logo

Incorporating E Commerce in Business PDF

12 Pages4196 Words56 Views
   

Added on  2021-06-18

Incorporating E Commerce in Business PDF

   Added on 2021-06-18

ShareRelated Documents
Running Head: INCORPORATING E-COMMERCE IN BUSINESSINCORPORATING E-COMMERCE IN BUSINESSInsert Your Name HereInsert Your Tutor’s Name HereInstitution AffiliationDate
Incorporating E Commerce in Business PDF_1
INCORPORATING E-COMMERCE IN BUSINESSHOW IS E-COMMERCE PROFITABLE?E-commerce is one of the technologies that is trending in the market today. E-commerce is also referred to as electronic commerce. Most businesses have ignored e-commerce (eCommerce, 2013), but they don’t know what there are missing out. Many existing business still have no idea the power of incorporating e-commerce in their businesses. This question has been researched bymost businesses over the internet. Most people don’t really understand what e-commerce is. Simply, e-commerce refers to making successful transaction over the internet. This means, businesses display their products and services on a website and potential customer will view the products, buy the products and pay for the services. When people buy and sell products and services online then, they are involved in e-commerce.Most businesses need to make profit in their business. Making profit is a goal for all business in the world. People with companies that do not return profit tend to shut down their business. There advising people to migrate their business to e-business then the question they tend to ask is “how is e-commerce profitable”(The Balance SmallBusiness, 2018). This question is an important question. The question makes the company lay out a plan before switching to e-commerce. The question has been asked by many people and most blogs have given a solution as to how e-commerce is profitable. There are many reason displayed on the internet on how e-commerce is profitable. E-commerce is profitable. This is the reason there are so many new e-commerce stores. E-commerce involves three main business areas. They include developing an e-commerce website, marketing and reliable customer support. E-commerce is very interesting technology. Research has been done on the online site available. Questionnaires and observation methods have been used to get the statistics of e-commerce businesses all over the world. From the research done, most companies prefer e-commerce due tothe increase of the profit margin. There is also a minor percentage of around 20 percent that is against e-commerce. Most of these people are the retailer. Most retailers don’t need to make theirsales online. Some retailers argue that the income that can be generated by using e-commerce hasno difference compared to making their transactions in the traditional way. About 76 percent
Incorporating E Commerce in Business PDF_2
INCORPORATING E-COMMERCE IN BUSINESSshoppers (Shmueli, 2008), do their shopping on online platforms. This means that 26 percent do their shopping using the traditional ways. The shoppers mostly do their shopping from Amazon.Another research is that most of those people who use e-commerce to buy products and services have a higher salary compared to those who use the traditional way. The online shoppers have income of $100,000 or more, while, the traditional shoppers have an income of $30,000 or less (Parks, 2018). The people with higher income have a tendency of buying more goods online, thus, the online business earning more profit. The traditional shoppers tend to buy few goods, therefore, the profit margin for the businesses is a bit low. Research shows that e-commerce business will be the ones left.To know whether e-commerce is profitable is for the organization’s advantage. As mentioned before, the business goal is to make profit. One of the main method to make big profit margins isvia e-commerce. Using e-commerce a company can reach a wider market. E-commerce offers a platform to make more sales via the website. Small business are expanding as a result of incorporating e-commerce in their businesses. The e-commerce has allowed the categories of e-commerce to be successful (Inc.com, 2018). The categories include: B2B, C2B, C2C and B2C (Eley and Tilley, 2009). E-commerce has laid out strategies that help business thrive. The payment solutions, supply management solutions, online auctions and wireless technology help the small businesses to grow, the small business tap into inventory and sell the products without taking ownership of inventory. The organization only requires to focus on digital media for advertising purpose. Upon using e-commerce, much data is collected in the system. This data is quite helpful for the business. An organization requires to add the analytic tools. The analytic tools such as Google Analytic is quite helpful. From the analyses data, the organization can tell the number of visitor that visit the website. The analytic tool makes very vital information, which, is used by the organization board to make the right decision. E-commerce has very many benefits to a business. Most business should switch to e-commerce.
Incorporating E Commerce in Business PDF_3
INCORPORATING E-COMMERCE IN BUSINESS2. REPORTIntroductionBeckom Company is a medium sized company that deals with supplying of electronic devices to various companies. The company was founded by Roberts Steven in 1988. The company has been operating for 20 years now. The core purpose of Beckom Company is providing electronic devices such as printers, laptops, scanners, internet cables, scanners, printers, photocopiers and other devices (Andrea Payaro and Anna Rita Papa, 2017). The company has really struggled to survive in the market by providing its product to the local customers and business. In 1999 the company opened 3 more branches in different locations a there was more need for the products in the areas. The branches of Beckom Company are in the major town in the country. The company has been using the traditional ways to make the sales and do the analysis of the sales (Prinz, 2012). The company has not yet incorporated the e-business feature in the business process. Over time the company has had not much profit margin, but has had less profit margin just to maintain itself.Over time, the business has been performing poorly much many other similar companies are taking over(Datta, 2010). The company has suffered several challenges such as poor customer communication, poor communication with the employees from different branches, poor management services, poor decision making, losses and increased competition (Sun and Hu, 2014) from outside, thus making fewer sales of their products. The effects are immense as they have led to financial losses, losing the customer loyalty and the issues are getting out of control (US consumers wary of password security for eCommerce; smartcards to give peace of mind?, 2008). The business is at a risk and is nearly closing due to the financial loses made within the past three years(Musa S, Norwawi and Selamat, 2012).After some consultation from a consultation firm, the founder was advised to incorporate e-commerce in the business as that is the trend of successful businesses. The e-commerce is to helpsolve the communication barriers been the company and the employees, the management and theemployees and employee to employee. By use of the e-commerce Beckom would be in a positionto reach more customer globally and problem get to open more branches. Access to more customers leads to more sales and thereby, generating a great profit margin. Over the past 10 years e-commerce has had a fast growth. Most businesses have switched their business to e-
Incorporating E Commerce in Business PDF_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Research and Decision Making.
|12
|3697
|4

E-commerce Development and Models: A Case Study of B2B Accounting Services in Australia
|20
|2461
|193

Impact of Online Shopping over Retail Industry
|5
|742
|316

The Impact of Online Shopping on High Street Stores in the UK
|10
|2686
|276

The Digital Innovation | Assignment
|10
|2150
|45

Impact of Online Stores on Shopping Behavior
|14
|4159
|1