Friday, October 18, 2019
E-Business Case Study Essay Example | Topics and Well Written Essays - 4000 words
E-Business Case Study - Essay Example The internet that has now emerged and matured, presents a paradigm shift in its very ideation. The infrastructure has acquired a business character, a transcontinental personality and a vending framework of wide-ranging, business, educational, scientific and personal data. Now its use covers real-time computer conferencing, audio broadcasting, video broadcasting, real time telephony and of course real-time business. E-business in its simplest form can be described as doing business in electronic form. Electronic business is the extensive use of computers, communication technology, networking technology and computerized data to perform business processes. In other words, e-business is any system of suppliers, distributors, or customers that use the Internet as the basis for their operations. It can range from using e-mail to communicate with customers and/or conduct business to a web page promoting a company, from a full e-commerce retail site to the integration of procedures and proc esses using Internet based technology. It takes its cue from terms like e-mail, e-commerce, e-governance etc. The term "e-business" was coined by Lou Gerstner, CEO of IBM. Today leading online stores and companies have moved beyond the Ã¢â¬Ëone-size-fits-allÃ¢â¬â¢ approach to internet relationship. It is an electronic commerce application used for B2B or B2C. Online shopping has become popular mainly because of its speed and ease of use. Initially users were mostly computer literates, but now the universality of access marks a paradigm shift in e-business operations. E-business is more than just e-commerce. It involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically, handling customer service, and cooperating with business partners. Now the internet e-business portals greet each customer by name and present targeted information and services that correspond to each visitor's unique preferences and requirements. This type of personalized attraction increases customer loyalty, enhances revenue for the company and helps in establishing a valuable database of customers. The internet may be changing the way we do business, but it hasn't altered the fundamentals of human nature. People still respond to personalized services. They want to be treated as individuals and they appreciate intelligent assistance in finding products and services that meet their unique needs. Businesses that understand their customers and cater to their individual preferences benefit in two k ey ways. In the short term, they increase the sales potential of every customer interaction. In the long term, they establish a more loyal customer base. Corporate investments in e-commerce sales and marketing applications continue to climb steadily. With a personalized e-business solution, a company can customize the online experience for every visitor who comes to its internet, extranet, or intranet site. The process is relatively straightforward. Visitor information is accumulated through a registration process and by observing online behavior. Patterns can be analyzed and compared. Market segments can be defined and reliable predictions can be made about the products or services that interest a particular individual or group. Based on this analysis, a unique combination of information and promotions are presented to each user. The click stream behavior of each visitor can be monitored and feedback gathered accordingly. Personalized services can improve efficiency and communication throughout the e-business value chain. Companies can also push targeted content depending on the user's business role and personal preferences, further adding value to the user and strengthening the key business objectives. As is the case with the p ersonal business-to-consumer environment, in this case also the tangible and intangible benefits are quite comprehensible. Information flow can be optimized, so that right information gets to the right person at the right time delivering the right content.