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Business Project of Romanian Assignment

Added on - 04 Jun 2020

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BUSINESS PROJECT
AbstractThe project aims to determine the evolution of e-commerce within the Romanianbusiness environment. The issue identified has e-commerce contributed to growth anddevelopment of the Romania business environment. For the present study, the researcher hasapplied descriptive research design to address the research issue and comprehend the studyefficiently. Deductive research approach has been used by the researcher to testify theassumptions and validating the hypothesis of the study. Qualitative research method is used foranalysing the descriptive data and hence, in the present study, qualitative research method hasbeen used to analyse the descriptive data collected from interviews. For this research wereinterviewed 20 Romanians which are living in UK and they also know Romanian e-commercesituations to understand the evolution of e-commerce in Romania and to analyse the differencebetween UK and Romania E-commerce. Secondary source of data is interpretation of datacollected by others. The researcher has access to different relevant websites, books and journal tointerpret the data. In the present study, the researcher has used thematic analysis to analyse thecollected data and interprets it effectively which will be easily comprehensible for the end usersof business project.
Table of ContentsTITLE..............................................................................................................................................4CHAPTER 1: INTRODUCTION....................................................................................................41.1 Introduction...........................................................................................................................41.2 Research Aim........................................................................................................................51.3 Research Issues.....................................................................................................................51.4 Research Objectives..............................................................................................................51.5 Chapters Summary................................................................................................................5CHAPTER 2: LITERATURE REVIEW.........................................................................................7Barriers in e-commerce business of Romania.............................................................................8Regulations related to internet transactions..............................................................................11Ways to promote positive attitude of customers towards e-commerce.....................................14CHAPTER 3: METHODOLOGY.................................................................................................15CHAPTER 4: ANALYSIS AND DISCUSSION..........................................................................18CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................265.1 Conclusion...........................................................................................................................265.2 Recommendations...............................................................................................................265.3 Personal Reflection.............................................................................................................275.4 References...........................................................................................................................28APPENDIX I.................................................................................................................................32
TITLEThe evolution of e-commerce within the Romanian business environmentCHAPTER 1: INTRODUCTION1.1 IntroductionIncrease in global expansion and rigidity in globalisation and liberalisation policiesaffects the marketers and organisations greatly. Now business are expanding rapidly and with thehelp of evolved technologies organisations able to enhance customer base and profits efficiently(Voineagu and Begu, 2016).E-commerce or electronic commerce is the terminology that is usedby the business that involves transfer of information across the internet. E-commerce (electroniccommerce or EC) E-commerce (electronic commerce or EC) is the buying and selling of goodsand services, or the transmitting of funds or data, over an electronic network, primarily theinternet. These business transactions occur either as business-to-business, business-to-consumer,consumer-to-consumer or consumer-to-business. The terms e-commerce and e-business are oftenused interchangeably. The term e-tail is also sometimes used about transactional processes foronline shopping. As the information technologies and systems are thriving ceaselessly, businessorganisations are formulating and developing different methods that helps in improving thebusiness practices and leads towards growth and development of the organisation. Romania isconsidered as biggest e-commerce industries in South-eastern Europe (Popescu, 2015).According to the data acquired from GpeC (eCommerce awards Gala) there about 5000online shops active on the Romanian market and majority of the populations prefer onlineshopping in the country (Ecommerce in Romania,2018). The online retail sale in countrysurpasses 1-billion-euro mark in year 2014 in 2016 it reaches to 1.8 billion. As the agility andaccessibility in internet plans increases, smartphone penetration in the country enhance, majorityof population of the country diverts from traditional shopping to digital shopping (Nica, 2015).The e-commerce business organisations further provide effective offers in order to attract thecustomers towards online purchase of products and services. 19 million people reside inRomania out of which 9.4 million uses e-commerce for online transactions. This is nearby 50 percent of the total population. The figure shown below is the estimation of number of users thatwill be increase in 2021 (Turban and et.al. 2015).4
