09 Apr 2018
Md Imtiaz Ahmed
E-Commerce, formerly referred to as Electronic Commerce, is the trading of several of goods & services over a wide area of electronic means; such as the Internet or any other Computer Networks. The various sources where the e-commerce is successfully being running and the uses of e-Commerce are mobile commerce, electronic funds transfer, supply chain management, internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems. E-Commerce allows the exchange of data over electronic means in order to facilitate the financing & payment aspects of business transaction. Within the help of e-Commerce, an organization is benefitted through effective communications & better business conducts.
In order to build up a proper e-commerce website for a business, there must have to be some implementations of these analyses as follows:-
PEST (Political, Economic, Socio-cultural, Technological) Analysis
In modern days, we have an extension in the PEST analysis which has added two more factors to take effect in the business. These are Legal(L) factors and the Environmental(E) factors, which for instance, stands to be the PESTLE Analysis.
This analysis is only focused on the strengths, weaknesses, opportunities & threats that are significant to an organization for a brand new scheme.
Onto a business organization, the SWOT Analysis has been divided into two categories, Internal Analysis which is Strengths & Weaknesses, and External Analysis which is Opportunities & Threats.
The Strengths are valued by measuring the ability of an organization to compete with other companies globally or locally. The start-up cost overhead cost is low to introduce e-Commerce system in the business, which is a plus point. Direct consumer communication too takes place while this e-Commerce system is implemented by means of when an order is made; the goods are directly delivered where a personal meet up takes place. So it generally creates a good customer relationship.
Weakness could be the higher prices of their products which will result in less consumer attentions and hence less profit. Another point to take into account as the weakness of an e-Business could be the online page loading time. If the page takes much time to load, the visitors of the site will eventually tend to turn their search off and leave. Hence no profit would be earned by the business.
Opportunities are measured by their 24/7 availability online to serve their consumers. Growth is estimated to continue at high rates and launching an online business allows the merchant to be in a position to benefit from this growth.
Threats are measured by the business’ ability to survive in the field by competing with other organizations. Another point to take into consideration is fraud. Some consumers find it risky to deliver their financial data and such kinds of feeling among the population can be a great threat for any online business stores. Privacy concerns too are a factor to be thought of.
CORE BUSINESS FUNCTIONS OF E-COMMERCE
I am Md. Imtiaz Ahmed, and, Mr. Bashar has appointed me as an e-Commerce Developer in his e-commerce business. He is planning to open an e-Commerce online book store.
Nowadays we see a rapid rise in such businesses that runs online. There are various sectors such as the one Mr. Bashar is planning to open, apart from that there are jewelries, fashion items, perfumes, groceries, electronic appliances, household items and much more. Mr. Bashar wants to organize such an online book store where people from all around the world can get access to and order for their desired books of their own choices & favorite authors.
E-commerce is basically functionalized as to deliver the customers with the desired service in an online basis. For instance, the customers will stay at their favored place from where they can easily place an order for the product they want. They will either make the payment online using debit/credit cards or, they can also make the payment on cash while the product is finally delivered at the right place. That’s one of the most efficient and generally important function though which the system runs.
Named Boibazaar.com, Mr. Bashar has set his online storefront targeted to basically the people of any ages since there are absolutely no limitations to read books. Starting from the youngest to the oldest, anyone can order for books as they want or would like to. Mr. Bashar targets to deliver his potential customers by serving them the right output as required.
There are various functional areas partly divided in a sense to run the e-Commerce business on a smooth flow. Among them, follows are the most important ones that Mr. Bashar’s online storefront must implement:-
Since Boibazaar.com is an online book store, the Production Department is not much necessary since Mr. Bashar’s business does not produce books but deliver what are available on the market, just by means of selling on the online method. The ICT Department is the most important one since the business is online basis and thus the whole thing is maintained according to its own ways as supposed.
Boibaazar.com has categorized their selling items according to the genres so that the visitors of the site find it handy & easy enough to find out what they are looking for. The prices too are mentioned so that they don’t really need to navigate to any more pages to go for inner details. Seller contacts too are added so that if customer decides to purchase can make direct deals with the seller easily.
Boibazaar.com agrees accepting the method of payments on Cash on Delivery basis for local consumers. Soon they will be accepting Card Payment method using VISA, debit/credit cards and online payments. For local consumers, the shop is also accepting the online payment procedure of Bkash. Regarding International consumers’ payments, the store is working on to accept methods followed by banks and also The Western Union process. But customers must be sure that there are different methods to follow for payments for different orders. Cash on delivery basis is highly being appreciated by the customers who prefer dealing online for their desired products. It’s less hassle and over all the difficulties that might appear compared to physical trading.
AIMS & OBJECTIVES OF E-COMMERCE
Profit maximization is the core aim of any organization whether it is a physical business place or the one that runs online. Some organizations even aim to survive with just less or no profit at all. Breakeven, one method of surviving is to focus on breaking even over a certain period. This means making enough money to cover the total costs involved in producing and selling the goods or services, and running the business, although there is no profit, no money is lost. Also there are some businesses that only tend to focus on selling (sales maximization) as more products as possible in order to expansion in their business.
BUSINESS STAKEHOLDERS AND THEIR RELATIONSHIP IN THE BUSINESS
Below is a table that shows the aims of the business following the relationship of their stakeholders into the business. Stakeholders are those people who are both directly and indirectly related to the business in general means. The table below will help make a clear view:-
| || || |
| || || |
| || || |
| || || |
| || || |
| || || |
If you are the real writer of this essay and no longer want to have the essay published on the our website then please click on the link below to send us request removal:Request the removal of this essay
Get in touch with our dedicated team to discuss about your requirements in detail. We are here to help you our best in any way. If you are unsure about what you exactly need, please complete the short enquiry form below and we will get back to you with quote as soon as possible.