Essay: Harnessing energy through knowledge – business development strategy of e-commerce companies

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Introduction

The forefront for business today is e-commerce. It remains for electronic business. It implies managing in merchandise and administrations through the electronic media and web. On the web, it identifies with a site of the merchant, who offers items or administrations straightforwardly to the client from the entry utilizing a computerized shopping basket or advanced shopping wicker container framework and permits installment through master-card, check card or eft (electronic asset exchange) installments. E-commerce or e-business includes carrying on a business with the assistance of the web and by utilizing the data innovation like electronic data interchange (edi). All the more basically, e-commerce is the development of business onto the world wide web. E-commerce has overnight turned into the overwhelming online movement. There is no single meaning of e-commerce, it implies just business action which is performed or connected to or bolstered by electronic communication. The impacts of e-commerce are now showing up in every aspect of business, from client administration to new item outline. It encourages new sorts of data based business forms for coming to and communicating with clients like web promoting and advertising, online request taking and online client administration. In now days e-business utilizes the www at any rate some point in exchange lifecycle. It can likewise lessen costs in overseeing arranges and associating with an extensive variety of suppliers and exchanging accomplices, regions that ordinarily add noteworthy overheads to the expense of items and administrations. For creating nations like india, e-trade offers significant open door. In india it is still in incipient stage, however even the most-cynical projections demonstrate a blast. There has been an ascent in the quantity of organizations\’ taking up e-trade in the later past. Real indian gateway locales have additionally moved towards e-trade as opposed to relying upon publicizing income. Numerous destinations are presently offering an assorted scope of items and administrations from blooms, welcoming cards, and motion picture tickets to basic supplies, electronic contraptions, and pcs, and so forth. With stock trades coming online the ideal opportunity for genuine e-business in india has at last arrived.

2. Rationale of study

Electronic commerce (e-commerce) seems to be everywhere these days. It\’s nearly impossible to read a magazine or newspaper without running over an article about how e-commerce is going to change and affect our lives. It is widely accepted that e-commerce and internet technologies can benefit an association yet at the same time there are very few studies about e-commerce selection in india. Notwithstanding that, there isn\’t any detailed recent study about of e-commerce in india fusing latest truthful information and trends relating to its different aspects by any stretch of the imagination. In this way, i have proposed to study this area to investigate the extent of india\’s involvement with e-commerce applications, its detailed conceptual framework, evolution, stories of top indian players in this field and locate a set of guidelines or recommendations on the best practices of e-commerce appropriation which may help the indian e-commerce firms.

3. Objectives of the study: the objectives of present study are:

1. To understand the evolution of e-commerce

2. To describe the conceptual framework of e-commerce in india;

3. To analyze the present trends of e-commerce in india;

4. To examine the barriers of e-commerce in india.

5. To predict future of e-commerce

4. Research methodology

I have reviewed the academic literature to pick up understanding into “e-commerce in india”. In this way, different articles, diaries, books, websites etc. Have been used to study the evolution, conceptual framework, definitions, key players, present trends (relating to internet penetration, development prospects, modes of payments preferred etc.), future prospects and barriers of e-commerce.

Every one of the information included is secondary base and proper references have been given wherever necessary.

5. Review of literature:

Keyword search on “e-commerce selection in india” “e-business in india”

“e-commerce and india” and “e-business and india” in different databases like ebsco, proquest, and emerald management xtra found the accompanying ten

E-commerce/e-business research articles done in indian context

Raven et al. Compared india and china\’s approaches in selection of e-business. Based on the literature survey and secondary information, the study analyzed different variables influencing the development of e-businesses in the two countries. The elements examined include government arrangement and center, existing technology infrastructure regulatory environment, experience and understanding of business operations, and culture, among others. The study concludes that china appears to be ahead of india in the infrastructure, however india is ahead in e-readiness. Further, it states that both countries are poised for quickly increasing e-business, however, problems of poverty and inequality between urban and provincial connectivity must be resolved to really take advantage of e-business in both the countries.

