Developing Electronic Commerce: Electronic Commerce or e-commerce is defined bro
ID: 358519 • Letter: D
Question
Developing Electronic Commerce:
Electronic Commerce or e-commerce is defined broadly as an industry that buys and sells products, goods, or services over electronic widespread systems that include networks and the Internet. You are to write a 4-6 page APA formatted paper that describes the development process of creating an Electronic Commerce type of business entity. Your paper must incorporate the following concepts and demonstrate critical thinking:
Revenue models or streams
Market and SWOT analysis
The Global Economy
The Internet
Web Server and Email Technologies
E-commerce models
Selling Online
Virtual Communities
Explanation / Answer
E-COMMERCE
there is a rapid growth in the electronics sector in the world, people getting more smarter day by day which makes them invent new things daily. e-commerce is the most trending and influencer in todays world .in every minute one person get to introduce to this e-commerce world daily throughout the globe. As everyone is trying to understand the working process of it, before going into the real market of e-commerce. there is a long development process behind this business domain. firstly we need to understand what is e-commerce: it is a medium which helps us to buy or sell our goods on the digital platform and the common provider provide this service and generate revenue from it. B2C, B2B are two main modes of business which used here. so there are several concepts while forming an e-commerce business in the real world, which we need to understand thoroughly.
revenue model:
basically its a source of revenue to the organization. there are the different type of subdivision in it like, recurring revenue, transaction revenue, project revenue, service revenue etc. so before developing the website we need to make a blueprint of the overall cost requirement and how can we generate the revenue. the budget formation is the important process which they need to consider before starting anything. e-commerce business is not done on small scale because of the competition we need to provide some different services too and for that, we need funding and investment. all these things need to mention clearly in the revenue model. for funding, asset sale is needed and equity can be released publicly if we start a business but again we need some initial capital for to start it.
market and SWOT analysis:
SWOT analysis is the essential part of any new business. it helps them to find the basic steps which they need to consider while forming the business in the real market. as e-commerce is on boom then we have a well-established market which accepts us and provides us the basic requirements which we need while doing business this is our opportunity, but as it already booming then we have lots of competition which turn into our threat. while our strength is our uniqueness which makes us different from others we can provide lots of new offers along with our services which attract the customers. free membership for the longer period, less delivery charge. when it comes to weakness then we too have it, while doing a business in more turbulence market we have less experience which turns out to be our major game changer as we don't have any prior knowledge of the problems we gonna face.
the global economy:
before going to the real market we need to see which business cycle are we in as a country and as a world too. because it plays a major role while doing a business. if it's in expending phase then we can have skill labor, materials can be easily available more employment can be generated and government policies are in our favors. as I said earlier we are in a turbulent market which makes us be careful of the world economy because that impact us most as globalization is the basic root of today's global economic growth.
the internet and web server, email technologies:
the fast internet and clouding computing is the major game changer in the world as they make most of the work easier and fast then the new form of business get developed due to that. e-commerce is one of them, as it totally dependent on the internet factor.e-commerce business is 70% dependent on the web server and other 30% depends on the logistics part. e-commerce is done when our customer is well aware of the fact of the internet and know how to use it. for example, we establish in the remote area where the internet connection is not strong then our business cant generates revenue from there. so we need to establish a protocol in such a way that it can be accessed on weak connection too, the best example is Amazon they can be access from the remote area too.
E-commerce model:
now as I said earlier that B2C is the major model which we need to see but B2B is also as important because we need buyers and seller both to run an e-commerce business. inventory management is needed. firstly we provide a platform which help the seller vendors to sell their products and for that sometimes we need inventory. as we provide them both then B2B happen because two whole entity act as an individual while doing a business. whereas we as a business or platform sell their product to customers then B2C happened.
selling online and virtual communities:
70% of this business work is done in the virtual platform which needs internet. selling online is the major function id this business because as we provide a certain platform for many vendors and also it gives a sense of freedom to the people to choose a product from many options by just one click. nowadays people don't do much hard work and they want everything to be available to them easily. so selling online give them that power by just one click, several virtual companies are also booming as we need data storage and cloud computing is useful then.
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