E-Commerce

E-Commerce

Introduction
I am glad that Steemit provide an amazing platform where I can share my different and informative articles with the world E-commerce is widely known as e-commerce. It is the way in which the purchase and sale of products or services through technological processes takes place such as the Internet and other computer networks.
Electronic transfers, asset management, online marketing, online transaction processing, Electronic Data Interchange (EDI), asset management systems, and automated data collection systems for this E-Commerce information
E-commerce uses the Wide Web at least once during the transactional life cycle, or will incorporate a variety of technologies such as email, mobile devices, and phones.
Electronic transactions are often viewed as an e-commerce feature. It also holds the exchange of information to facilitate financing and payment of business transactions.
E-commerce remains a new, growing and evolving area for business management and information technology.
There has been and continues to be a lot of detail and discussion in e-commerce. The library and library catalog is full of books and articles in this article.
However, there is still a pattern of global confusion, suspicion, and misunderstanding, which has been exacerbated by various employment conditions, including multiple questionnaires and acronyms.
In the emerging world economy, e-commerce and e-commerce have become increasingly necessary with increasing business strategy and strong incentives for economic development. The integration of data and technology (ICT) into a business has changed the relationships in organizations and individuals within and between individuals and organizations.

Scope of E-Commerce:
Pre-sales, subcontracts, supply.
Financing and insurance.
Commercial transactions – ordering, delivery, payment.
Co-operative product development..
Business-to-administrations
Marketing, sales and sales promotion.
Automatic trading of digital goods
Product service and maintenance.
Transport and logistics
Accounting and financial management.
Why E-Commerce in Needed?
It is a new business idea that combines all previous business
management and economic concepts.
E-commerce influence on many zones of business and
disciplines of business management studies:

1. Marketing
2. Business Law and Ethics
3. Human Resource Management
4. Production and Operations Management
5. Management Information Systems
6. Economics
7. Computer Sciences
8. Finance and Accounting
   Principles of E-Commerce
   Data is King-Collect a Wealth of Opportunities
   Sell Everywhere – be seen and be shopped
   Mash-Ups -Integrate and Collaborate
   The Long Tail -Target Niche Markets
   Personalized Shopping – Make it Fun to Shop and Easy to Buy
   Decentralized Content Generation – Data from the Community

E-Commerce is all about gathering and management of data from all online networks to empower superior business decisions. Realizing product opportunities relies on being able to define business purposes carefully, classify related key performance indicators (KPIs) and accept frequent data to act on it.
In E-Commerce business is possible in various combinations like:
B2B – Business to Business
B2C – Business to Consumer
C2B – Consumer to Business
B2E – Business to Employee
C2C – Consumer to Consumer
Impact of E-Commerce on Business

1. Transformation in the Marketplace:
   The business can now be conducted in any location or location that is accessible online. Firms can offer their products and services through the involvement of mediators. Traditional mediation services will be replaced, new products and markets will be created, and new and closer relationships will be established between business and consumers. It will change the layout of new routes to disseminate information and communication in the workplace will open up more flexibility.

2. Facilities:
   An important competitive advantage that e-commerce businesses have over brick and mortar stores is the investment in their offices and stores. In most cases, you can run your business out of your home office and basement or garage.
   If you discard a ship’s or outsource filling, you can do that in the long run. Even if you have a lot of staff, you can set up your offices in the B or C area, because you don't need a luxury store in the right place.
   Word of advice to keep your options flexible. Try to find an office park with different spaces of different sizes. You may be able to start small and work your way up to the top without charge, as your needs change.

3. Customer Service:
   There are many options today for delivering superior customer service. You can manage those activities inside the house or take them out to a third party. Basic customer service for sales and after-sales services can be managed via email, as well as providing an 800 per-wired telephone support number.

A customer management system will make those tasks easier, but for small companies it is not a requirement.

Live chat will affect your performance as someone needs to be available for specific working hours. Make sure you weigh the impact of that on your organization, if you decide to handle those tasks indoors.

1. Finance:
   As with other business activities, you will need to decide if you want to manage your financial operations and manage an in-house, outsource, or hybrid of both. If your ecommerce platform is firmly integrated into your accounting system, you may have very little need for an in-house accountant.

If you use different systems for your website, order management, and accounting, you may need additional data input and to make sure the data is properly managed. Many ecommerce companies use external services to pay merchants, salaries, and other basic accounting functions.

They decide to focus on sales, marketing, and customer service. This allows them to focus on growing their business, instead of paying for an internal accountant or doing what works for you as a business owner.

