The Role of Electronic Commerce in the Current World Free-Samples

Questions: 1.Define the role of using Electronic Commerce on the Business expansion 2.Recognize the typesof Business Models 3.Recognize the related revenue model in the selected website 4.Recognize the Implemented Business strategies in the selected website. 5.Describe the Development of Secure Electronic Transactions on the Internet 6.Explain Privacy Policies, Online Auctions and any potential legal or Ethical Issues 7.Describe the ways that the website manages the Customer relationship. Answers: Introduction The business report has been created for understanding the role of electronic commerce in the current world. Choice of the Australian e-commerce website has been made to understand and carry out the in-depth study. This website is for eBay Australia. Australia is a kind of Asia-Pacific's largest they've left e-commerce market which provides with a huge market size and technology savvy client base which prefers to shop online. As per A.T. Kearney's Global retail e-commerce index published in 2015, Australia was holding 10th position all over the world with respect to e-commerce market's capacity to attract buyers (Atkearney.com, 2015) There have been rising number of Australians who purchased online due to the is and huge variety to select from, being offered by e-commerce. In the year 2014, the eBay was one of the top five e-commerce websites, followed by company and Amazon. This survey had been undertaken by Experian Hitwise Australia (Rajput, 2016). 1.The role of e-commerce in business expansion: E-commerce has had individuals who get to buy at any time of the day, in a convenient way even when they are sitting at home (Karakaya and Shea, 2008). Even the clients save huge time and money because they get so many options to buy from. The sellers also have got added advantages in terms of expansion of business. Looking at the structure of eBay, it can make use of e-commerce for keeping a constant check on the buying habits of people and see what interests the people. As per these requirements, eBay can provide with huge amount of goods and services which suit the needs of clients. EBay has been using this strategy of constantly improving its current relationships with the buyers and getting into long-lasting relations. The business can expand easily by use of e-commerce because the set up cost is very low in comparison to any physical outlets been started. E-commerce required very less number of submissions and licences because it did not start with any physical store rather jus t an online store. There has been a growth because business has been saving lots of funds by hiring of lesser number of staff members to carry outtheoperations such as management of inventory;dealing with clients and others which would have been much more in case there had been a physical store (Huang and Benyoucef, 2013). One more highly significant benefit that e-commerce offers is that the store is open for 24 x 7 x 3 65 because the e-commercewebpageare running throughout. This way the sales get increasedand peoplecan alter anything irrespective of time (Boateng, 2014). The e-commerce has helped a lot inexpansionof business because now there is no need to invest the funds to words physical storage, insurances and big infrastructuresbecause allthat is needed is a great design, are unique items so that the clients by the courts. This way the e-commerce websites save on their cost and the same benefit is transferred to the buyers in terms of economical and reasonable pricing of goods (Barnes, 2016). Just like e-commerce was nice can be useful for the B2B businesses to attain new clients similarly it is useful for posting the brand awareness regarding the company. The development ofwebpagewhich can be indexedthroughthe search engine crawlers is a kind of approach that can be used by different e-commerce retailers toboost their sales and target audiences. It also helps in expansionoffmarketfor niche products because in the physical world it seems the farther purchasers and sellers to locate each other however when there is anE-storethen the buyer can simply find what he is looking for (Datta, 2010). This way thebuyers canbuy anything without any hassle and from any part of the world. Byuseof effective e-commerce solutions for, eBay has been able to expand simply tofulfilthe market demands and it has beencallto reach to the different parts of the world. 2.The types of business model The types of business models used by eBay (Editors, 2017) are: Yard sales: people buy you need rare items at yard sales of free markets and then option it on eBay. Consignment: the eBay has a consignment business model which fetches the goods to people instead of people looking out for those goods. As per this model, people give advertisement locally for the quality items that people wish to sell out. The item is found and then the individual decides if this item would be sold when officially on eBay or not and then a consignment agreement is created. This way the consignment agreement documents that the person will shell out the percentage of auction prize in case the item is sold. The individual clicks pictures, makes an auction list and takes care of the payment and deliverance therefore the selling price has to pay higher to cover all those costs(Smallbusiness.chron.com, 2017). EBay stores: why this the seller can start with an online store where the goods are sold at plea decided prices rather than any kind of waiting on auction. This business model is light by a lot of people as they can easily know the amount of profit that they would be earning by sales. Option selling: the sellers put their product for sale