Interactive Week 2
Overview: E-commerce
Brief Reflective Decomposition:
This week, I learned about e-commerce and digital business and how they are related to each other. I learned that E-commerce is used by many businesses and they use such a method for smoothly running their business operations and easily reach with desired customers. The digital business also provides growth and development to the companies where they are using digital technologies to interact and communicate with their potential clients. This week also discusses the buy-side and sell-side e-commerce which can help in increasing company growth in the large marketplace. In this, I learned that the buy-side define as e-commerce transactions between the purchasing company and its suppliers through agents. (Aithal, 2015)The sell-side with the help of e-commerce is when a firm sells it on to its clients. this week, I also understand how a company can determine the impact of digital technology on their business. The technology helps in enhancing goodwill and growth of an organization and easily communicate with their customers and resolve their issues in a better manner. It has been analyzed that most of the companies are adopting sell-side e-commerce for the B2B and B2C businesses and it will also provide the advantages and sometimes they may face barriers due to this.
Interactive Week 3
Overview: Amazon and competitive advantages
Brief Reflective Decomposition:
This week helps me in understanding e-commerce which has been used by most of the companies and assists in increasing the growth or success of the business. E-commerce is the process of buying and selling a variety of products or services using electronic sites. There are different online websites which assist various organizations for attracting a wide range of customers towards their services or goods. I have learned that site location is important for every country for e-commerce which provides to make a successful business in that nation. Along with this, I have understood that a company needs to evaluate the significance of competitive advantages that helps business to compete with their major competitors in the market area (Ferracuti, et. al., 2019).This week, I learned that many people face issues and gain benefits as well by using a portal like an amazon to handle and manage their e-commerce in the business. It is essential for an organization is to focus on delivering main points which show that such famous sites help individuals to provide them their required and demanding goods or services. It assists me in understanding better regarding the use of e-commerce in the company.
Interactive Week 4:
Overview: Business model and business plan
Brief Reflective Decomposition:
In this week, I was understood that the business model is the core strategy for doing business and this model involves various aspects such as products, services, target market, expenses and so more. This has helped the business in enhancing its growth and evaluates the customers’ choices or preferences related to the company commodities (Grefen, et. al., 2020). I have also learned that a business plan is important for every company as it assists them in easily determining what action they need to do for better development. I think, Timmers (1999) model is still suitable for the current business model and this will help in maintaining and managing all the business operations and its functions effectively. In today’s business world, this model aids in focus on e-shops, e-procurement, and many more that are currently used by different companies for improving their growth rate. In my view, a large number of people prefer to buy products through the use of online sites as it is easy and convenient for them. I believe that this model of business helps the existing firms to modify their strategies and tactics and use such a method for increasing the success level of an organization.
Interactive Week 5
Overview: Intermediaries sites and social media
Brief Reflective Decomposition:
This week discusses the relevancy of intermediary sites such as Kelkoo to the B2C business. I have learned that it is important for any company is to focus on using different sites that help in smoothly run of their business functions and its activities. Such sites and portals assist in providing valuable advantages and benefits. They are making it simple and easier for customers to identify what they require; they assist to set standards and allows the comparison shopping effectively. I also understand that such sites help in gaining the attention of their potential clients towards various services and products (Lu, et. al., 2015). I have learned that there are some competitive advantages that a company needs to gain and attain for better growth. This week, I learned that social media is one of the famous sites which are used by a large number of people in different countries and this will mainly influence desires buyers. It has been analyzed this week that social media is the main platform for various activities that includes marketing, shopping, cooking, and chatting for the people. This site is also used by businessmen for developing strong connections with their potential clients and make new customers.
Interactive Week 6:
Overview: Adoption of e-commerce
Brief Reflective Decomposition:
In this week, the tutor taught me that different services can be offered to customers through web presence. I think it is important for me is to focus on maintaining all the required facilities that can be delivered to clients and satisfying their needs and demands in a better manner. For this, companies are using an online platform through which they can easily reach with desired customers and offer them the necessary goods. I have learned that consumer and business adoption level in any nation is different from others (Rodrigues, et. al., 2016). Every nation develops some policies and laws that help businesses to increase their growth and attract new clients. in this, the main barrier of adoption that may create a negative impact on the business operation is technology, budget, and skilled workers. According to my opinion, firms need to adopt such things for the betterment of their functions. I think every business may wish to adopt e-commerce because this is the most effective method for buying and selling new products among customers. Besides this the company can gain the required income and profitability.
References
Aithal, P.S., 2015. Concept of ideal business & its realization using e-business model. International Journal of Science and Research (IJSR), ISSN (Online), pp.2319-7064.
Ferracuti, N., Norscini, C., Frontoni, E., Gabellini, P., Paolanti, M. and Placidi, V., 2019. A business application of RTLS technology in Intelligent Retail Environment: Defining the shopper’s preferred path and its segmentation. Journal of Retailing and Consumer Services, 47, pp.184-194.
Grefen, P. and Turetken, O., 2020. Advanced business process management in networked E-business scenarios. In Sustainable Business: Concepts, Methodologies, Tools, and Applications (pp. 638-675). IGI Global.
Lu, J., Wu, D., Mao, M., Wang, W. and Zhang, G., 2015. Recommender system application developments: a survey. Decision Support Systems, 74, pp.12-32.
Rodrigues, L.F., Oliveira, A. and Costa, C.J., 2016. Playing seriously–How gamification and social cues influence bank customers to use gamified e-business applications. Computers in human behavior, 63, pp.392-407.