impact of e commerce on business essay

As the company grew, it peaked in 2001 and was hit by controversies including Malcolm Walker being accused of selling the company’s shares and later resigning. Unfortunately, your browser is too old to work on this site. There are nearly 200 million Internet users worldwide currently. The advantages of this working scenario not only include convenience but also offer a conducive environment to take part in activities that aid in generating revenue. Management Decisions, 38(7), 445-452. January 14, 2020. https://ivypanda.com/essays/the-impact-of-e-commerce-on-business/. An IBM Guide to Doing Business on the Internet. E-commerce has a significant impact on business costs and productivity. The quality of my essay was worth the money I had paid. Additionally, information gathered online concerning the desires of customers will aid the firm to be in contact with demand and supply curve hence always striving to stay competitive. E-Commerce 2011. To conduct e-commerce business on internet are now more easier and faster, has a few of medium from application that included in gadget can, The effects of E-commerce in Global Trade E-commerce business models are different from traditional business models because e-commerce offers firms different market opportunities and changes organisations’ revenue models, competitive environments and advantages, which are core elements of a business model. Understand the impact of e-Commerce on business According to Kalakota & Whinston, 1997 these include increase crime rates that are not easily detected, the real time production of goods and services have and will continue to create stock crisis, there is potential of loss of resources as well as underutilization of the same (people will lose jobs and rates of disposed equipment will increase), unavailability of power, ICT manpower, telecommunication facilities leaves some communities especially in third world countries at a disadvantage, social division and broken human interaction that creates and nurture trust. However, it is established that there are a host of drawbacks associated with e-commerce such as increase in criminal activities, ethical issues such as firing employees as a result of automating some tasks, technical issues, compatibility problems as well as legal implications. The whole idea centers on buying or transaction via the internet. Airlines are turning to e-commerce to keep business flying, and the reason they are focusing on selling tickets through their Web sites is that it is the cheapest distribution channel. It is worth noting from the onset that just like any other business and for that matter a normal concept, there are both benefits and draw backs associated with introduction of e-commerce to any business organization. It is however important to note that the full impact of e-commerce on an economy depends on several factors such as the rate at which the economy adopts e-commerce. E-commerce is considered to be one of the ways of increasing profits in firms. The impact of e-commerce on business Electronic commerce also known as e-commerce can be defined as the process of conducting business electronically or through the internet, a website, … It is worth mentioning that. Transformation in the Marketplace: ii. E-commerce has the potential of making a firm cut itself an edge and stay competitive even during economic hard times, as it can learn and promote its image to different market segment depending with their needs, thus promoting market expansion and consequently, high sales volume. The association will be effective if there is a clear supply chain management which will in the end boost sales. This will be attained by novelty to have room for the needs and aspirations of customers from the ground. E-Commerce has a chance to be widely adopted due to its simple applications. Fast Growth of Business:. International Journal of Electronic Business, 4(5), 380-400. (2020, January 14). Technical hiccups can also hit the innovation and this might include failure of the web site, problems with the surrounding environment, failure in power systems, failures in hardware and software as well as virus attacks (Bonnett, 2000). From the customer satisfaction and availability of services, online shopping is creating a major impact upon the retail stores. With this come the concepts of convenience and reliability. Essay On E-Commerce. Definitions of important terms are also presented. E-commerce has provided not only a quick way to exchange products and services, but also provided the most efficient and convenient way of accomplishing the transactions involved in this trade (Syed and Raisinghani 13). New York: McGraw-Hill. Although the current generation is capable of living up to this kind of idea, the older population is yet to embrace this kind of technology and they still prefer the human contact (Wyckoff & Colecchia, 2000). The documentation is about the process of implementing an e-commerce solution for the The role of E-commerce in business is that it helps in the exchange of goods and services through electronic support. It is worth noting from the onset that just like any other business and for that matter a normal concept, there are both benefits and draw backs associated with introduction of e-commerce to any business organization. Electronic Commerce: A Manager’s Guide. Bonnett, K. (2000). The method used to arrive at the conclusion in this paper is through an analysis of secondary data from existing books, journals and internet sources. It reduces transaction costs; allocates recourses better; increases economies of scale; improves the competitiveness of business in general; increases efficiency; generates important changes in the management and production processes of business. Since the introduction of the Internet in the 1950’s, development of technology began for use by the military until it was soon introduced to the public for commercial and private use. The last section of the paper is the conclusion which entails a … What’s your deadline? Malcolm would later join the company in, The Importance Of A Independent Audit Is Stronger Than It Ever Has Been Essay, Results And Selection Of Study Selection Process Essay, Indian Investment And Trade : India Essay, Estimating Exchange Rate Volatility With Garch Models Essay, The And Finance Executives When It Is A Financing Option Of Last Resort Essay. The paper begins with the positive contribution of the technology. (2003). Information exchange was constraint in transnational business but e-commerce provides... iv. The next section is the main body tackling the impact of e-commerce to businesses. In a well thought out PowerPoint presentation, discuss the impact of e-commerce and digital technology for small business. IvyPanda. E-commerce is a term describing a new and innovative more efficient way of doing business completely by use of the internet, to conduct trade dealings both on a national and global scale. Having in mind that changes are always part of human life, advent of new technology will always present a challenge to the business. As a result of trying to meet these demands and needs, there will be room for the firm to develop new products to cope up with ever tightening competition in the business environment. The electronic and social impact of e-commerce. For the simple reason of adopting the innovation, paper work will be tremendously reduced. Business called E-Commerce. 