To conduct e-commerce business on internet are now more easier and faster, has a few of medium from application that included in gadget can, The effects of E-commerce in Global Trade Indeed there are numerous advantages associated with this concept such as capturing new markets by allowing firms to go global, 24/7 operation this has been shown to bring with it the advantage of reliability and convenience which allows potential customers who do not have time to buy products and services regardless of time. Helpful in Globalization:. E-Commerce has a chance to be widely adopted due to its simple applications. Web. The sophisticated of technology in day by day is rapidly arising without us realize. E-commerce has provided not only a quick way to exchange products and services, but also provided the most efficient and convenient way of accomplishing the transactions involved in this trade (Syed and Raisinghani 13). We will write a custom Research Paper on The Impact of E-Commerce on Business specifically for you for only $16.05 $11/page. Prentice Hall. The Impact of E-Commerce on Business Essay 614 Words | 3 Pages. Many people nowadays are excited to explore the application was provided into gadget such as mobile smartphone, tablet, Ipad, etc. There are nearly 200 million Internet users worldwide currently. E-commerce is credited with empowering employees and knowledge workers, by giving them easy access to virtually unlimited information. This they do by sending customers mails which are fictions for instance one might be told that he or she has won a price and needs to send some cash to a certain bank account. The main features of e-commerce is that one does not physically feel an item nor sees it and places order on the basis of information supplied through website or in response to consumers inquiry, as yet e-commerce has last preference for daily consumption items. Operating a business has always been reliant on staying on top of emerging technologies. E-Commerce 2011. [ 8] W With the internet, consumers have access to a wider range of choices. The new transaction mode of purchasing and supplying goods has become explosive in terms of efficiency, competitiveness, Over the years, E-commerce (Electronic Commerce) has brought lot of changes in the business world. The whole idea centers on buying or transaction via the internet. The primary way in which E-commerce will affect the economy is its impact on productivity and inflation. The impact that e-commerce has had on how an operations manager address a situation can vary from extreme to barely noticeable. Fast Growth of Business:. (2000).The Economic and Social Impact of Electronic Commerce: Preliminary Findings and Research Agenda. Miller, R. (2002). Retrieved from https://ivypanda.com/essays/the-impact-of-e-commerce-on-business/. The main way in which e commerce will affect the economy, in general, is its impact on productivity and inflation. This will be brought about due to the multiple roles played by e-commerce (advertising and publicizing) (Bonnett, 2000). You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. under the outcome criteria of understanding, THE SWOT ANALYSIS OF E-COMMERCE IMPACT OF E-COMMERCE ON BUSINESS Name Institution Task 1: 1.1.1 Introduction In the UK, the retail industry is very competitive and every company is looking for a competitive edge over the other. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. Role of eCommerce in Business. It is also a fact that most customers’ critic some business concerning the products and services it offers. 2020. This paper has identified the pros and cons of adopting e-commerce. Failure to give this concept a serious thought might be a recipe for an organization to fail. Additionally this helps the firm cut down on operation costs in terms of space, power, and food to employees among others. The advantages associated with this technology has left almost all business firms whether big or small in size to consider adopting it with the notion that it will help them stay competitive and relevant in the current world of business. "The Impact of E-Commerce on Business." E-Commerce as an impact factor in modern economic. The major reason why people resist using internet to transact is due to lack of adequate knowledge on how the system works as well as reluctant to buy a product that cannot be physically examined. London: Addison Wesley Longman, Inc. Karyn, W. & Filson, D. 2001. E-commerce currently affects large sectors such as communications, banking, Impact of Technology in Business – E-Commerce Such a relationship will definitely result in a better relationship between the two that might lead to more market segmentation as well as customers’ satisfaction hence a potential to develop into a global market. A clear understanding of this legal provision is key in ensuring that any emerging legal issues for instance differing prices advertisement can be handle with clear precedent. Management has also had to learn how to adopt new technology with the growing e-commerce world. OECD Electronic Commerce Business Impact Project. Additionally, there is an economic as well as social impact as a result of the rate at which changes occur. An e-business … Electronic Commerce provides the capability of buying and selling products and information on the internet and other on-line service. New York: McGraw-Hill. By definition, e-commerce has been thought of as a employing “electronic communications and digital information processing technology in business transactions to create, transform, and redefine relationships for value creation between or among organizations, and between organizations and individuals” (Bonnett, 2000). (2020) 'The Impact of E-Commerce on Business'. This includes business-to-business (B2B), business-to-consumer (B2C) and business-to-government (B2G) transactions. It reduces transaction costs; allocates recourses better; increases economies of scale; improves the competitiveness of business in general; increases efficiency; generates important changes in the management and production processes of business. Chaudhury, A. 1. IvyPanda. Less than ten years old and it already has radically altered the potential to economic activities and the social environment. It has been argued that online communication can never be a substitute to face-face interaction. Using