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. The problem statement is also clearly written down together with the objectives of the entire work. Although the current generation is capable of living up to this kind of idea, the older population is yet to embrace this kind of technology and they still prefer the human contact (Wyckoff & Colecchia, 2000). In a well thought out PowerPoint presentation, discuss the impact of e-commerce and digital technology for small business. This paper has identified the pros and cons of adopting e-commerce. & Vogel, T. (2004). Providing great reach and the potential for rich interaction, the internet is a natural medium for travel transactions. January 14, 2020. https://ivypanda.com/essays/the-impact-of-e-commerce-on-business/. 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). Among the societal implications of adopting e-commerce in doing business are; it has fostered creation of a flexible working environment. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Understand the impact of e-Commerce on business Due to this, groceries and confectionery product e-business makes small profits. However, there is need for each and every organization to deeply and extensively consult before embarking in rolling the entire project, this is important as it will dictate the success and sustainability of the project. Copyright © 2020 - IvyPanda is a trading name of Edustream Technologies LLC, a company registered in Wyoming, USA. P2.1- Analyse the impact, including the risks, of introducing an e-Commerce system to an organisation ANS E-COMMERCE : e-commerce is a way for any size of organisation to do business over internet, selling products or services , taking payment and providing customer support which have positive impacts on organisation and as well as have some risk to organisation and customer of organisation … Adverse effects of e-commerce. & Jean-Pierre, K. (2002). Executive summary Role of eCommerce in Business. E-commerce has the potential of making a firm cut itself an edge and stay competitive even during economic hard times, as it can learn and promote its image to different market segment depending with their needs, thus promoting market expansion and consequently, high sales volume. What’s your deadline? 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. 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. Of these 200 million users, roughly 40 percent reside in the United States (Styliano, A., Robbins, S. & Jackson, P., 2003). Similarly the paper will give recommendations to businesses that desire to adopt e-commerce. Advancement in technology has reshaped and revamped the way business is being done. Additionally this helps the firm cut down on operation costs in terms of space, power, and food to employees among others. Web. The electronic and social impact of e-commerce. 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. 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. It is also a fact that surfing the internet is an interesting as well as time consuming, there is a possibility of an employee to surf during work time which can jeopardize the efforts of adopting the innovation (Mellahi & Johnson, 2000). At the time, they were employees of Woolworths and fired after the employer discovered their side business. New York: McGraw-Hill. We will write a custom Research Paper on The Impact of E-Commerce on Business specifically for you for only $16.05 $11/page. The later has no doubt been cumbersome, consuming a lot of time that can be utilized by the firm to doing other things that will upgrade their operation. It is also a fact that most customers’ critic some business concerning the products and services it offers. Iceland Food Ltd was founded in 1969, when Malcolm Walker and Peter Hinchcliffe established the first store in Leg Street, Oswestry, in England. Introduction The role of E-commerce in business is that it helps in the exchange of goods and services through electronic support. 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. The next section is the main body tackling the impact of e-commerce to businesses. As commerce is one of the essential activities for practically any business, the concept of e-commerce is topical in today’s world. For the simple reason of adopting the innovation, paper work will be tremendously reduced. The whole idea centers on buying or transaction via the internet. In most cases the products are delivered in at the customers’ door steps. 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. 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 … 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. Failure to give this concept a serious thought might be a recipe for an organization to fail. Task 1: 1.1.1 After this, the negative effects are succinctly covered. E-commerce technologies have helped nations to accelerate their economic growth and to provide more opportunities for the businesses to grow. It also pertains to any form of business transaction in which the parties interact electronically rather than by physical exchanges or directs physical contact. An e-business … 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. Additionally, another issue linked to this is addressing the issue of resistance as well as employees who are difficult to be retrained so that they fit into the system. This will be very important since it will help them make informed decision as well as prepare them in developing better strategies that can help them overcome the negative impacts of such technology. 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. It is apparent that since the inception of computers and internet, everything particularly on how business is carried out has tremendously changed. The key to the success of e-commerce is the fact that it … 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. 2. 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, … 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. One notable issue is what a firm will do with those employees for instance who work on business paperwork’s now that most of the things have been automated. E-commerce is a boom in the modern business. Here we discuss the social and economic impact of e-Commerce on society, and the main advantages and disadvantages. Mellahi, K. & Johnson, M. (2000). Iceland Food Ltd The association will be effective if there is a clear supply chain management which will in the end boost sales. 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. RE: Impact of e commerce in Business Strategy : At LindasHelp I can do all your assignments, labs, and final exams too. 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. Similarly, with advancement in technology, there are those who after acquiring the full details of customers, hack their bank accounts and transfer money to unknown accounts (Eisingerich & Kretschmer, 2008). To control this, there will be need to limit the kind of information accessible through the internet. IvyPanda. They use techniques such as better services, lower prices, and customer feedback to lure more customers into their businesses. The work I provide is guaranteed to be plagiarism free, original, and written from scratch. Pets.com, Inc.: Assessing financial performance and risks in the e-commerce industry. Since the advent of computers, mankind has experienced an unmatched surge in development of new and cutting edge technologies. Malcolm would later join the company in, The Importance Of A Independent Audit Is Stronger Than It Ever Has Been Essay, Results And Selection Of Study Selection Process Essay, Indian Investment And Trade : India Essay, Estimating Exchange Rate Volatility With Garch Models Essay, The And Finance Executives When It Is A Financing Option Of Last Resort Essay. The last section of the paper is the conclusion which entails a brief summary of the work done. On the other hand, there are drawbacks that the society has experience as a result of adopting e-commerce. According to Kalakota & Whinston, 1997 these include increase 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. 