Adapting to E-commerce and Social Media in Business Development

This essay discusses the increasing importance of technology, specifically e-commerce and social media, for businesses seeking growth and competitive advantage. It highlights how e-commerce facilitates online sales and enhances customer interaction, while social media platforms enable direct engagement with target audiences and brand promotion. The essay also addresses potential drawbacks, such as online security risks, cybercrimes, and the spread of misinformation. It concludes that while technology offers significant benefits, businesses must carefully consider the associated risks and implement appropriate safeguards to maximize its potential and maintain a positive brand image. The effective use of these technologies contributes to enhanced business operations, improved market performance, and increased customer reach.

Essay

Table of Contents
Introduction .....................................................................................................................................1
Main Body ......................................................................................................................................1
Conclusion ......................................................................................................................................4
References .......................................................................................................................................5

Introduction
The increasing use of technology is leading to attract large number of users and business
organisation around the globe. The direct influence of tech savvy consumers are creating on the
e-commerce world is growing effectively around the globe leading the large number of business
organisation to move towards e-commerce and social media platforms (Ammar, 2019). E-
commerce allows the business organisation to sell their product and services using online
websites and also helping the customers to maintain a track of their purchase and altering the
methods through which the customers directly interact with the retailers. Also the increasing use
of the social media platforms like Facebook, Instagram, Twitter helps the business organisation
to directly interact with the target customers and make them aware of the product and services.
Adopting to new technology helps the business organisation to easily identify and interact with
their target customers and make them aware of their new services. It helps in enhancing the
overall profitability and productivity of the business and enhancing their brand image in the
marketplace (Ways Technology Is Changing Ecommerce, 2017). Adapting to new technology
help both consumers and business to find new opportunities and grow effectively in the
marketplace. As the consumers has number of options along with the various of tools that allows
them to gauge prices, determine various alternatives, finds stores and finds suitable products and
services. This report essay highlights the detailed description of adaption of new technology
including the E-commerce and social media by the business organisation.
Main Body
Adapting to new and advance technology has become the major part of business
organisation in today's growing competitive environment (Cho, Park and Kim, 2019). Adoption
of new and advance technology allows the business organisation to gain competitive advantage
and enhance their overall performance in the global market effectively. Use of well advance
technology like e-commerce makes it easier for the company to easier carry out their operations
and attract large number of customers (Technology Builds Better E-Commerce Experiences,
2021). E-commerce is the process of purchasing and selling of goods and services as well as
transferring of fund or data through an electronic network mainly through the internet. These
kind of business organisation transaction are carried out through business to business, business to
consumers, consumer to consumer and so on. It makes it convenient for both the business and
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consumers to carry out their activity and achieve desired goals and objectives (Flew, 2018). E-
commerce is one of the most commonly and effectively used formed of business which enables
the customers to buy their desired products from anywhere at anytime using the facilities of
online services or through the internet. In addition to this the impact that the tech savvy
customers are creating on the e-commerce world is not only stronger and effective but also faster
(Horst and Miller, 2020). Growing use of technology allows the customers to keep track of their
purchase more easily and effectively also it fixing the method in which the target customers
directly interact and connect with the online buyers and retailers (Zhang, 2019). The changing
trends are creating big impact on the relatively larger scale around the globe. As the technology
is evolving at the fast rate the business to consumer transaction, new opportunities for both
customers and business are emerging (Zhang, 2019). Consumers have direct assess to number of
tools that helps them in gauge prices, find other options available and also find the stores more
effectively. It also help the retailers in enhancing their performance, as well as the technology
helps them in building strong and long lasting relationship with the target consumers and
enhance their brand image in the marketplace (Kozinets, 2019). The use of mobile apps are
evolving the consumers and retailers relationships, the app offers great opportunity to the
retailers to directly connect with their target consumers that normally, as the brands don't have to
wait for their target consumers to physically visit their shop. Another growing technology that is
largely adopted by the business organisation in order to smoothly and effectively carry out their
operations and activity is the social media marketing (Li and Chan, 2019). With the large number
of users available on these platforms leading to attract business organisation to join these
platforms in order to increase their customer base and directly interact and connect with them.
The social media are the internet technology that let the users directly interact with the other
individual also share and create attractive content on the various social media platforms such as
Facebook, Twitter, Instagram, YouTube and so on. Also in case of the e-commerce technology
the personalised customers experience are largely evolving through the business (Miller and
Slater, 2020).
With the growing use of technology it is also creating negative impact on the business
organisation around the globe, one of the major negative impact of the technology is online
safety and security of customers data, also the increasing cybercrimes is also another negative
impact of the growing use of the technology. In addition to this the use of technology like e-
