Electronic Business is a newly found type of business which is conducted over the internet. This new technologies allows all companies to send and receive data between each other virtually in all technical standards. E-Business has three very distinguished application categories that contribute to this type of service. Enterprise Communication & Collaboration (ex. voice mail), Internal Business System (ex human resource management), Electronic Commerce B2B (ex online marketing). There are many advantage to Electronic Business such as Promotions & Marketing are cost effective, online business so that business are done worldwide, excellent customer service, and a competitive strategy is developed. "A firm engaging in e-business can have a nationwide or a worldwide presence". (1) Being viewed on a nationwide or even worldwide business scale will allow your firm to expand into a a new international customer database. This can open the doors to a large amount of new hungry customers to help grow your business and make it more successful. E-Business is the future to the online market for all consumers needs. A structured company has business plans and strategies that will work for their company and allows for adjustments. Thinking for electronic businesses must create a new online strategy to be successful in the online market world. "EBusiness activities are result of much more organized effort and a wholesome system through internet".(3)
Engaging in Electronic Business is moving your business onto the online market for consumers to be guaranteed to purchase products at a nominal price. One important asset of electronic business is the improved customer service. Most online business offer live chat logs with a customer service representative 24/hrs a day in case the consumer has trouble searching for a product or has difficulty with using the online company website. "Readily available customer service may help in encouraging the customer to know more about the product or service".(1) Think of online stores such as Amazon, Ebay, and Paypal, they all offer online customer support through a chat log with a company representative to help you with your problem. Customers can navigate through your store front on the web at their own convenience whether during store hours or afterwards. Companies that transition to the online business industry will overtime cut down on costs ending in overall more profit for the organization. "In e-business, there is often a reduction in costs required to complete traditional business procedures. Many of those same traditional business approaches can be eliminated and replaced with electronic means, which are often easier to carry out as well as easier on the pocketbook". (2) Instead of a company sending out 100-200 paper fliers advertising their products and offering coupons, electronic e-mail fliers can do that same job with none or little cost. Sending out bulk e-mail doesn't have a cost, its the original time put into the making of the flying and its free advertising.
1. Iyer, Aparna. "Advantages and Disadvantages of E-Business." Buzzle.com. Intelligent Life on the Web, 03/2010. Web. 24 Jul 2011. <http://www.buzzle.com/articles/advantages-and-disadvantages-of-e-business.html>.
2. Leonard, Stacie. "Volusion Ecommerce blog." E-Business and its Advantages. Volusion Inc., 10/08/2006. Web. 24 Jul 2011. <http://onlinebusiness.volusion.com/articles/e-business-advantages>.
3. Works, Harry. "WKBW." E-Commerce and E-Business differences. WLBW.com, 09/2009. Web. 24 Jul 2011. <http://guides.wkbw.com/E_Commerce_and_E_Business_Differences-a1110839.html>.
As I've stated on various posts, eBusiness should be one answer to our failing economy. By offering the consumer the best product and price at one site, online shopping is a flourishing and lucrative aspect of eBusiness. I don't agree, however, on the bulk email part of marketing. As a consumer, I find it aggravating and intrusive to find spam in my inbox, only to be deleted. If we "sign up" for our favorite internet site updates, then this is to be expected. Some businesses will share email addresses and blast mail to all on their lists. This not only clogs up the internet waves with junk mail, but annoys the consumer and can deter from the original intent.
ReplyDeleteGood use of examples (e-Bay, Amazon, PayPal), this helps show some of the bigger eBusiness competitors. Excellent point on showing how companies that use online business will cut down on costs making the profit bigger. Another great point was showing how sending emails is a form of free advertising. Companies should utilize this as much as possible because it gets your name out there for free.
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