through auction on eBay auction store where the potential buyers can wait for the Product. Wholesale: this model focuses on sales of birds in bulk rather than individual selling and this is generally are B2B model Drop shipping model of eBay: it is generally utilise my eBay stores to give the goats for direct selling. In this the seller doesn't has to stop any goats rather a drop shipping partner has to be found who fetched the items to be sold through eBay. 3.The related revenue model in the selected website EBay does not hold any stocks like Amazon.com. It just offers the technology platforms and equipment for carrying out the e-commerce. EBay has a lot of revenue models: It generated the transaction paymentby owning PayPal, but after the separation from the PayPal it has been facing hard time attracting more visitors eBay also attains byselling of the service of list customers goods to be sold to other buyersi.e. seller pay the percentage of their sale to eBay for using the website as a platform to sell It earns a little of advertisement fee (Miglani, 2017). EBayis able to yearlygenerate revenueof approximately $6 billion from its three keytrades: auctions, imbursements (PayPal, but this has split now) and communication (through Skype). 4.The implemented business strategies in the selected website As a part of its e-commerce strategy, eBay has brought about bring some changes which involve the improvement in site search capacity is so that the lookout for items would be furtherorganised. Rather than listing ofentiresetof available courtswheneveranything is looked out for, now there has been differentcategorisationslike "best value ", "brand-new "and similar other categorisations. This has allowed the buyer to narrow down his search and the buyer will get improved choices which closely match to the requirements (Turnaround challenge, 2014). One more aspect of the e-commerce strategy is the way eBay is working on the ranking in the Google search results. It is trying to resolve the issue of websites searchoptimisationbyimproving the structure of information. The average time of shipping for any eBay order is three days and it plans to continue with the same delivery strategy. 5.Development of secure electronic transactions on the Internet Secure Electronic Transaction (SET) is the approach used by e-commerce businesses for ensuring the protection of monetary transactions on the websites. It has been supported by MasterCard, Visa, internet banking, Netscape, etc. By use of SET, a user is provided with an a digital certificate and any exchanges is performed and confirmedby a blend of digital certificates and digital signatures between the buyer, a merchant, and the buyer's bank in a manner that allowsconfidentiality and secrecy. The One time password (OTP) is sent to users mobile, which has to be entered for the transaction to be successful. At the checkout page, the user enters credit card numberinthe checkout page and the details of buying her sent to claimant gateway to be processed (Jarupunphol and Buathong, 2013).This weathertransition detailsare forwardedthrough the payment gateway to the Bank of the seller. This bank againforwardthe formation of the transaction to the bank from which credit card has been issued f or the theorisation of the exchange. In case of the approval or denial the information is sent back to the bank of the seller. In case of approval of the card the bank deposits money into merchant account at apredefined time. The transaction information is sent from other payment gateway to the eBay and even informs the buyer that the transaction was successful or not. 6.The privacy policies, online auctions and any potential legal or ethical issues There ethical issues: Who should be given access to information? Who is the owner of data? Who has to maintain the accuracy and protection of data? How the data captured has to be used and how this use has to be monitored? Privacy issues: Risky data with employees of e-commerce business The mails, calls and communication needs to be tracked Privacy of records (Choton Basu, 2005) Legal issues: Privacy Customer and seller protection from the fraudulent activities Censorship vs. freedom of speech regarding dissemination of information Intellectual property rights Spam Internet stocking fraud Bogus investments Non-financial issues like poor quality, damaged goods, unnecessary delays in delivery 7.The ways that the website manages the customer relationship EBay makes use of the customer relationship management tool and it trains all of its workers on the usage of this tool. All the activities are logged in to the CRM tools that are the client calls, all emails are passed through this tool (Nassar, 2015). There is complete information and daily reporting is carried out. This reporting allows the business to build its customised reports for tracking the efficiency of the representatives, looking out for the problematic areas and also for the problematic clients. Recommendation for improvement of the website performance The clients must be assured that they are accessing the real web page and its not a fraud. The consumer protection must be assured (Lendle and Vzina, 2015). There has to be seller protection also in case the clients deny of placing order or the clients download any copyright software to sell to other people. For going to different countries, there must be an option of choosing different pages in which webpage get translated. This will make the communication easier and also the buyer will not lose interest in the page and also they will have trust in the website References Atkearney.com (2015). Global Retail E-Commerce Index. 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