Malhotra and singh studied the determinants of internet managing an account appropriation by banks in india. Panel information of 88 banks in india covering the money related years 1997–1998 to 2oo4–2oo5 was collected through cmie (center for monitoring indian economy) database. Logistic regression examination was used, the dependent variable is categorical with a value of 1 if a bank adopted internet keeping money amid the study period and o otherwise. Independent variables included in the study are firm size, firm age, bank deposits proportion, average wages, expenses (fixed assets and premises), roa (proportion of average net benefits to average assets), market share, average number of branches, percentage of banks adopted internet managing an account. The results of the study prove that bank type (private), firm size, bank deposits proportion, firm age, market share, average number of branches, percentage of banks adopted internet saving money and expenses, are observed to be huge in selection decision. Wage and roa are observed to be unimportant. This study contributes to the empirical literature on dissemination of budgetary advancements, especially internet managing an account in indian context. The greater part of the study on selection of technology was related to developed markets like us and europe, this study is a critical commitment to evolving literature as it dealt the problem of technology appropriation in developing nation context.

Study by tarafdar and vaidya examined the variables that determine the hierarchical slant to receive e-commerce (ec). The study proposes a framework based on the qualitative information on four money related firms in india collected through multiple case study design. Face to face interview was used to collect essential information and existing database, organization documents, press reports and websites are used to collect secondary information. The framework describes two expansive elements—leadership characteristics and authoritative characteristics—to explain the influence of hierarchical components on the propensity to employ ec technologies. The study found that both leadership and hierarchical characteristic influence ec selection. It establishes that leadership characteristics influence appropriation of ec technologies in centralized association and hierarchical characteristics influence ec selection in de-centralized association. The study additionally found that characteristics of information systems professional and association structure influence ec selection.

Another study by tarafdar and vaidya, analyses hierarchical and strategic imperatives that influence information system (is) absorption in indian associations. Is absorption here refers to the extent to which a system or technology becomes diffused in authoritative processes. The study is based on multiple case study method. Information on nine firms which have deployed is was collected through face to face structured interview including middle managers, senior managers of is and other departments. The study examines the nature of the system present—information processing/exchange oriented, operational, strategic—and how these systems affected key operational processes. Strategic imperatives are examined by breaking down the environmental elements—presence or absence of government regulation, pressure from customers, suppliers and competitors, and strategic stance—whether item and process changes, and the consequent is deployment were proactive or reactive organizational imperatives were investigated by qualitatively assessing six variables—top management backing; is department knowledge of business, technology and involvement in is deployment, it literacy of managers, management style; presence of it champions and accessibility of it resources. Information was analyzed over case and inside of case. The study identifies three categories of associations—innovative

Is users, enlightened is users and reluctant is users—with respect to is digestion, and describes strategic and authoritative components characteristics of each gathering. The study additionally traces the evolution of the is application portfolio in each of the studied firms and analyses going with changes in strategic and association elements. To put it plainly, the paper presents an integrated and first level investigation of strategic and authoritative imperatives that have influenced the osmosis and evolution of is in indian associations.

Viswanathan and pick examined the issue of e-commerce in india and mexico from the framework of developing countries as suggested by tallon and kraemer. The framework included basic components that may affect the dispersion of e-commerce. The elements are government approach, legal framework, technology infrastructure, relationship with developed economies and extent of e-commerce usage by individual, corporate and government. The study\’s essential center is on india. Mexico is analyzed more briefly, and compared with india based on normal international datasets. The examination and the information presented in this paper represent a synthesis of information from secondary research and information from interviews conducted with senior executives in the it business in india and mexico. The study suggests that significant efforts have to be made to invest in telecommunications infrastructure, and to create a culture of electronic payments and e-commerce usage that will bolster economic development.

Dasgupta and sengupta paper on e-commerce in indian insurance industry discusses the features of e-insurance in examination with the conventional offline insurance service. The creators set forth that e-insurance offers benefits, for example, reduction in search cost and hidden cost, price correlation for customers, and benefits, for example, chance to have niche market, first mover advantage and item packaging for insurance companies going online. Further, it discusses that status of e-insurance in india is still formative stage, yet stands to pick up especially from the rustic markets since the accessibility of insurance agent is very less compared to urban markets. The study is conceptual in nature and offers bits of knowledge based on market reports and information from secondary sources.

