Objectives : This assessment task relates to the following course objectives:
Requirements: Your e-business proposal should address:
The procedure of purchasing, selling, exchanging information, products & services through a computer network such as the Internet is known as E-commerce. It is sometimes business to business and also sometimes business to customer. By 2020, the global ecommerce sales by grow by $4 trillion as per the estimation. US alone acquired sales revenue of $322.17 billion in 2016. On the other hand, it was estimated that revenue of $6 billion will be reached by India in 2015 (Ferreira, 2018). With these figures anyone can apprehend the prospects present in this industry. Companies can tap on the benefits of the global market significantly enhancing profit and sales. Some of the benefits include no geographical restraint, lower costs, reducing travel cost & time, speedy product location, offering comparison shopping, enabling coupons, & a lot more.
Responsive & with a low risk-averse in comparison to big companies, SME companies can acquire much more advantages from E-commerce platforms. Right from tracking customers, easy inventory, lower costs, expanding business, building long-term relationships with clients, E-commerce is equipped with potential for small businesses.
In this e-commerce assignment, the identification of e-business technologies & e-business models will take place for a SME company called Ballarat Trade Fair Consultancy so that it can boost efficiency in marketing & communications for deriving merchandise sales. With a sound E-commerce website, the order numbers can be increased as the Australian clients & overseas exhibitors can contact the company any time and from anywhere. To thrive successfully, BTFC has to tap on the options offered by technology in the current times. With this, their position will become robust with no threat of uncertainty neither from client companies nor from the industry.
Business perspective of E-commerce
E-commerce is a massive concept spanning amidst manifold dimensions. Let us study the Business perspective of E-commerce. It is nothing but the application of latest technology directed towards the mechanization of business transactions. These transactions are mainly for fabricating & redefining connections for value creation amidst either among organizations or between companies & customers (Juneja, 2018). On the business to business front, companies re re-engineering their operations such as marketing, supply chain management, advertising, customer relationship & sales order management for suiting E-commerce modes.
The relocation to E-business environment for any small company can be first be challenging that calls for the transformation in their business strategies, models and also includes the integration of technology with various business procedures. In the conventional times, organizations were completely product oriented but the modern era compels them to be customer centric. This can be possible with the re-invention of business models where the driver is nothing but technology.
The spirit of E-business lies is speed. Speed & time are those driving factors in the contemporary era that can build or break companies today,
Technical perspective of E-commerce
The effective functioning of e-commerce depends on various technical aspects. This incorporates internet utilization & networking. Any kind of website development can smooth the progress of applications on the basis of a sound Internet service. Marketing operations especially need a sound Internet server so that businesses can remain aware of the upcoming marketing trends in the current industry.
The reality of exchanging information or selling products online, calls for sound technical preparation. Some of the technical factors that function as a driving force behind successful E-commerce websites are:
E-commerce business applicationsIn the present times, the importance of E-commerce cannot be measured in words as it has become indispensable for every business that wants to give an edge to its brand. The six variety of E-commerce that we can find are (Kauffman, 2018):
Be it any sector, the need for Ecommerce & its varied applications are felt in every stage.
There are manifold available technologies that can operate online businesses with efficiency as well as build the finest E-commerce stores (Hasan, 2017). The business plan must include both hardware & software technologies.
E-commerce website requisites
Loyal & potential clientele can reach your E-commerce website from anywhere but improper setting up of the website will never capture the attention of the visitors. Due to this, there will be no brand recognition as well (McDavid, 2014). These factors must be kept in mind during the development of E-commerce websites.
Political, Ethical & Social E-commerce challenges
Internet in the present times is nothing other than a boon for mankind because of its incomparable avenues with which it makes peoples’ lives easier (Babu, 2011). But it can be a threat to social values, give rise to new crimes and can impact environment as well.
E-business proposal for BTFC
The adoption of electronic business by many companies has taken place in the recent years as it enhances efficiency & strengthens competitive position. This e-commerce assignment contains an E-business proposal for the highest efficiency in all the operations of the SME Company, BTFC (Duggan, 2018).
Functioning for Australian organizations, Ballarat Trade Fair Consultancy offers these companies with prospects of participating in abroad trade fairs. The company is into a client serving industry where it indulges in all kinds of arrangements including stands, managing client visit to fairs, involving clients with trade fair executives, etc. The business model of the company incorporates web based operations that various clients avail. An implementation of an e-business model as proposed in the report that can augment resource utilization to the highest level. It can make the organization gain more profits from the manifold business activities.
Every company, every business in today’s world is running after one thing ‘Revenue’. When it comes to BTFC, I have suggested two models which are subscription & transaction model.
With competition fierce in every trade, SME companies with web-based operations can be easily replaced. BTFC on hand is an organization that many people are not familiar with. With the nature of influential work BTFC is associated with, it is vital for the company to fabricate a niche for aligning business plans along with the marketing plans for outshining any competition.
Every business equipped with E-commerce websites gain popularity faster. For BTFC, a website will not only simplify its operations but will also bring in more valuable clients. The online advertising of goods will go through a hike of 145% each year.