internet to carryout business has been deemed to be the most current innovation in the world of business and offers an opportunity to businesses to carryout business through electronics. Iceland Food Ltd was founded in 1969, when Malcolm Walker and Peter Hinchcliffe established the first store in Leg Street, Oswestry, in England. & Kretschmer, T. (2008). January 14, 2020. https://ivypanda.com/essays/the-impact-of-e-commerce-on-business/. Today e-commerce has become a prominent trading approach for organisations and businesses alike and has made a considerable impact on society, and the way in which business is carried out on a global scale. Dinapala Group of company. You are free to use it for research and reference purposes in order to write your own paper; however, you must. Examining the e-commerce important question is what impact ICT and the Internet have had on the productivity growth. Firms have rushed to adopt e-commerce which entails making transaction online with the belief that it will help them gain competitive advantages and increase their market shares as well as revenue. On the other hand, there is need for the business especially if it operates in the United States to carefully evaluate the associated legislations such as the copyright legislation, computer misuse act 1990, trading standards, delta protection act of 1998, freedom of information act of 2002 as well as e-commerce regulation. Lefebvre, L., Pierre-Majorique, L., Cassivi, L., Lapointe, R & Pierre, H. (2001). The method used to arrive at the conclusion in this paper is through an analysis of secondary data from existing books, journals and internet sources. The Legal and E-Commerce Environment Today. E-business benefits little to the consumer in such cases. In E-Commerce, More is More. The strength of this migration cannot be ignored since some of the success stories of organizations as well as retail businesses have been attributed to the digital migration towards e-commerce (Hoover, 2009). As noted previously, there is need to have this information in the public domain so that organizations are not misled that adopting e-commerce is a bed of roses. E-commerce currently affects large sectors such as communications, Electronic commerce (e-commerce) over the Internet is the fastest growing method for consumers to conduct business. On the same note, there are higher chances of improved relationship between the firm adopting e-commerce and its customers. Nissanoff, 2006 believed that E-commerce if introduced in an organization might help a firm to segment its market better by utilizing the demographic characteristics such as age, gender, price, interest, tastes and preferences of its potential customers, information that is usually easily collected online. Be able to plan an e-Commerce strategy This in turn might negative impact the moral of the workers. 1.0: INTRODUCTION This will be attained by novelty to have room for the needs and aspirations of customers from the ground. A physical touch and smell of a product influence a person’s decision to buy it. Definitions of important terms are also presented. It is evident that e-commerce help firm cut the costs of doing business, for instance there will be less paper work which requires human resource, a flexible or telework arrangement can be put in place making working execute their tasks, duties and responsibilities not necessarily in the office among other advantages. The Impact of E-Commerce Strategies on Firm Value: Lessons from Amazon.com. I got a 2:1 grade. Indeed there are numerous advantages associated with this concept such as capturing new markets by allowing firms to go global, 24/7 operation, cutting costs among others. Business called E-Commerce. 1.2 Critically assess the potential impact of common applications on an e-Commerce business……………………………………………………..........…8 Advancement in technology has reshaped and revamped the way business is being done. & Vogel, T. (2004). Generally speaking, e-commerce include; the business will effectively monitor it records, it will be competitive because potential users will be able to place their orders on-line as well as track the progress of the orders they placed, time is saved, it is reliable and convenient, the concept will offer the business an opportunity to reach wider markets, e-commerce will not only be used for transactions but also advertise a firm’s product among others (Karyn & Filson, 2001). This has brought obstacles and resolutions within a business. For this reason, the sensitization process that will be generated by online advertisement will make these customers to buy confidently in transacting with any business. Introduction Today, the technology driving a business to success is the Internet, which can be used to buy and sell goods and services. Additionally the desire for organizational effectiveness as well as using it to attain competitive advantage has made the adoption of these technologies to be deemed paramount in ensuring that organizations do cut themselves an edge in this competitive business world (Sharma & Gupta, 2003). E-commerce is one of the fastest growing industries worldwide and is one of the most rapidly evolving areas of national and international trade. For an e-commerce website, the costs of storing and referencing a product represent a small fraction of the cost as compared to the cost of storing and referencing a product for "physical" stores. Future Shop: How the New Auction Culture Will Revolutionize the Way We Buy, Sell and Get the Things We Really Want. Similarly the paper will give recommendations to businesses that desire to adopt e-commerce. The implications of this is that more revenue will be generated and at the same time widening customer base. Failure to give this concept a serious thought might be a recipe for an organization to fail. E-commerce and its use of the Internet will sell more products, increase revenue, and shape the future of production for businesses. Essay On E-Commerce. After this, the negative effects are succinctly covered. For instance there is concern about increase in crime rates that are not easily detected, the real time production of goods and services have and will continue to create stock crisis, there is potential of loss of resources as well as underutilization of the same (people will lose jobs and rates of disposed equipment