E-Commerce Overview

E-Commerce Overview

An e-commerce solution for a business is the incorporation of all aspects of the business operation into an electronic format. Many well-established businesses have been selling on-line for years. For example, Dell Computers Corp., has been selling computers directly to end-users for years. Currently, Dell is selling excessive of 1 million dollars worth of computers everyday on the World Wide Web (WWW). When a business has incorporated an e-commerce solution, the business will experience a lower operation cost while at the same time increasing its profit. The e-commerce solution will allow businesses to eliminate unnecessary paperwork. All paperwork and data can be transformed into an electronic format. Thus, it will eliminate valuable shelf space and data can be searched and accessed in matter of seconds. E-commerce will also automates the sales process. Customers can "point & click" on the products they wish to purchase, fill out the customer information, and the product will be shipped and received in a matter of few days. The administration department does not have to fill out any paperwork because the customer had done it already. Thus, the efficiency will be greatly improved. With an e-commerce solution, the business will be open 24 hours a day, 7 days a week. People from anywhere in the world with an Internet access will be able to visit the site at any time. They will not be restricted to the "normal" business operating hours. A "brick + mortar" business is normally limited to serving the customers in its local geographical location. With an e-commerce solution, that business will not be limited a geographical restriction, rather it opens itself to the global on-line market. Essentially, the business' market exposure will be greatly increased. In conducting my study, I have researched extensively on the Internet for resources. I chose the Internet as my primary research medium because e-commerce is still a fairly new technology. Since it is technology related, the Internet will provide the most recent data available. Printed publications will not be able to adapt to changes as fast and efficient as electronic publications. I researched many e-commerce related web sites along with some companies that conduct statistical studies. Some of the e-commerce web sites that I looked into are E-Commerce Times, eRetail, and eMarketer. The statistical research firms that I researched are Forrester Research and Jupiter Communication. Both firms provided valuable statistical data that shows the rise of consumers shopping on-line and the predicted dollar amount that will be spent in the coming years. Methods In conducting my study, I completed the following tasks: - I searched extensively on the Internet for sites that are e-commerce related. Upon visiting the sites, I evaluated each site for the contents, thoroughness, and objectiveness. There are literally hundreds of sites that are devoted to e-commerce. However, after my careful examination of most of them, I narrowed down to four sites that I will research for this report. - I have also researched many firms that conduct statistical researches. The two firms that I will be utilizing for this report are Forrester Research and Jupiter Communication. Both firms are known for their preciseness, non-objectiveness, and thoroughness. The statistical data I collected from these two firms will support my recommendation that every business should have an e-commerce solution implemented. Results From my research, I have developed fifteen reasons why every business should incorporate an e-commerce solution into the business operation. They are listed below. 1. To Establish A Presence There are approximately 70 million people worldwide that have access to the World Wide Web (WWW). No matter what industry or business one is in, one cannot ignore 70 million people. To be part of that on-line community, one would need to be on the WWW for them. Because if one does not do it, one's competitor definitely will. 2. To Network A lot of what passes for business is simply nothing more than making connections with other people. Every smart businessperson knows, it is not what one knows, it is whom one knows. Passing out one's business card is part of every good meeting and every businessperson can tell more than one story how a chance meeting turned into the big deal. Well, what if one could pass out the business card to thousands, maybe millions of potential clients and partners, saying this is what I do and if you are ever in need of my services, this is how you can reach me. One can, 24 hours a day, inexpensively and simply, on the WWW. 3. To Make Business Information Available What is basic business information? Think of a Yellow Pages ad. What are one's business hours? What does one do? How can someone contact the business? What method of payment does one take?