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commerce sites includes collecting and storing of personal data which is can be another negative
impact of the technology (Mohamed and Ali, 2018). With the growing popularity of these
platform among the users and business organisation, there is also increasing competition
additionally there is also certain risk of using these kind of platform such as there is risk of fast
spread of the wrong information about the business which can lead to directly impacting their
brand image (Zeng, 2018). Also there is legal problem if the right privacy laws are not followed
by the business organisation. The continuous presence of a brand's online app on a customer’s
mobile phone remind them of that particular brand from anywhere at any time, growing use of
these app also leads to creating threat to the safety and security of the individual personal data if
the apps are not secure (Park and Heo, 2020) The use of social media platform offers great
number of business opportunities such as promoting their brand among the customers also
creating strong position of the brand in their mind, but with the positive aspect the negative
aspects of the these platforms cannot be neglected by the business organisation and as well as by
the individual. One of the major negative impact of the social media is increasing cyber bullying,
around more than 10 % of the individual have reported being bullied on the social media
platforms and many other online websites through being subjected to offensive comments.
Twitter one of the social platform is the major platform for spreading rumours and hateful
comments and lies whether about the any company or any individual (Pride and Ferrell, 2021).
For example, recently the spread of Ronaldo who is one of the top footballer keeping the two
bottles of coca cola drink aside leads to huge fall in the profitability of the company. the
company’s revenue dropped down to a huge level due to spread of this news across various
platforms. The online social media platforms has a huge power to directly impact the profitability
and productivity of the business and also impact their brand image with just comment (Sen,
2018). Before using these platforms these factors needs to be taken into consideration by the
business organisation, also the safety and security of the customers needs to be effectively taken
into consideration. Determining all the factors and using all the necessary laws will help the
business to gain competitive advantage in the marketplace and enhance their overall
performance. The use of well advance technology like e-commerce and social media marketing
will allows the business organisation to easily carry out their activity and enhance their overall
performance in the marketplace. It will also help the business to gain competitive advantage
effectively (Yablonsky, 2018).
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Conclusion
From the above report essay it has been concluded that the growing use of the technology
is really beneficial for the growth and development of the business organisation, as the use of
technology helps the business organisation to smoothly carry out their operation and achieve
competitive advantage in the marketplace. The evolving of new technology like E-commerce and
social media marketing is one of the most growing technology which helps in smoothly carrying
out business and enhance their performance in the marketplace also helps in attracting large
number of customers. The use of E-commerce technology allows the business organisation to
reach target consumers everywhere even when the consumers are not purchasing, retailers can be
create strong position in their mind. The use of social media marketing offers number of
advantage for the business organisation such as it allows the business organisation to create
broad reach for the customers from all around the globe, also help the business to easily target a
specific group for example the social media platform like Facebook allows the business to target
specific group along with specific location. In addition to these platform are free or low cost for
the business to carry out their business activity. This report helps in analysing the benefits of
adopting new technology like social media and E-commerce platform for smoothly carrying out
business activity also the positive and negative impact of adoption of technology are also
highlighted in this report.
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References
Books and Journals
Ammar, J., 2019. Cyber Gremlin: social networking, machine learning and the global war on Al-
Qaida-and IS-inspired terrorism. International Journal of Law and Information
Technology, 27(3), pp.238-265.
Cho, S., Park, C. and Kim, J., 2019. Leveraging consumption intention with identity information
on sharing economy platforms. Journal of Computer Information Systems, 59(2),
pp.178-187.
Flew, T., 2018. UNDERSTANDING GLOBAL MEDIA (INTERLOAN 329770)-. Macmillan
International Higher Education.
Horst, H.A. and Miller, D., 2020. The cell phone: An anthropology of communication.
Routledge.
Kozinets, R.V., 2019. Netnography: The essential guide to qualitative social media research.
Sage.
Li, T.C. and Chan, Y.E., 2019. Dynamic information technology capability: Concept definition
and framework development. The Journal of Strategic Information Systems, 28(4),
p.101575.
Miller, D. and Slater, D., 2020. The Internet: an ethnographic approach. Routledge.
Mohamed, H. and Ali, H., 2018. Blockchain, Fintech, and Islamic finance: Building the future in
the new Islamic digital economy. Walter de Gruyter GmbH & Co KG.
Park, C. and Heo, W., 2020. Review of the changing electricity industry value chain in the ICT
convergence era. Journal of Cleaner Production, 258, p.120743.
Pride, W.M. and Ferrell, O.C., 2021. Foundations of marketing. Cengage Learning.
Sen, N., 2018. Understanding the role of the WTO in international data flows: Taking the
liberalization or the regulatory autonomy path?. Journal of International Economic
Law, 21(2), pp.323-348.
Yablonsky, S. ed., 2018. Multi-Sided Platforms (MSPs) and Sharing Strategies in the Digital
Economy: Emerging Research and Opportunities: Emerging Research and
Opportunities. IGI Global.
Zeng, M., 2018. Smart Business: What Alibaba's Success Reveals about the Future of Strategy.
Harvard Business Press.
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Zhang, C., 2019. Intelligent process automation in audit. Journal of emerging technologies in
accounting, 16(2), pp.69-88.
Zhang, Z., 2019. Two Essays on Crowdfunding: The Relational View for Funding Success.
Hong Kong University of Science and Technology (Hong Kong).
Online
Ways Technology Is Changing Ecommerce, 2017 [Online] Available through;
https://www.entrepreneur.com/article/288149
Technology Builds Better E-Commerce Experiences, 2021 [Online] Available through;
https://www.business2community.com/ecommerce/how-technology-builds-better-e-
commerce-experiences-02396272
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