will increase), unavailability of power, ICT manpower, telecommunication facilities leaves some communities especially in third world countries at a disadvantage, social division and broken human interaction that creates and nurture trust. Operations managers have had to adjust and retool how business is done since the inception of e-commerce. This is costly and laying them off can imply legal battle on the basis of the contract signed between employees and their employer (Kalakota & Whinston, 1997). The electronic and social impact of e-commerce. After identifying the circumstantial, organization’s core business functions have assesses The focus of e-commerce is on the systems & procedures whereby financial documents and information of all types are exchanged. As the first step of completion, a preliminary investigation has done about the selected Mellahi, K. & Johnson, M. (2000). As a result of trying to meet these demands and needs, there will be room for the firm to develop new products to cope up with ever tightening competition in the business environment. The continuous expansion of electronic commerce can lead to downward pressure on inflation through increased competition. The objective of this task is to critically evaluate the positive and negative impact for a business which adopts e-commerce in doing business. However, one sure way some of the retail shops have been able to break off is through migration to e-commerce and turning their stores into e-business hubs. Among the societal implications of adopting e-commerce in doing business are; it has fostered creation of a flexible working environment. & Colecchia, A. Therefore, the impact to the whole organization, consumers, current market and legal issues can be very dramatic (Kotler, 2009). The impact of e-commerce on business Electronic commerce also known as e-commerce can be defined as the process of conducting business electronically or through the internet, a website, … Wyckoff, A. January 14, 2020. https://ivypanda.com/essays/the-impact-of-e-commerce-on-business/. Management Decisions, 38(7), 445-452. Similarly, issue of confidentiality in using e-commerce will be highly compromised. Using internet to carryout business has been deemed to be the most current innovation in the world of business and offers an opportunity to businesses to carryout business through electronics. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. The influence of e-commerce is undeniable and unreversable especially on retail trade. Laudon, K. & Traver, C. (2010). Since it is everybody’s anticipation that there will be development of further technological innovation, the business might face problems with compatibility of its old and the emerging innovation. However, it is established that there are a host of drawbacks associated with e-commerce such as increase in criminal activities, ethical issues such as firing employees as a result of automating some tasks, technical issues, compatibility problems as well as legal implications. Using internet to carryout business has been deemed to be the most current innovation in the world of business and offers an opportunity to businesses to carryout business through electronics. For the simple reason of adopting the innovation, paper work will be tremendously reduced. Similarly, working from home help reduces traffic congestions as well as cutting down air pollution (Bonnett, 2000). With e-commerce, a business will be able to get various group segments directly especially via internet. E-commerce is the process of managing online financial transactions by individuals and companies. For full functionality of this site it is necessary to enable JavaScript. The work I provide is guaranteed to be plagiarism free, original, and written from scratch. E-commerce technologies have provided opportunities for business growth but have also presented the business world with many challenges (Nissanoff, 2006). for Economic Cooperation & Development. Additionally, information gathered online concerning the desires of customers will aid the firm to be in contact with demand and supply curve hence always striving to stay competitive. Harvard Business Review 86, 20–21. The is a higher chance again of the business to utilize information technology to closely monitor all activities of its customers as well as workers which amount to invasion of human privacy. Impact Of E Commerce On Business Essay The Impact And Future Of E-Commerce And Its Impact On Business. (2003). Consequently, people are interconnected which makes sharing of information to be very easy and quick thus making the entire society to make informed choices before engaging in business transactions. 14 January. E-Commerce is the paperless exchange of business information and refers to Internet shopping, online stock and bond transactions, the downloading and selling of “soft merchandise” and business-to-business transactions. Airlines are turning to e-commerce to keep business flying, and the reason they are focusing on selling tickets through their Web sites is that it is the cheapest distribution channel. The quality of my essay was worth the money I had paid. Impact of E-Commerce on Business Process Redesign and Integration. E-Commerce Essay. What’s your deadline? This will help even small firms to gain competitive advantage and increase their market shares. It is worth noting that what this brings in elimination of the poor timing in production and possibly cutting down on wasting of resources and time. However, when a firm adopts e-commerce, this gives it a perfect opportunity to compete globally since there are no geographic boundaries. Due to this, groceries and confectionery product e-business makes small profits. Executive summary (2020, January 14). E-commerce is a boom in the modern business. At that time, they specialized in loose frozen foods and made huge profits making it thus opening several stores across England. E-commerce offers a different mode of performing trade throughout the world without the need for tangible contact between the buyer and seller. And Impacts of E-Commerce E-COMMERCE BUSINESS:- E-Commerce refers to a wide range of online business activities for products and services. The last section of the paper is the conclusion which entails a brief summary of the work done. The problem statement is also clearly written down together with the objectives of the entire work. professional specifically for you? Small and medium-sized enterprises, Electronic commerce (e-commerce) over the Internet is the fastest growing method for consumers to conduct business. E-commerce is considered to be one of the ways of increasing profits in firms. Group Assignment It is worth noting from the onset that just like any other business and for that matter a normal concept, there are both benefits and draw backs associated with introduction of e-commerce to any business organization. Institution It can also be traced at the macroeconomy level. International Journal of Electronic Business, 4(5), 380-400. E-commerce technologies have helped nations to accelerate their economic growth and to provide more opportunities for the businesses to grow. 1.1 Critically discuss the expectations of internet customers……………….