E-commerce - Shot Term Fad or Long Term Solution?

Essay by BaapOfAllCheaters September 2009

download word file, 15 pages 0.0

Executive SummaryThe paper deals and explains the rise of Internet that has created radically new ways to touch customers, service customers and delivery products and services. The paper also explains the importance of data ware housing and customer relationship management. It also illustrates a business plan and gives the prospects and concerns of e-commerce.

Chapter IIntroductionElectronic communication generally refers to all forms of transactions relating to commercial activities, including both organizations and individuals that are based upon processing and transmission of digitized data, including text sound and visual images.

Different people may interpret it differently but the distinctive features of e-commerce are that it extends beyond the boundaries of a single enterprise, and it can be applied to almost too any type of business relationship.

E-Commerce is a paperless exchange of routine business information using electronic data interchange (EDI) and other technologies, including e-mails, e-bulletin boards, fax machines and electronic transfer of cash.

Research QuestionIs E-Commerce Vital For Business Success?Chapter II: Literature ReviewThe Prospects Of E-CommerceIndustry standards are just the beginning. Customers are building and buying mission-critical applications and they need to know what works. This ongoing process is focused in three areas methodolology for business analysis, application design and application development.

Reasons For Adapting E-Commerce-Reducing costs of business transactions.

-Reduced cost for material and services to support paper transactions.

-Increased speed for business.

-Shrinking of the order receipt pay cycle business.

-Improved trading partner relations.

-Improved intra-company flow of data.

-Situation ideally suitable for EdI/XML.

The Concerns Of E-CommerceIn Internet time the attention span of customer is just 8 seconds. After that a shopper typically moves on. What's more is that the Forrester research reports that 42% of the people leave a site unsatisfied will never return. The cost of business in uncompleted orders is simply staggering- early estimates...