1. Administration:
   On the administrative side, you need a team of leaders and give direction to them. Good communication is important, even if you have 3 or 100 employees. Whether you choose to be more authoritative or democratic in your management style is up to you.

But choose a style and stay consistent. Make sure everyone understands their roles, as well as the overall business strategy. You may need to adjust your approach as your business grows.

1. Fulfillment:
   Another key decision is whether you will manage your establishment or turn those services into a viable home or by arranging shipments with your suppliers.

Managing your list will give you a higher level of control, but you will save your money on inventory, warehouse, and your executives. In some industries like the jewelry supply industry my previous business that held your management was a very sensible choice.

We had no other means of transporting goods, and many goods were purchased in bulk and in very small quantities. We do not rely on external fixes and protocols.
Power of E-Commerce on Business:

Revolution in the Marketplace:
The business can now be conducted in any location or location that is accessible online. Firms can offer their products and services through the involvement of mediators. Traditional mediation services will be replaced, new products and markets will be created, and new and closer relationships will be established between business and consumers. It will change the layout of new routes to disseminate information and communication in the workplace will open up more flexibility.
Wild Evolution of Business:
E-commerce will serve as a catalyst for and spread many of the changes that are already taking place in the economy, such as policy reform, establishment of electronic links between businesses (EDI), globalization of economic activity, and the need for skilled workers. Similarly, many of the pectoral styles that have already begun, such as electronic banking, direct travel bookings, and individual marketing, will be accelerated as a result of electronic commerce.
Helpful in Globalization:
Data exchange has been a hindrance to international business but e-commerce provides services to MNCs and international organizations to transfer real-time data to employees, stakeholders, and customers. E-commerce on the Internet greatly expands economic connectivity. These connections support business organizations in expanding business.
New Employment Openings:
Electronic trading will create a shift in the mix of required skills, driving the need for information technology professionals. In the electronics business, IT technology also needs to be integrated with strong business application skills, and therefore requires flexible, multi-skilled operational capabilities. In addition to the interdependent skills needed to support commercial transactions and applications, there will be a need for hardware and software developers.
New Business Openings:
Changing industrial structures and e-commerce systems allows for new business models, depending on the wide availability of information and its direct distribution - to completed clients. Moving forward is new, and we are seeing new business models by new types of mediators or data vendors. Examples currently include guide providers or search engines, such as Yahoo and Lycos, bidding sites such as e-bay, online shopping, online trading, online consulting, etc.
Advantages:

1. Customers have the widest selection on their hands (multiple tail sites, etc.). Thus, the web creates a global style market that includes more buyers and more retailers and retailers.

2. With the power of web search (which requires continuous improvement), it is easy to find the types and kinds of goods a customer wants.

3. Customers can make transactions / place orders in the same way as the information provided, so there is no disconnect between the desire to buy and the purchasing power.

4. Payment schemes are still in development, therefore, this benefit is likely to be more significant in the future.

5. E-tailers can use price discrimination much better than other retailers.

6. E-tailers can use previous transactions to identify potential product purchases at specific price points.

7. Product placement- E-tailers can modify product placement (user interface) depending on previous activities, increasing the visibility of the goods a consumer can purchase most based on their close relationship with previous purchases. Therefore, placement can be built based on the context of previous purchases.

8. E-tailing offers certain benefits to the consumer that no other marketing method can offer. The hypertext status of the medium allows for flexible forms of transactions — the growth of C2B and C2C underscores this point. It allows for the ease of comparison between broad product categories with the emergence of purchase bots and allows for more efficient pricing methods leading to dynamic prices.

9. This provides an advantage for advertisers who offer products with real value (tangible) and consumers in general. It also penalizes successful retailers in markets that have "information" barriers to entry, where a lack of customer information has hampered their choices and led to inefficient laws and private companies.

10. World-based e-inventory vendors are known around the world for having automated and efficient repositories, bringing new dimensions to the industry.

Limitations:

1. All customers may not be able to access the web, as they do in the postal system. This is a temporary problem as web emergence continues.

2. Easy use can be a problem, as web design may seem complicated to some users or sometimes confusing.

3. Online retail stores are not limited to the design of catalogs and stores (which use planograms alike).

4. Therefore, different user behavior and patterns (roaming schemes) need to be seen in each online store. This is also a temporary problem as web emergence continues.

5. Most of the time, the lack of hope, security, and privacy concerns prevail. Consumers are concerned about the disclosure of data they provide / enter during transactions.

6. In the case of the Indians, tax requirements and regulatory difficulties, coupled with the slowdown of the Internet and many other problems, present other challenges.

NOTE: If you want to know that how can you learn about it and from where you learn it so tell me in comment and please like this post if you like it Thank You So Much