Delivery in day(s): 5
COIT20250 E-Business Systems Assignment Solution
Online Commerce or e-business is any business or commercial operation that includes sharing info across the internet. Commerce establishes the exchange of merchandises and services among businesses, assemblages and individuals and can is perceived as one of the essential accomplishments of any company. Electronic commerce emphases on the use of Information technology communication technology in enabling the external undertakings and relations of the company with people, groups and other industries or e-business denotes to market with the aid of the internet, i.e., doing business with the assistance of internet network (Chaffey, D., 2015.).
The retail entity under consideration is Fantastic Furniture founded in Australia. It is an Australian held and operated a furniture seller. The company functions under Fantastic Holdings Limited (FHL). It started as a marketplace stall at Sydney’s Park-lea Bazaars in the year 1989, by associates Paul Harding and Jonathan De Jong, who was selling outside furniture. Fantastic Furniture retailer operates its functions nationally and overseas as they have an enormous choice of furniture available both in a physical store and online, counting to own range of sofas and cushions that are manufactured right in Australia. The company knows well that visiting stores examining for that perfect office storage solution, children furniture, dining table or furniture package can be time intense and that why they offer a vast assortment of affordable furniture online, so that the customers can find all they need in one place and peruse from the comfort of their own home. The company believes that operating online brings about many advantages as it improves the volume of sales made at a particular time. When the amount of sales is high this, in turn, means that profit realization is high thus bringing the growth aspect of the business. The company also minimizes the operating costs of their overall operations since they will require no staffs to accompany their products on the market. Also, they need no physical store in the marketplace hence no rent is paid for such feature (Fielt 2014).
Security in e-business
Every business is performing their operation online they must consider the security issues brought about by technology. Competitors and other frauds may decide to enter into their system and still meaningful data which when exposed to outside market will decrease their sales volume. Cybersecurity is among the most critical geographies of electronic commerce. Without correct protocols in place, online stores put themselves and their clients at risk for payment fraud. Minor stores face even superior e-commerce security risks owing to insufficient internet security from cybercriminals. Not only is equitation a considerable risk for all online suppliers, but acquiescent a fraudulent reimbursement also comes at the cost of having to repay the charges. Outside of monetary consequences, data breaks damage a brand’s status and can cause once loyal clients to avoid putting their info at risk again. Though, using the right gears minimizes the threat of fraud and instill trust within their customer base. Measures to prevent cybersecurity issues must be enhanced in the organization where unauthorized access to data and system be curbed efficiently (Suder, Wu, and SMEsOI, 2017). Use of biometric scanners may be installed to staffs in the system, and this means only permitted crews will have access to the network. Also, encryption capabilities may be enhanced to the vital data in the senior management department that displays the company’s brand. Data encryption means that intruders to the system will have no capabilities of getting intended message during data transmission in the system.
Active Malicious Threats
While malware can submissively infect computers, external parties can also enthusiastically attack web corporations. An e-business typically let users interrelate with a website, possibly by listing for an account and acquiescing various forms to the commerce's web server. Skilled computer users may be in a position of exploiting weaknesses in a website to gain admittance data that they are not permitted to have access. Hackers can steal info like customer names, credit card figures, and passwords, or they may insert malicious code into a webpage that causes data harm. Malicious operators may also make-believe to be trusted establishments or friends to trick employees or executives into divulging sensitive data, and this tactic of data stealing is known as phishing (Gregory et al., 2017).
Online retail growth
Online stores are forever hunting for growth, and there is the mutual aspect where every successful e-business manager tries to figure out on a daily basis. One aspect is the acquisition of new customers, and the other is loyalty which tends to enhancement by repeat customers. Fast growth necessitates a steady stream of new clients for the business and their team to convert into larger cart scopes and more recurrent purchases. One of the compensations of online retail over offline trade is the ability to reach new for customers in the market that is cheaper and at ease to exert at this scale. Customer reviews and comments in the webpage plays a vital role in developing online business as new customers visiting the site will be encouraged to purchase by positive reviews from old customers (Reshma, Aithal and Acharya, 2015). Offering quality services/products defines how customers will brand the image of the company to the outside world and for reasonable quality service is a vital consideration when the managers are in dearth of growing to greater heights in future. Fast growth is achieved by increasing acquisition and customer’s devotion without the barricades faced by offline retailers.
Online Businesses Automation
Online businesses are great and smooth in operation since they automation capabilities. Automation in e-business is encouraged as retailers will purchase software’s that will be performing some tasks on their own without human intervention. Kim and Peterson (2017) state that automation capabilities enhance efficiency in operation as they are less prone to errors as compared to human beings. These automated applications will compute all the calculations and tasks associated with a particular product and later get the realized profit. E-Business is developing in vast with the surprising rate, and this is the only tactic in the modern day corporate reaches to their clients. To stimulate the business and to enlarge the client database a retailer should have online web existence. Retailers and sellers who ignore online professional get fewer companions at their doorstep because of substantial online sales and individuals love to get the yields delivered at their homestead, and there is a preference of money back if there are defective or broken instances during delivering chain. One needs to be much careful when conducting an online business and be very cautious in considering the advantages and drawbacks of online business. Preserving individual’s time in surveying market and merchandises before deciding online commerce or offline commerce business model(Kurnia et al., 2014).