1. Firms have rushed to adopt e-commerce which entails making transaction online with the belief that it will help them gain competitive advantages and increase their market shares as well as revenue. Many facets of retail trade have been changed. It is worth noting that what this brings in elimination of the poor timing in production and possibly cutting down on wasting of resources and time. As commerce is one of the essential activities for practically any business, the concept of e-commerce is topical in today’s world. This includes business-to-business (B2B), business-to-consumer (B2C) and business-to-government (B2G) transactions. Many people nowadays are excited to explore the application was provided into gadget such as mobile smartphone, tablet, Ipad, etc. "The Impact of E-Commerce on Business." The key to the success of e-commerce is the fact that it … If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. In E-Commerce, More is More. 1.1 Critically discuss the expectations of internet customers……………….………4 This paper has identified the pros and cons of adopting e-commerce. Providing great reach and the potential for rich interaction, the internet is a natural medium for travel transactions. Iceland Food Ltd By 2003, the company had collapsed (Hoover, 2009). Retrieved from https://ivypanda.com/essays/the-impact-of-e-commerce-on-business/. E-commerce means electronic commerce. 1.2 Critically assess the potential impact of common applications on an e-Commerce business……………………………………………………..........…8 Similarly, with advancement in technology, there are those who after acquiring the full details of customers, hack their bank accounts and transfer money to unknown accounts (Eisingerich & Kretschmer, 2008). Institution E-Commerce as an impact factor in modern economic. As a result, this will call for the firm adopting this kind of technology to set aside funds that will be used to educate potential and willing consumers so that they become confident in using e-commerce. One notable technology that has propelled a number of organizations to greater height is internet-e-commerce (Coulter & Vogel, 2004). The main way in which e commerce will affect the economy, in general, is its impact on productivity and inflation. Since the advent of computers, mankind has experienced an unmatched surge in development of new and cutting edge technologies. This has in turned led to improved quality of life making people to work from their homes. Eisingerich, A. "The Impact of E-Commerce on Business." Role of eCommerce in Business. (2000).The Economic and Social Impact of Electronic Commerce: Preliminary Findings and Research Agenda. The only thing a firm needs to do is to develop a well thought and managed website where its products and services can be accessed. Additionally in situations where there are serious complains, there is no perfect opportunity like face to face interaction. Laudon, K. & Traver, C. (2010). Impact of e commerce in Business Strategy. The new transaction mode of purchasing and supplying goods has become explosive in terms of efficiency, competitiveness, Over the years, E-commerce (Electronic Commerce) has brought lot of changes in the business world. The Impact of E-Commerce on Business Essay 614 Words | 3 Pages. The post Impact of e commerce in Business Strategy appeared first on Ink Essays. In recent past, there are cases reported where hackers get into businesses data bases and obtain full details of customers (Chaudhury & Jean-Pierre, 2002). E-commerce currently affects large sectors such as communications, banking, Impact of Technology in Business – E-Commerce Nissanoff, D. (2006). This process of buying and selling online is referred to as e-commerce. The focus of e-commerce is on the systems & procedures whereby financial documents and information of all types are exchanged. Throughout the decades ever since, technology was then on the road to sudden rapid expansion, with a big boom in new hardware, software and internet capabilities … It is worth mentioning that there are a group of people who will resist doing business through this kind of platform and will prefer doing business the traditional way. They use techniques such as better services, lower prices, and customer feedback to lure more customers into their businesses. E-commerce has been simply defined as a use of electronic range of networks to simplify, resolve, improve and pace up the various stages and processes of business like buying and selling and delivery of goods and services. It is worth noting that doing business around the clock will attract more potential customers especially those who do not have time to physically come to the offices to place an order. Pets.com, Inc.: Assessing financial performance and risks in the e-commerce industry. For full functionality of this site it is necessary to enable JavaScript. Therefore, the impact to the whole organization, consumers, current market and legal issues can be very dramatic (Kotler, 2009). Task 1: 1.1.1 Mellahi, K. & Johnson, M. (2000). They later use these details to steal money from unsuspecting customers. Examining the e-commerce important question is what impact ICT and the Internet have had on the productivity growth. organization in order to have a proper idea about the problem scope and the background. E-commerce have a profound positive impact on the environment on the basis of the fact that online shopping enables people to order and receive their goods by sitting at their house, which definitely reduces the driving of a considerable number of customers to shopping mall thereby reducing the polluted emissions from the vehicles. By definition, e-commerce has been thought of as a employing “electronic communications and digital information processing technology in business transactions to create, transform, and redefine relationships for value creation between or among organizations, and between organizations and individuals” (Bonnett, 2000). Meanwhile, it has also created many challenges and adverse effects, such as concerns over privacy, consumer protection, and security of credit card purchases, displacement of workers (especially low-status ones), and is charged with having a negative impact on quality of work life.] Web. It is human nature to interact while doing business; this usually fosters the concept of building customer trust. It is evident that e-commerce will help an organization to reach to a wider market not initially thought of (Kalakota & Whinston, 1997). Although adopting e-commerce sounds heavenly send solution to doing business in the 21st century, Lefebvre et al 2001 note that there are very serious issue regarding customer trust and lack of human contact while carrying out transaction might be a blow to the desires of any firm which seek to have a direct contact with its customers. And selling online is referred to as e-commerce customer trust tremendously reduced it offers has come with low level... 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