplace platforms include: Vendors offering e-commerce platform services for clients hosting their own online store sites include: In the United States, the Federal Trade Commission (FTC) and the Payment Card Industry (PCI) Security Standards Council are among the primary agencies that regulate e-commerce activities. Production cycle time is cut by 50 percent or more in many cases, especially when production is done in a different country from where the designers and engineers are located. Digital marketing is a subset of marketing that is used to promote a brand or product using one or more electronic technologies. Traditional companies such as Intel, Disney, Dell, and Cisco use their web activities to affirm their corporate identity and brand image. For example, Motorola gathers customer needs for a pager or a cellular phone, transmits them electronically to the manufacturing plant where they are manufactured, along with the customer’s specifications and then sends the product to the customer within a day. Brands are expected to lower search costs, build trust, and communicate quality. Once the customer fills the cart with items that he or she has shopped, the site should take the customer towards the payment gateway, which collects money electronically. The term ecommerce also encompasses other activities including online auctions, internet banking, payment gateways, and online ticketing. But many surveys have shown that online consumers have little privacy protection. E-tailing is a subset of e-commerce. This may well be true for the Asia-Pacific where there are more mobile phone users than there are Internet users. TOS4. Brands are, Threats to Present Day E-Commerce and Its Solution, E-Commerce: History, Meaning, Objectives, Features, Types, Need, Business Application, Channels and Other Details, E-Commerce – Objectives: Development of Business-Relationship, Better-Customer Service and Getting More Customers, E-Commerce – 9 Important Features: Technology-Enabled, Mediated,Universality,Intercommunication,Delivery of Information,Virtual Communities and a Few Others, E-Commerce – 5 Major Types: Business-to-Business, Business-to-Consumer, Business-to-Government, Consumer-to-Consumer and Mobile Commerce, E-Commerce – Need in Modern Business Era: Wider Audience, Cost Efficiency, Faster Information and Enhanced Service, E-Commerce – Business Applications: Sale, Purchase of Goods, Real Estate Market, Online Banking, Delivery of Goods, Import and Export, E-Tailing and a Few Others, E-Commerce – Channels: Commercial Channels and The Internet, E-Commerce – Essentials and Procedures: Product/Service, Processing Mechanism, Payment Gateway, Delivery of Product, After Sale Service and Reverse Logistics, E-Commerce – 4 Major Market Segments: E-Tailing, E-Advertising and E- Marketing (With Advantages and Disadvantages), E-Commerce – Managerial Issues: Formulate Ecommerce Strategy, Re-Engineering for ecommerce, Managing Ethical, Cultural and Legal Issues and a Few Others, E-Commerce – Impact of E-Commerce: Impact on Direct Marketing, Organisation, Manufacturing, Finance and Supply Chain Management, E-Commerce – Disadvantages: Security, System and Data Integrity, System Scalability, ecommerce is Not Free, Customer Relationship Problems and a Few Others, E-Commerce – Threats to Present Day E-Commerce and Its Solution. According to a report, small retailers that go head-to-head with e-commerce giants are fighting losing battle. Digital marketing techniques include Search Engine Optimization (SEO), Search Engine Marketing (SEM), content marketing, e-commerce marketing, social media marketing, display advertisement, marketing through SMS and on-hold mobile ring tones, etc. Need 8. Business Applications. They include electronic malls that guar­antee legitimacy of transactions. Impact of e-commerce With a wider choice of products and services offered to them, they can cast their preferences by describing what they want. Some of the important issues before the organizational management are explained as follows: Management has to develop e-commerce strategy based on the analysis of industry and competition. On safeguard to be taken regarding E-advertising is that advertisement had to be consistently monitored and controlled because if it is done poorly, it can severely damage the image of the company. Faster Information- The information superhighway permits speedy exchange of data across the world, which also means new information, is available faster. ... To demonstrate the concept in a brick-and-mortar environment, think of a retailer that stocks items that they make, but also stocks products from other manufacturers. The following are the impacts of e-commerce on the global economy: i. The Internet was conceived in 1969, when the Advanced Research Projects Agency (a Department of Defense organization) funded research of computer networking. 3. In addition, distribution centers that ship products to customers often dot unused land near major airports, reducing shipping time, thus decreasing environmental impacts. Ecommerce, or electronic commerce, refers to transactions conducted via the internet. Reply. E-commerce and the Environment. Following are the major business application areas where E-Commerce is used widely: By using E-Commerce, consumers can buy the various products and services from the different manufacturers. Next Page . 3. Types 7. Privacy Policy3. Factors affecting E-Commerce /Key Drivers of E-commerce/ Forces fuelling E-commerce There are many external environmental factors that can affect e- business. eBay is still the market leader in this niche, having established themselves in 1995. The main purpose of e-advertising is to reach out to a wider range of customers. Digital marketing is not suitable for marketing of industrial goods and pharmaceutical products making it useful for only specific categories of products, namely consumer goods. 1. (d) Ad Sense Advertising – This refers to companies’ paying major search engines (such as Google) to promote their business within the first three links that appear when a search is entered. These e-commerce platforms include online marketplaces such as Amazon and eBay, that simply require signing up for user accounts, and little to no IT implementation. In developing countries cost may exceed benefits in initial years of e-commerce initiatives. When taken electronically, orders can be quickly routed to the appropriate order-processing site. E-Commerce also allows suppliers to gather personalized data on customers. This can force larger brick and mortar retailers to open an online division. Social Media Marketing – This form of marketing means promoting company’s products and service on social media handles like Facebook, Twitter and Instagram – It is cost-effective because these platforms allow business to create profiles for free. For instance, one can effortlessly login to an online shopping mart under a stolen identity and make purchases worth thousands of dollars. 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