The business world has become increasingly difficult to become successful in. In order for organizations to overcome this difficulty, they must be able to explore other business-related options. It is essential that their operations are fast and efficient, while simultaneously maintaining strong customer relations. One option that has recently proven to be an effective aid for businesses to progress is Electronic Commerce. It allows unlimited business hours due to its around the clock operations, lower labour costs than a traditional business, and exposes the business through a larger market by means of the World Wide Web. With our ever-changing society undeniably striving for technological ...view middle of the document...
This information is then sent in and checked by the business. After all the information has been verified, the product would then be delivered to the customer through a courier service. Last but not least, the customer receives the merchandise and is satisfied.E-commerce allows unlimited business hours due to its around the clock operations. Since transactions are conducted through the internet, E-commerce-based businesses are practically never closed. With the exception of internet downtime, E-commerce permits companies to be at full operational strength 24 hours-a-day, seven days-a-week. Traditional nine-to-five businesses can only sell their products during business hours. This limits the amount of goods they sell, which essentially leads to smaller profit margins. If every company had the resources to function around the clock, they would most likely do so. In theory, being open beyond regular business hours would result in a greater number of sales, which would, in turn, lead to higher earnings. However, in reality, this is not necessarily accurate based on several factors. First off, customers would prefer not to leave the house at two in the morning to make a purchase. With E-commerce, customers can stay in the comfort of their own homes and still be able to make that very same purchase. Moreover, transportation could restrict potential customers from reaching the store early in the morning. Public transportation only runs for a certain amount of hours, especially on weekends, and many people do not have the luxury of a car. E-commerce does not require a means of transportation, all that is needed is a computer, internet access, and a credit card. Based on these two points, we can say that E-commerce is an effective way of doing business.E-commerce requires fewer administrative staff to function, meaning lower labour costs in a traditional business. The fact that lower overall salaries are being paid out, there will be a partial increase in profit. Company websites are capable of performing many duties that are traditionally done by lower ranked employees. For example, with E-commerce it is not necessary to hire cashier positions because the computer automatically calculates and records each purchase. This process is a lot faster and therefore will increase customer satisfaction because there will be no possibility of employee-customer predicaments. Product information is clearly explained since all the details can be listed on the web page. Customers would then have full knowledge of a particular product without having to speak with a sales representative for long period of time. Another issue with sales representatives giving out information to customers is that they may not know all of the product specifications. Some customers could get upset at the sales representative if they are not knowledgeable enough about the products and this may possibly cause the company to lose a customer. E-commerce eliminates both some labour costs and it...
