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E-Business is gaining consideration all over the world. It has got a number of benefits to the businesses as well as customers. However it is important that different aspects that have an impact on e-business and thus create barriers have to be studied so that it is successfully implemented. Further the future developments and role of technology has also been studied in this report. Overall the Unit 29 Internet and E-Business Assignment Copy has been quite beneficial in providing and covering all the aspects of online business. The key aspects covered in the report are as follows
E-Business is the administration in the way business is conducted by using internet. This includes various aspects such as sale and purchase of goods and services, providing technical support by using internet or using internet to manage internal business processes that may use operations, distribution etc. (Hodge& Cagle, 2004). The type of transactions may be classified based on market relationship of the supplier with the customer. These have been shown below
Based on the above discussion it can be said that for Concord Textile Ltd B2C & B2B would be best suited. The company can highlight the products and services available for sale, offers and also provide information on how to contact the company.
There are several benefits and barriers that are there for online business. These have been discussed below (Chaffey, 2011)
The E-Business is subjected to various security and legislative issues. Firstly the use of internet is vulnerable to virus attacks and hacking. It also results in challenges related to privacy, fair use and unethical & unauthorized access to information published on websites. Another issue that is associated with online business is the fraud related to credit card and payments. In order to protect the interest of both buyer and seller it is important that the issues are resolved by having suitable law in place. Laws such as Electronic Communications Privacy Act of 2000 ensure that privacy of employee at workplace is maintained. Cyber laws governing the internet activities cover wide range of topics including email privacy, identity theft and such issues. It is important that such laws are developed that can safeguard the privacy and enhance the online independence (Chaffey, 2011). At the same time the technology should be implemented in such a way that such threats are minimized and the impact such as of theft of information or unauthorized access to credit cards and bank account is not there.
Communication is the most important aspect of the business. Different modes of communication are available to an e-business. The mode of communication includes desktop computers, laptops, mobile and tablets. Laptops, mobile and tablets are portable while desktops are fixed devices. These devices are used to have communication between customers, suppliers and business employees. The postal mails have been replaced by emails. Meetings have been replaced by audio and visual conferences. Further communication related to new products, reviews, feedback and highlighting the key aspects (FAQs)can be done by chat or through messages. These modes of communication are used in different ways in different businesses.
Different e-business models can be used by companies to generate revenue. These are as follows (Afuah&Tucci, 2001)
Apart from the models that have been mentioned above the classification can be made for certain other models such as subscription model wherein the users are charged periodic fee or utility model in which the users pay based on the usage. The two models that can be used effectively by Concord Textile Limited are manufacturer model and merchant model. The manufacturer model will be based on efficiency improved customer service and better understanding of the customer preferences. The manufacturer model will be developed for direct sales of the products. The merchant model can be based on the virtual merchant wherein the online transactions will take place as virtual merchant in between the producer and the buyer. The virtual merchant in a way acts as virtual merchant. Another way the merchant model can be used is by providing web based catalog. This would provide the information to the customers on the new products, features of the brand. It also enables online ordering.
The two models that have been mentioned have combined benefits as well as certain benefits that are specific to the model. Both the models have huge capacity for generating revenue for the company. Firstly the number of online users is increasing. The popularity of online business is increasing and the users are finding it extremely useful. The merchant model will add to the cost of the company as the manufacturer will have to pay brokerage to the merchant. But this will be beneficial for the company as the number of potential customers visiting the website will be more. The manufacturer model will be more beneficial for the company as it will result in reducing the cost related to brokerage and at the same time result in efficiency in improved customer service and better understanding of the customer preferences.
E-Business has certainly revolutionised the retail market. There have been certain aspects like reduced cost and better client or customer need and project evaluation and opportunities in terms of the business growth. Currently the e-business models are focused on generating revenue for the However there are certain aspects that need to be considered for the future development of the e-business. These are as follows
Internet marketing is the revolution for the next generation. It has certainly opened up new avenues for business and at the same time created a lot of options for the customers. There are various benefits and limitations of the online or e-business for the companies and the various ways in which it can be used by the companies. The Unit 29 Internet and E-Business Assignment Copy highlights and discusses different aspects that have an impact on the business strategies for new users as well as for existing businesses. The report clearly highlights the different models, issues, modes of communication, security issues role of technology and other important factors that have a role to play in online business. Overall the report has been important in identifying the key factors that are important from the viewpoint of making successful ventures in e-business.
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