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. This in itself is a competitive advantage. Information exchange was constraint in transnational business but e-commerce provides... iv. Operations managers have had to adjust and retool how business is done since the inception of e-commerce. This will help the firm to keep track of the required goods and the services, quantity, quality and the time of delivery. Miller, R. (2002). Although adopting e-commerce sounds heavenly send solution to doing business in the 21st century, Lefebvre et al 2001 note that there are very serious issue regarding customer trust and lack of human contact while carrying out transaction might be a blow to the desires of any firm which seek to have a direct contact with its customers. Cookies Policy, This research paper on The Impact of E-Commerce on Business was written and submitted by your fellow student. E-commerce has also, Business Skills for E-Commerce 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). I got a 2:1 grade. The last section of the paper is the conclusion which entails a … Through this gadget most of people make this medium as a platform to do e-commerce business. Examining the e-commerce important question is what impact ICT and the Internet have had on the productivity growth. Impact of E-Commerce on Business Process Redesign and Integration. Kalakota, R. & Whinston, A. (2020, January 14). E-business also can be linked to the evolution of supply chain management that at around the same time IBM was incorporating e-business through the initial use of e-commerce, supply chain management was also developing and becoming a manner in which to manage supply chains effectively. Bases on these pros and cons of adopting e-commerce, it would be rational for businesses to critically examine them and develop better strategies to curb some of these drawbacks. (Sharma & Gupta, 2003, p. 655). Chaudhury, A. Lacks physical proximity. This does not mean that other businesses in other geographic locations are exempted. Another positive force brought forth by introduction of e-commerce may be the link it creates among customers, employees of the business, competitors, suppliers and distributors. Convenient services appeared, IMPACT OF E-COMMERCE ON BUSINESS The impact that e-commerce has had on how an operations manager address a situation can vary from extreme to barely noticeable. Therefore, the impact to the whole organization, consumers, current market and legal issues can be very dramatic (Kotler, 2009). E-commerce is the process of managing online financial transactions by individuals and companies. Mass customization and network production can be made possible by adopting e-commerce. When the later happen, it is risky for the business since it can loss all its viable data in case it has not backed it up. There are nearly 200 million Internet users worldwide currently. As the company grew, it peaked in 2001 and was hit by controversies including Malcolm Walker being accused of selling the company’s shares and later resigning. E-Business and E-Commerce Infrastructure. Name The impact of e-commerce can be traced at the industry and consumer levels. It is also changing how the government regulates online commerce. ⏰ Let's see if we can help you! Introduction The main way in which e commerce will affect the economy, in general, is its impact on productivity and inflation. (2003). Laudon, K. & Traver, C. (2010). Transformation in the Marketplace: ii. This will be brought about due to the multiple roles played by e-commerce (advertising and publicizing) (Bonnett, 2000). The post Impact of e commerce in Business Strategy appeared first on Ink Essays. IvyPanda. Impact of e commerce in Business Strategy. 3.1 Critically assess the risks of linking business systems to the, and business. 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. 3. E-Commerce Essay. The objective of this task is to critically evaluate the positive and negative impact for a business which adopts e-commerce in doing business. Need a custom Research Paper sample written from scratch by Additionally, the business can benefit by using the whole idea as an alternative source of income. It is worth noting that failure to follow a number of government provisions might land businesses which have adopted e-commerce into serious legal battles (Chaudhury & Jean-Pierre, 2002). Does it pay to be a first mover in e-commerce: The case of Amazon.com. 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. If you continue, we will assume that you agree to our New York: The Penguin Press. E-commerce and its use of the Internet will sell more products, increase revenue, and shape the future of production for businesses. As a result, this will call for the firm adopting this kind of technology to set aside funds that will be used to educate potential and willing consumers so that they become confident in using e-commerce. This in turn will shape how the business strategizes on production. E-commerce has been developed by the high 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. Over the years, E-commerce (Electronic Commerce) has brought lot of changes in the business world. 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. The problem with this is that the firm might incur extra cost and still the group refuses to change. Many people nowadays are excited to explore the application was provided into gadget such as mobile smartphone, tablet, Ipad, etc. Thus it has a large economic impact. E-Commerce facilitates fundamentally the movement of goods from suppliers to customers. Retrieved from https://ivypanda.com/essays/the-impact-of-e-commerce-on-business/. The E-commerce was introduced on 1970s as a transfer of funds. Less than ten years old and it already has radically altered the potential to economic activities and the social environment. Pearson: Prentice-Hall. Business called E-Commerce. It has been argued that online communication can never be a substitute to face-face interaction. The Impact of E-Commerce Strategies on Firm Value: Lessons from Amazon.com. They later use these details to steal money from unsuspecting customers. The documentation is about the process of implementing an e-commerce solution for the 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). & Kretschmer, T. (2008). The implications of this is that more revenue will be generated and at the same time widening customer base. E-commerce business models are different from traditional business models because e-commerce offers firms different market opportunities and changes organisations’ revenue models, competitive environments and advantages, which are core elements of a business model. The next section is the main body tackling the impact of e-commerce to businesses. There are nearly 200 million Internet users worldwide currently. 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. Eisingerich, A. 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