Prior to organising trade fairs, the company authorities must have acquired know-how about the industries that it will be serving and its requirements. But without the implementation of marketing plans through E-commerce website, it will be challenging to satiate the changing and growing requisites of the Australian companies.
The objective of this organization rests with being the most trusted trade fair consultancy. Redefining contracting with its easy terms and conditions is the goal.
The target market of BTFC is mainly Australia, South-East Asia & Europe where event management is a massive segment. In the previous fifteen years where unremitting economic growth has been perceived, there came a transformation in the market situation that questioned the benchmarks for quality, influence, organization on the connected industries for enhancing efficiencies for every industry stakeholder. There is a need for strategic analysis to be carried out so that the actual development level of the industry can be evaluated. With the help of E-commerce network & communications infrastructure BTFC can expand the business to a massive audience. This will automatically position a huge impact on the revenue.
E-commerce network & communications infrastructure
BTFC in order to support every operation for its clients has to get hold of an infrastructure. For instance, if the value proposition of your brand is to offer optimum customer service level for premium product, the infrastructure must incorporate the procedures must include delivering speedy responsive service like self-service tools, turnaround on orders & questions & live chats (Traxler, 2012). The E-commerce infrastructure results mentioned here will ensure that the overhead expenses are low.
Some of the infrastructure decisions are:
BTFC’s key brand activities revolve around organizing trade fairs. In this E-business proposal, I am suggesting the incorporation of digital platforms for carrying out the same. By this, there will be no requirement of struggling to set up direct contacts amidst visitors & exhibitors during all the events. With this business model, sellers will be able to sell to a worldwide audience as well as the clients can make a worldwide choice (Bhalla, 2017).
Direct interaction with customers with the help of this E-commerce procedure will also cut down the product division chain to large extents. A transparent channel amidst the service provider & the ultimate customer can be made.
As BTFC connects varied industries as well as their demands & supply, it has to focus on special positioning in respect to many other service industries. This means that the company participates in value & distribution chains of the particular industries. With the incorporation of E-business applications, small steps can be taken for capitalizing on the advantages of procedure improvement that is needed by e-business execution for decreasing negative aspects related to interruptions in ongoing business activities (Ramachandra, 2015). The company has to comprehend the importance of an E-business that is Internet based and that it depends on a good website which is updated regularly.
Innovations carried out in communications & technology has now enabled businesses to function globally. E-business or E-commerce is a means of cost-effective marketing that offers control to businesses for representing their products in their own way. By looking at the above-mentioned applications and uses of E-commerce, one can apprehend what benefits it can bring to any business. Starting from deriving revenue, initiating sales, targeting correct audience, incurring brand recognition, opening prospects for overseas trade, E-commerce has it all. As the company BTFC operates as a link between overseas trade fair exhibitors & Australian firms, it can benefit a lot from an E-commerce website that portrays the revenue model. They can now connect easily with BTFC’s E-commerce website. It was observed in this e-commerce assignment that the objective of the firm will be putting forward impact full business contracts to the topmost contracting companies along with an account of the secured payment gateways. E-commerce assignments are being prepared by our IT Management assignment help experts from top universities which let us to provide you a reliable australian assignment help service.
Babu, R. (2011). E-Commerce Ethical and Legal Issues [Blog]. Retrieved from https://blog.qburst.com/2011/03/e-commerce-ethical-and-legal-issues/
Bhalla, P. (2017). Types of eCommerce Business Models, Pros, and Cons - KartRocket. Retrieved from https://www.kartrocket.com/blog/ecommerce-business-models-types-pros-cons/
Duggan, T. (2018). How to Write eBusiness Plans. Retrieved from https://smallbusiness.chron.com/write-ebusiness-plans-39912.html
Ferreira, N. (2018). 20 Ecommerce Advantages and Disadvantages You Need to Know [Blog]. Retrieved from https://www.oberlo.in/blog/20-ecommerce-advantages-and-disadvantages
Hasan, A. (2017). What Technologies Are Needed To Build An E-Commerce Website? [Blog]. Retrieved from https://www.arpatech.com/blog/technologies-required-for-ecommerce-store/
Juneja, P. (2018). Basic Understanding of E-Commerce. Retrieved from http://MSG
Juneja, P. (2018). Basic Understanding of E-Commerce. Retrieved from http://MSG
McDavid, B. (2014). 5 Things to Consider During eCommerce Website Development [Blog]. Retrieved from https://blog.wsol.com/5-things-to-consider-when-developing-an-ecommerce-website
Ramachandra, A. (2015). A 7-Step Framework for Successful Ecommerce Implementation [Blog]. Retrieved from https://www.embitel.com/blog/ecommerce-blog/framework-successful-ecommerce-implementation
Traxler, D. (2012). 7 Key Ecommerce-Infrastructure Decisions [Blog]. Retrieved from https://www.practicalecommerce.com/7-Key-Ecommerce-Infrastructure-Decisions