Vishwasrao and bosshardt used a theoretical framework developed by katz

What\’s more, shapiro (1987) to examine the continuous technology appropriation behavior of foreignowned and domestic firms. Firm level information on 14oo medium to large indian firms from 1989 to 1993 was used to test the model. Probit and poisson estimation was used to analyze the information and model. Variables included in the study are no. Of coordinated effort, nature of cooperation—foreign or otherwise, firm age, absolute assets, complete sales, net benefit, herfindhal index, r&d expenditures by industry as percentage of sales. Results of the study toss some interesting light on technology reception behavior of foreign firms. In general, it demonstrates that liberalization happened in india after 1991 has positive effect on technology selection, however it is found that foreign firms are speedy to take advantage than domestic firms. Research and development expenditure is observed to be not critical for technology selection, firm size (large firms are more likely to receive) and age of firm are observed to be noteworthy. Likewise it is found that foreign firms embrace new technology when benefits are down, and doesn\’t receive technology in competitive markets.

Lal studied the determinants of reception of information technology (it) in

India. The study was based on 59 electrical and electronic products fabricating firms situated in noida. Semi-structured questionnaire were used to collect the information. The study examined the elements influencing the degree of it selection by firms. The components included are entrepreneur characteristics measured by entrepreneur\’s capability, importance given to market share, r&d and quality consciousness, association\’s international orientation variables measured by import and export intensity, work force aptitude and firm size. The sample firms were divided into four categories depending on their intensity of it use, these are:

(1) non-it (firms that don\’t use it devices);

(2) low-level of it users (firms utilizing mis for office robotization);

(3) moderate level of it users (these organizations have adopted cad/cam notwithstanding

Mis); and

(4) abnormal state of it utilizing (firms that have adopted fms notwithstanding

Computer aided design/cam and mis).

Ordered likelihood model (probit) was used since the dependent variable is categorical and takes after ordinal positioning scale. The estimates were obtained by greatest likelihood method. The study found that entrepreneur\’s capability, importance given to market share, r&d, export intensity, work force ability and firm size influence the degree of reception of it by the organizations.

Aside from the studies mentioned above, there are quite modest bunch of research reports and survey based studies done by internet and mobile association of india, imrb international, data

Screen, and internet and online association which presents with quantitative figures, the status of e-commerce existing in the nation.

6. Definitions of e-commerce

A considerable lot of the verifiable and explicit definitions of e-commerce rely on past experience rather than on possible futures. There are different approaches to define e-commerce by different people, different books or different parties.

E-commerce is a general term for a business, or commercial electronic exchange that involves the transfer of data over the internet. Then again we can say that e-commerce is defined as the use of computers and electronic networks to lead business with other businesses or with customers over the internet or another electronic network. Since there are different definitions of e-commerce, the united nations conference on trade and development (unctad, 2ooo) has summarized the descriptive definitions of electronic commerce as stated below:-

6.1 definition by u.s. executive office of the president

E-commerce is commercial interaction over the internet, which can lower costs significantly and encouraging new types of commercial exchanges. As the internet empowers citizens and democratizes societies, it is likewise changing exemplary economic standards. New models of commercial interaction are developing as businesses and consumers participate in an electronic marketplace and reap the resultant benefits. The internet can possibly revolutionize commerce and other areas. The internet will revolutionize retail marketing. Commerce on the internet could add up to tens of billions of dollars by the turn of the century. (unctad, 2ooo)

6.2 definition by european information technology observatory

Electronic commerce is the doing of business activities that lead to an exchange of value crosswise over telecommunication networks. (unctad, 2ooo)

6.3 definition by organization for economic co-operation and development

(oecd)

E-commerce refers generally to all types of exchanges relating to commercial activities, including both associations and people that are based upon the processing and transmission of digitized information, including text, sound, and visual images.

(unctad, 2ooo)

6.4 definition by european commission

Electronic commerce is about working together electronically. It is based on the electronic processing and transmission of information, including text, sound, and video (unctad, 2ooo).

It encompasses numerous diverse activities, including electronic exchanging of merchandise and services, online delivery of computerized content, electronic asset transfers, electronic share exchanging, electronic bills of replenishing, commercial barters, collaborative design and engineering, online sourcing, open procurement, direct consumer marketing, and aftersales service (european commission, 1998). It involves both items (consumer products, specialized medical equipment) and services (data services, budgetary and legal services); customary activities (healthcare, education) and new activities (virtual shopping centers).

