Benefits of e-commerce for online working
Over the course of the next ten years, electronic technologies will be gradually and continually implemented throughout the whole supply chain of all industries. It is anticipated that e-business will become so ubiquitous that the "e" will no longer be necessary and that "business as usual" will be carried out via a whole new medium. Too many small and medium-sized enterprises do not fully recognize the significance of the electronic business model and do not put in the necessary effort to comprehend or implement it. In fact, a lot of companies continue to mistake e-business for e-commerce, which is e-business's transactional component.
Business process optimization
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Full integration of electronic technologies throughout front and back end business processes will provide significant benefits.
More fruitful customer/supplier relationships
In addition to saving money and improving response, using email and other audio, image, and word communication tools can improve connections with suppliers, customers, and employees since they are more widely available, can be used more frequently, and offer a greater amount of information for free. When handled properly, tailored and targeted direct mail can improve client connections and boost sales using interactive databases and electronic loyalty programs. Customers can use e-business tools to verify account details, track order status, and find many answers on their own.
Faster provision of products and services to the marketplace
A robust marketing website that is integrated with business processes enables customers to place orders online. These orders are then electronically routed through accounting, production, warehousing, and distribution, and the customer receives a product that meets their specifications and is delivered on time.
Benefits of E-commerce
To Organizations
opens up national and worldwide marketplaces for a business. A business can swiftly find new clients, the greatest suppliers, and the most qualified business partners worldwide with little financial investment.
allows businesses to quickly and affordably acquire goods and services from other businesses.
reduces or even does away with marketing distribution channels, lowering product costs and increasing vendor revenues.
Through digitization, the cost of producing, processing, disseminating, storing, and retrieving information can be reduced by up to 90%.
allows for pull-type supply chain management, which lowers inventory. This lowers inventory costs and enables product customisation.
reduces telecommunications expenses since value-added networks (VANs) are far more expensive than the Internet.
makes it easier for small firms to compete with big businesses.
makes a highly specialized niche market possible.
To Customers
frequently offers less costly goods and services by enabling customers to quickly compare prices online.
gives them more options than they could find on their own.
allows clients to shop or conduct other business from nearly anywhere, around the clock.
provides thorough and pertinent information in a matter of seconds.
allows customers to purchase personalized goods at affordable costs, such as vehicles and PCs.
enables individuals to work and learn from home.
makes online auctions possible.
enables users to communicate in online communities, share ideas, and contrast experiences.
To Society
allows people to reduce their travel and work from home, which reduces air pollution and traffic.
raises people's standard of living by enabling the sale of some goods at reduced costs.
gives individuals in rural and underdeveloped nations access to goods and services that they would not otherwise have. This covers chances to learn a career, obtain a college degree, or get better healthcare.
facilitates the provision of public services, including government benefits, lowers distribution costs and fraud risks, and improves the standard of social services, law enforcement, healthcare, and education.
Limitations of E-commerce
Technical Limitations
absence of generally recognized requirements for dependability, security, and quality.
inadequate bandwidth for telecommunications.
Tools for software development are always changing.
Internet and EC software integration issues with some current (particularly outdated) databases and applications.
In addition to network servers, dedicated Web servers are required.
Many potential consumers find Internet connection to be costly and/or cumbersome.
Non- Technical Limitations
absence of industry standards and national and international government laws.
absence of established techniques for calculating and defending EC's benefits.
Many buyers and dealers are holding off on participating until the EC stabilizes.
Opposition from customers to switching from a physical business to a virtual one. People still don't trust faceless, paperless transactions enough.
belief that EC is costly and unreliable.
Short Terms
Examples of physical businesses that might have electronic shops as an extension are Wal-Mart, The Sharper Image, and Home Depot. Others are new businesses started by entrepreneurs who saw an internet market need.
Electronic mails
An electronic mail, also known as a cybermall or e-mall, is a collection of distinct stores under a common Internet address. Offering a one-stop shop with a variety of goods and services is the basic idea behind both traditional and electronic mail. Downtown Anywhere is an illustration of a cybermall.
Electronic banking
Cyber banking, virtual banking, home banking, and internet banking are terms used to describe a variety of financial activities conducted from a home, place of business, or while traveling as opposed to at a physical bank office. Bill payment and loan applications are only two of the many uses for electronic banking. Consumers find it convenient and time-efficient.