The business project will be formulated in the systematic manner so that end users can easily andefficiently comprehend the concepts. Research methodology shows the design, approach andstrategy of research along with data collection, sampling and analysis. The data will be collectedfrom 20 Romanians living in UK but with deep knowledge about past and actual Romanian e-commerce situation by conducting interview survey. Data analysis and discussion will beprovided in the project and eventually best recommendations will be provided by the researchersthat will help Romanian organisations to increase their productivity, profitability and users.1.2 Research AimAim“The aim of this project is to determine the evolution of e-commerce within the Romanianbusiness environment.”1.3 Research IssuesHas e-commerce contributed to growth and development of the Romania business environment?In the research project, the issue has been identified by the researcher whether, e-commerce contributed to growth and development of the Romania business environment? In thelight of this statement, the researcher will conduct the in-depth research by analysing thebusiness organisations that trades online.1.4 Research ObjectivesTo attain the aim of the research had been formulated following research objectives:1.To Investigating the significance of e-commerce in the business environment2.To Examining the impact and importance of e-commerce to the Romanian businessenvironment3.To Investigating how the present e-commerce practises in Romania can be improved.1.5 Chapters SummaryBusiness project must be done in systematic and structured manner. To increase theeffectiveness of the research, this research was classified in five chapters. The summary ofchapters is described below:5
Chapter 1- Introduction:Introduction is the beginning and first chapter of present businessproject. The researcher will provide brief information about the project including aims,objectives and research issues.Chapter 2- Literature Review:The motive of literature review is to provide theoreticalframework to the study. This is the second chapter, where researcher will identify, analyse,interprets the review proposed by senior scholars, researchers and authors about the evolution ofe-commerce in Romania.Chapter 3- Methodology:Research methodology demonstrates the structure and methodsapplied in the business project. This is third chapter where researcher will discuss the precisemethodologies which will be used to conduct the business project smoothly.Chapter 4- Analysis and Discussion:In research project or dissertation, analysis and discussionchapter are considered as very important one. In this chapter, the researcher will transmit thegather information to the end users. This will help them to understand the flow of project.Chapter 5- Conclusion and Recommendations:This is fifth and last chapter of business projectwhere researcher will sum up the study. In this last part will be discussed things which werecovered in the business project.6
CHAPTER 2: LITERATURE REVIEWThe significance of e-commerce in the business environmentIn argument of Brinkmann, (2014), E-commerce stands for electronic commerce andthrough the electronic media it pertains to trade in goods and services. As per Ilie, Bălăceanu andApostol, (2015), an important role is being played by the e-commerce in the online business. Inthe online market to reach out to the new customers it is one of the best and cheaperintermediate. A smart way of conducting business is being offered if e-commerce is effectivelyimplemented. By making use of e-commerce in the business the sale revenue will increase.The business is being revolutionized by E-commerce with a wide range of onlineactivities of business for product and services are being introduced by E-commerce. Over theelectronic system such as internet and other computer network e-commerce refers to the buyingand selling of the product and services as stated by Popescu and Benea, (2017). This systemdepends on the technologies such as electronic funds transfer, supply chain management. Withthe use of e-commerce, the business today has become more efficient. Less money is beingspend by the people in the business and they reach huge profit with e-commerce. The use of e-commerce has given more flexibility to operation of the business as today business can operate24 hours a day. Based on the fact where time is essence e-commerce proved its importance. Thetime plays an essential role to both the business and consumers in the commercial markets.Theonline retail sale in Romania surpasses 1-billion-euro mark in year 2014 in 2016 it reaches to 1.8billion. As the agility and accessibility in internet plans increases, smartphone penetration in thecountry enhance, majority of population of the country diverts from traditional shopping todigital shopping.From the perspective of the business during each transaction less amount of time is spentand on the same day more transaction can be achieved. For the consumer during their transactionit will save up more time. Due to these e-commerce steps in and it has replaced the traditionalmethods in which the single transaction can be cost both parties a lot of valuable time. Accordingto Andam, (2014), with the use of internet with ease a transaction or order can be placed withjust few clicks in a minute. For example, in comparison with the traditional method a bankingtraction can be done through the internet within a few minutes.7
In comparison to traditional methods more time will be consumer to complete thetransaction where this is not case with e-commerce it will hardly take about few minutes tocomplete the transaction. It is thus proved that for both the business and consumer e-commerce isbeneficial as with greater efficiency the payment and documentation will be completed. Incomparison, with the tradition methods e-commerce is more cost effective from the viewpoint ofbusiness according with Voineagu and Begu, (2016). The process for the middle person to selltheir product will be saved through e-commerce and it will be diverted to other aspects of thebusiness. Only a head office is needed to run an e-commerce business so with the use of e-commerce in the business much of the cost can be reduced.Barriers in e-commerce business of RomaniaNica (2015)stated that though Romania is providing good market facilities to itsentrepreneurs, the customers are still in their beginning stage. There are various features thatkeep customers away from using e-commerce services and products. The foremost barrier is alack of trust in internet resources to disclose their banking details. There are limited courierservices, and further restriction in using credit and debit cards restrict companies within theirgeographical location. The e-commerce stores such as e-Mag are not promoting its business tonew customer segments. As a result, they are unaware of crucial information and itsimplementation in the industry. There is limited number of certificate authority in theinfrastructure of e-commerce business.Seer, et al. (2012), informed that though the use of internet technology is growing fast,there is a large proportion of population, who find computer equipment expensive to purchase.So, they could not reach the service provided by the e-commerce industry. This factor limits thepotential of e-commerce industry to attract new customers. The economic condition of thecountry is still underdeveloped and faces difficulty in keeping its telecommunication companiesup to date in the service. The lack of technological barrier in the development of e-commerceindustry in Romania. At present, the government of Romania is working to modify its regulatoryreforms to expand its e-commerce business.8
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