………4 E-commerce is one of the fastest growing industries worldwide and is one of the most rapidly evolving areas of national and international trade. Excerpt from Essay : E-Commerce on Retail Trade 20/09/2015 E-commerce has gone on to alter the way retail was done for centuries. E-commerce is a term describing a new and innovative more efficient way of doing business completely by use of the internet, to conduct trade dealings both on a national and global scale. The key to the success of e-commerce is the fact that it … In this chapter, I am going to review 3 organizations that have been successful in e-commerce no matter their areas of specialization:- The E-commerce was introduced on 1970s as a transfer of funds. discuss the impact of e-commerce and digital technology for small business. Transformation in the Marketplace: ii. The Impact Of E-Business On Organization Essay Impact of E-Business on Organization Electronic business is utilization of information and communication technologies so as to support the business activities. An IBM Guide to Doing Business on the Internet. Need a custom Research Paper sample written from scratch by From the customer satisfaction and availability of services, online shopping is creating a major impact upon the retail stores. IvyPanda, 14 Jan. 2020, ivypanda.com/essays/the-impact-of-e-commerce-on-business/. The next section is the main body tackling the impact of e-commerce to businesses. In the UK, the retail industry is very competitive and every company is looking for a competitive edge over the other. This does not mean that other businesses in other geographic locations are exempted. E-commerce will serve as a catalyst and diffuse more widely changes that are already under... iii. On the same note, e-commerce has facilitated quick delivery of public services for instance plumbing services, banking services and more importantly health care services. E-Commerce – History of E-Commerce Early Development: The history of E-commerce begins with the invention of the telephone at the end of last century. Lacks physical proximity. They use techniques such as better services, lower prices, and customer feedback to lure more customers into their businesses. IvyPanda. Convenient services appeared, IMPACT OF E-COMMERCE ON BUSINESS E-commerce has been developed by the high Additionally, according to Kotler, 2009 e-commerce will cut down the cost of doing market survey. New York: The Penguin Press. Throughout the decades ever since, technology was then on the road to sudden rapid expansion, with a big boom in new hardware, software and internet capabilities such as faster computer speeds, faster internet connections and efficient software. Introduction (1997). It is however important to note that the full impact of e-commerce on an economy depends on several factors such as the rate at which the economy adopts e-commerce. Development of computer technologies and Informational Age have established a strong scientific field called e-commerce.According to the scientific definition, it is a branch of economics which comprises all financial and trade transactions that are executed by networks and all related business processes. Task 1: 1.1.1 E-Business and E-Commerce Infrastructure. The advantages of this working scenario not only include convenience but also offer a conducive environment to take part in activities that aid in generating revenue. There are nearly 200 million Internet users worldwide currently. Impact of Technology in Business – E-Commerce Since the introduction of the Internet in the 1950’s, development of technology began for use by the military until it was soon introduced to the public for commercial and private use. How can the latest technologies be integrated into small business? It is worth noting that doing business around the clock will attract more potential customers especially those who do not have time to physically come to the offices to place an order. It refers to the buying and selling of goods and services without using any paper documents to the customers through electronic medium (investorwords.com, 2016). E-commerce means electronic commerce. We use cookies to give you the best experience possible. Be able to manage an e-Commerce strategy The paper begins with the positive contribution of the technology. & Jean-Pierre, K. (2002). Accounting Education, 2(1), 567-582. E-commerce`s prime driver is Internet which presents an hierarchical framework. Nissanoff, D. (2006). Meanwhile, it has also created many challenges and adverse effects, such as concerns over privacy, consumer protection, and security of credit card purchases, displacement of workers (especially low-status ones), and is charged with having a negative impact on quality of work life.] It is also thanks to e-commerce that it has been possible to fill tax return forms on line and submit them on time (Seethamraju, 2006). However, there is little knowledge these firms have with regards to both advantages and disadvantages of adopting e-commerce. Cons of adopting e-commerce had to adjust and retool how business is done since the inception of and! Since the inception of computers and internet, consumers have access to virtually information! Laws and regulations concerning usage of e-commerce to businesses that desire to adopt.. Rich interaction, the negative effects are succinctly covered online is referred to as e-commerce retool business. 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