Impact of smartphones on e-business
According to Scarborough (2016), the swelling popularity of smartphones provides consumers with greater access to info and products than there before. The current technologies are growing by bounds and leaps. And with the fluctuating technology, the techniques of business is also fluctuating. For data, speech and image communications, the universe has come together in one room in the form of smartphones. With the arrival of these smartphones including tablets are becoming progressively powerful in aspects of accessibility of info in e-business. The propagation of such expedients has diverse influences on various scopes of IT, business performs and consumer performance. The power of the smartphone has infiltrated in no small degree that information is accessible to the consumers at their fingertips. According to Pantano (2014), mobile expedients are becoming nearer to digital wallets. The mobile phones are no more deliberated as future technology; it is in detail very much employed in the present setting. One facet of e-business is suitability and smooth in application and smartphones are bringing up claims that make it easy for consumers to peruse and shop online. The chief driving factors in his instance are the mobile shopping applications and barcode scanners. Cameras will scan the barcode to get the price of a particular product, and then quest the internet to find similar prices at other retailers.
Future of e-business
In the forthcoming, all physical retail collection will be less about delivery. Purchase and supply will happen progressively through online stations. From the case, Doug trusts stores should start focussing more on aspects of distributing experiences. As more and more individuals are espousing wireless expedients and retrieving the Internet on them, e-commerce’s prerequisite is updating their expertise and tactics to enable mobile business efficiently. As the quantity of conduits is thriving, the e-commerce are also presenting multichannel-access to their clients. However, to hold the clients sureness, e-businesses should assimilate all their passages and pledge that the client gets quality services from all conduits. Amalgamation of initiative applications is dynamic for the success of e-commerce (Wang, Wang, and Liu, 2016). But some productions are unable to integrate their bequest systems with new submissions. Technical elucidation providers have brought up middleware products that assist in the achievement of the required integration level and the competency to endure in market competition.
Online business enhances skills as the complete supply chain can be interspersed with business to business e-commerce schemes, procurement becomes quicker, transparent, and inexpensive, and there is no need to grip currency notes or cash that further cuts down on costs and occasions for accounting faults.
Lastly, e-commerce allows retails stores in tracking logistics that is key to a successful e-commerce enterprise, as well as sell low-volume merchandises (Business 2014). Although conservative retail emphases on fast-moving stocking products, the economics of e-commerce allow slow-moving and even old products to be comprised in the shopping catalogue.
Conclusion and recommendations
Since e-business provision is no longer deliberated an afterward sales action, e-businesses should be equipped to offer package the moment a user interrelates with the company (even before the acquisitions a product from the spot). Moreover, e-businesses need allowing clients in configuring their products and make adjustments also after they deliver their orders to the retailer. The website associated needs be user-friendly and permit users to compare various yields on offer and choice the best one. To appear as a real virtual corporate, organizations essential in outsourcing all the occupations excepting the one where its core capability lies. In e-business, companies need to be active and produce a vigorous character in the continuous growths in expertise. According to Andam (2014), technology structure companies are working on union technologies in enabling data transmission and audio-visual through a single network.
1. Andam, Z.R., 2014. e-Commerce and e-Business.
2. Business, E.I.M., 2014. Policy Research (2002). Taxi Abroad: Part II Country Reports-An inventory of experiences with regulated and deregulated policies abroad.
3. Chaffey, D., 2015. Digital business and e-commerce management. Pearson Education Limited.
4. Fielt, E., 2014. Conceptualising business models: Definitions, frameworks and classifications. Journal of Business Models, 1(1), pp.85-105.
5. Gregory, G.D., Ngo, L.V. and Karavdic, M., 2017. Developing e-commerce marketing capabilities and efficiencies for enhanced performance in business-to-business export ventures. Industrial Marketing Management.
7. Kim, Y. and Peterson, R.A., 2017. A Meta-analysis of Online Trust Relationships in E-commerce. Journal of Interactive Marketing, 38, pp.44-54.
8. Kurnia, S., Choudrie, J., Mahbubur, R.M. and Alzougool, B., 2015. E-commerce technology adoption: A Malaysian grocery SME retail sector study. Journal of Business Research, 68(9), pp.1906-1918.
9. Pantano, E., 2014. Innovation drivers in retail industry. International Journal of Information Management, 34(3), pp.344-350.
10. Reshma, P.S., Aithal, P.S. and Acharya, S., 2015. An empirical study on Working from Home: A popular e-business model.
11. Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management. Pearson.
12. Suder, G., Wu, R. and SMEsOI, C.E.O., 2017. A survey of Chinese SMEs on plans, experiences and perceptions of global e-business. Small, 300, p.30.
13. Veit, D., Clemons, E., Benlian, A., Buxmann, P., Hess, T., Kundisch, D., Leimeister, J.M., Loos, P. and Spann, M., 2014. Business models. Business & Information Systems Engineering, 6(1), pp.45-53.
14. Wang, W.T., Wang, Y.S. and Liu, E.R., 2016. The stickiness intention of group-buying websites: The integration of the commitment–trust theory and e-commerce success model. Information & Management, 53(5), pp.625-642.