Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Cultural challenges of doing business overseas
The impact of globalization on international business
The impact of globalization on international business
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Cultural challenges of doing business overseas
Electronic Commerce
Sadly, in today’s diverse society various wants and needs must be met. Not to mention today’s economic struggles. All these changes have forced society to evolve. Upon such diversification and economic status, businesses have to re-develop themselves to appeal to today’s consumers, meeting their goals, and remaining cost effective, while complying with mandated laws and regulations. That said, today’s 21st century, also known as the Information age, has evolved into an era marked with new technologies and electronic commerce. All which, conveniently facilitate the business to business or business to consumer process. Therefore, in this paper, one will further elaborate on electronic commerce and its significance to the business
…show more content…
In other words, electronic commerce has provided an assistive tool that aids individuals and businesses in supporting their quality of life. Generally speaking, electronic commerce has become extremely significant for today’s economic society, not to mention foster innovation, which can, without a doubt, lead to stability and new revenue opportunities. Nonetheless, entrepreneurs and consumers must ensure to conduct the proper research and examinations prior to engaging into a deal or purchase (Fernandez-Portillo, Cruz Sanchez-Escovedo, Jimenez-Naranjo, Hernandez-Mogollon, …show more content…
For instance, a large business might face more challenges than a small business. Why? A larger corporation operates at a larger scale, thus conducting business with multiple consumers and businesses, which tends to increase the changes of error. Another factor, that businesses and consumers alike should take into consideration is whether a business is global or not. As that only increases the risk factors, challenges, and barriers, like cultural and language barriers (Fernandez-Portillo, Cruz Sanchez-Escovedo, Jimenez-Naranjo, Hernandez-Mogollon, 2015). Although the risk factors are higher with larger businesses, the chance of risk and challenges exists regardless of the size of the business, for the simple fact that social networks, programs, and websites are utilized to process and make business transactions. For this reason, a thorough analysis must be
Along with the incredible opportunities the Internet has created, this global connectivity also has exposed businesses to an excess of regional issues that can dramatically alter a business' potential for profit or loss and also change the risks and threats to the business.
Amazon.com operates in the Online Retail Industry. The sector is one of the fastest growing globally and is outperforming the ordinary retail marketplace. It was created after 1995 and it was only the Internet that made it possible for such an industry not only to be established but to become one of the most flourishing sectors in the business environment. What is interesting is that Amazon.com, together with eBay is the pioneer in the field. Both companies were launched in 1995 and are still extremely successful. The creation of e-mail in 1996 had a huge impact on the development of online retail by introducing a fast and easy way to communicate with customers. For this two-year period Internet usage doubled annually, thus, allowing for the expansion of the industry. Google is launched a year later, in 1998, only to become the most used search engine in the world and an essential partner for the online retailers by helping them tailor their websites to customer’s personal preferences and by advertising. After that, more and more people see the opportunity in the growing industry and enter it. By 2001 there are more than 513 million Internet users globally, which calls for action in terms of creating regulations and laws to protect the users and personal property. In 2003, Apple launches iTunes, and provides a platform for low-cost digital downloads. Another major change is the appearance of social media from 2004, which is one of the biggest influencer on the state of the industry. With the launch of iPhone in 2007, this trend strengthens as people get to enjoy the Internet anywhere they want to. From then on, technological advancements have made it extremely easy and fun to shop online, making it ...
Laudon, Kenneth C. Traver, Carol. E-commerce: Business. Technology. Society 3th ed. Pearson Prentice Hall. Upper Saddle NJ, 2007.
“Overall economic conditions within the country or abroad also pose a major threat to business operations. 33% of service providers considered potential risk to their operating practices and something which impact on their business in comerpasion to last year and around 30% of the companies faced this risk factor.”( Ahemed, Capretez, Sandhu & Raza, 2014 p
Senn, J. A. (2000). Electronic commerce: Beyond the “dot com” boom. National Tax Journal, 53(3), 373-383.
Today’s information systems are both technical and social in nature. Management must understand the importance of information within the organization. It is management’s job to understand how information is collected, processed, and distributed. We are all extremely affected by information systems and must be willing to understand and work with them. Our global economy does not allow us to depend on face to face transactions like in the 1980’s. Today, few managers can ignore the importance and impact of how information is handled by their organization. Information systems play a critical role in today’s business organization and society (Laudon 5).
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
The advancements in the technological world have allowed supermarket chains and other national stores to quickly dominate the market and are driving out the concept of the ‘local stores’. This surge in the market has seen shares rise and profits bulge with the three main contenders in mind being Sainsburys, Safeways and Tescos who now serve the whole of the UK between them and are the household names of the shopping world. The ICT input to these businesses is vital in that it provides speedy service; controls stock levels and will even allow bank balance transfers to be carried out with minimal difficulty or technical experience.
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
E-commerce is about two decades old, yet due to its fascinating dimensions, it remains a challenging area for researchers and professionals.
E-business and e-commerce are terms that are sometimes used interchangeably, and sometimes they are used to differentiate one vendor’s product from another. In both cases, the e stands for "electronic networks" and describes the application of electronic network technology - including Internet and electronic data interchange (EDI) - to improve and change business processes (Bartels, 2000)
E-commerce means that the company runs their business online, not like the traditional business way. We have to go the shopping mall or store to get goods that we need, E-Business is the enabling of electronic communication between any two or more participants in a business relationship. It helps companies capture abroad business field, cost saving, and market opportunity. E-commerce is an important factor that is making people’s lives more efficient.
The late 20th century has successfully witnessed the boom of sophisticated technology, which gave birth to a wide range of technological outcomes, including computer technology. Computer technology, that is a skill to manage information, communicate and a kind of entertainment media, has become an important part in modern life at work, in recreation and social networking. Whether computer technology is better or not is a complicated issue. There are different arguments that need to be examined. Most people support that computer technology is better for individual lifestyles. It improves quality of working and study, provides a wide range of entertainment and is a wonderful tool of communication. On the other hand, others believe that computer
The high take-up of the Internet leads to variety of opportunities in front of companies. People are more online than ever. They spend many hours each day on Social Networks such as Facebook and Google+. It is no wonder that buying and selling can now be done in a more convenient way. Although traditional shopping is still thriving, online shopping can be an alternative for people wanting to save time and money. If a certain customer plan to go shopping, it could be stressful and also be time consuming. E-business has made shopping or any kind of transactions online much easier and convenient. It introduces new facilities, opportunities and way of shopping for both vendors and customers.