6.5 definition by ministry of international trade and industry, japan

“. . . Electronic commerce, which has been limited to a number of specified companies, is entering a new era where numerous unspecified persons, including general consumers, are involved on the networks. Likewise, its contents have come to include not just simple exchanges of information concerning placement of orders or order acceptance additionally to general commercial acts, for example, attention, advertisements, negotiations, contracts, and reserve settlements.” (unctad, 2ooo)

6.6 definition by transatlantic business dialog electronic commerce white paper

Electronic commerce, defined basically, is the commercial exchange of services in an electronic arrangement. (unctad, 2ooo)

6.7 definition by mimos, malaysia

The researcher has conducted interview with few it experts from mimos berhad, malaysia and gets the accompanying definition by them. E-commerce expands on the structures of customary commerce by including more flexibility with computerized business exchanges utilizing the internet, networks, and other advanced technologies.

6.8 definition by malaysian international chamber of commerce and industry

E-commerce will be commerce that is transacted electronically over the internet, for example, execute or facilitate the selling of items or services online (micci, 2oo6).

Among every one of the definitions, the researcher imagine that the definition by european

Commission is the best one as its covers all the scope of e-commerce. Simply, the researcher can conclude that the e-commerce is working together electronically, with the use of electronic transmission mediums (over computer or electronic networks).

7. Evolution of commerce

Commerce has evolved over the centuries. Before the evolution of money it was the simple “barter process” where things could be exchanged, say milk for grains. The evolution of money carried with it, the concept of a “marketplace”. In a marketplace, commerce is capacity of 4 p\’s – product, price, place and promotions. All these four components assume an imperative role in an exchange to take place. Different mixes of 4ps determine different types of commerce. Once the marketplace came into existence, a few pioneers realized that

People would be ready to pay extra on the off chance that they could deliver items at the customer\’s doorstep. A slight change on price and place led to the convenience of getting items at their homes. This concept delighted the customers and accordingly, the concept of “street vendors” was conceived.

When the postal system came into being the sellers decided to take advantage of the new

Opportunity and started utilizing mailers giving description of their items. It led to the concept of “mail order cataloging”. From here, the evolution of the “tele shopping” networks was consequently inevitable with the development of media vehicles. The latest generation of commerce is one that should be possible over the internet. Internet provides a virtual stage where sellers and buyers can come in contact available to be purchased and purchase of merchandise and services. They can be a great many miles separated, may belong to different parts of the world, may speak different languages, “e-commerce” emerged as the limit less trade

Medium in the era of globalization

8. Conceptual framework of e-commerce in india today e-commerce is an apothegm in indian society and it has become an integral piece of our day by day life. There are websites giving any number of products and services. Then there are those, which provide a specific item alongside its allied services.

A. Multi product e-commerce

Some internet entrances provide all categories of merchandise and services in a single site; hence, they are targeting buyers of every possible item/service. The most well known examples are www.flipkart.com, www.shopclues.com, ebay.in, www.snapdeals.com, www.indiaplaza.com, www.thebestofindia.com, www.homeshop18.com, shopping.rediff.com, shopping.indiatimes.com et cetera. These indian e-commerce entryways provide products and services in a variety of categories like:

• apparel and accessories for men and women

• health and beauty items

• books and magazines

• computers and peripherals

• vehicles

• collectibles

• software

• consumer electronics

• household appliances

• jewelry

• audio/video entertainment merchandise

• gift articles

• real estate and services

• business opportunities

• employment

• travel tickets

• matrimony

• pets… and then some.

B. Single product e-commerce some indian entries/websites deal in a specialized field, for example

automobiles:

Examples are: http://www.indiacar.com/and http://www.automartindia.com/.

On these sites we can purchase and sell four-wheelers and bikes, new and additionally used vehicles, online. Some of the services they provide are:

• car research and reviews

• online evaluation

• technical specifications

• vehicle insurance

• vehicle finance

• dealer locator

• regional transport office regulations

• expert speak

• message board… and that\’s only the tip of the iceberg.

stocks and shares and e-commerce

In india today, we can even deal in stocks and shares through e-commerce. Some of the sites are: http://www.equitymaster.com; http://www.5paisa.com.

Some of the services offered to registered members are:

• online purchasing/dealing of stocks and shares;

• market examination and research

• company data

• comparison of companies

• research on equity and mutual funds

• tracking market trends

• hotline for advice on risk management

• 24-hour helpdesk… .and that\’s only the tip of the iceberg.

real estate and e-commerce:

Entries like http://www.indiaproperties.com/, www.99acres.com facilitate online dealing in real estate. They offer either out and out purchase or lease of a property through their entryway. They provide data on new properties and in addition properties for resale. One can deal directly with developers or builders or through advisors and brokers.

Allied services:

• housing finance

• insurance companies

• architects and interior designers

• nri services

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