0000027287 00000 n Electronic data interchange (EDI) was the first approach used for information-sharing and business transactions; it began in the 197()s and predates the Internet. The banking industry is a pioneer in using EDI for intra-bank transfer of funds using the SWIFT network. Government websites often provide a wealth of information which is extensively used by various stakeholders, such as foreign and multilateral agencies, officials, researchers, and most importantly by their own citizens. The advent of the Internet and web-based technology has brought down the distinctions between traditional marketplaces and the global electronic market-space. Integration of information technology also allows businesses to estimate lifetime value of customer (LVC) that may be used to facilitate business decision making. Further up the ladder, offshore IT-enabled services (ITeS) included trouble-shooting by BPO agents, such as the discretion to enhance credit card limits. Distribution channels are often elaborate and market intermediaries play a crucial role in sales transactions. This has transformed Asia into an emblem of borderless economy. 0000004581 00000 n Commerce is a basic economic activity involving trading or the buying and selling of goods. However, in an electronic market space, the emphasis is on information and communication technologies, such as continuous updating of websites, and on satisfying customer needs. Advent of electronic technology and Internet facilitated real-time interaction and information-sharing between the businesses and their various stakeholders, especially the customers and suppliers that made it possible to integrate manufacturing systems to produce customized products for different customers. China has the highest number of Internet users’ (221 million), followed by the US (216 million), Japan (87.5 million), India (60 million), Germany (53.2 million), UK (40.4 million). In technical terms, there is hardly any difference between the Internet, the extranet, and the intranet. Integration of ICT finds wide applications in a range of business activities, including the following: In traditional auctions, buyers and sellers gather at an agreed place, often the auction house, at a pre-determined time. Besides, it is easy to use and it involves extremely low transaction costs. endstream endobj 77 0 obj<> endobj 78 0 obj<> endobj 80 0 obj<> endobj 81 0 obj<>/Font<>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 82 0 obj<> endobj 83 0 obj<> endobj 84 0 obj<> endobj 85 0 obj[/ICCBased 94 0 R] endobj 86 0 obj[/Separation/Noir 85 0 R 95 0 R] endobj 87 0 obj<> endobj 88 0 obj<> endobj 89 0 obj<> endobj 90 0 obj<> endobj 91 0 obj<> endobj 92 0 obj<>stream Japan is the global leader in m-commerce. E-business models offer flexibility in price determination in several ways, such as buyer-determined customized pricing, dynamic pricing by way of online auctions, unlike the traditional fixed-pricing approach. 0000005301 00000 n In a traditional marketplace, the evaluation of alternatives is greatly influenced by one’s peer groups, family members, friends, and publicity through word of mouth whereas in an electronic market space, the virtual community has taken up the role of traditional reference groups. Essay # 1. This is the traditional business model wherein websites are used only as a company brochure. The e-marketing firms enable customers to customize the products of their own choice. framework definition: 1. a supporting structure around which something can be built 2. a system of rules, ideas, or…. The basic concepts of e-commerce, e-business, and m-commerce are discussed below. Increase in availability of information online on the public domain augments the chances of its copying by the competitors who make its use for their own benefits. For instance, airlines, railways, tour operators, etc., provide online booking that bypasses traditional market intermediaries, such as travel agents. 79 0 obj<>stream Electronic payment system (EPS) refers to a system of financial exchange between buyers and sellers in the online environment that is facilitated by a digital financial instrument (such as encrypted credit card numbers, electronic checks, or digital cash) backed by a bank, an intermediary, or by legal tender. Image Guidelines 5. purchase habit. Application of e-business between government agencies with businesses may be categorized under government to business (G2B) or business to government (B2G) e-business. <<681abdda22a49a43a2ff99b8755cef8f>]>> From a policy perspective, electronic delivery of goods is the most challenging aspect. Since the Internet can be accessed from across the world, there is no single binding legal framework. Governments often use ICT to enhance interaction with their citizens under citizens to government (C2G) or government to citizens (G2C) models. startxref The ICT has revolutionized the ways services are offered breaking the geographical boundaries. The process changes brought out by digital technology in international trade documentation system have also been explicated. India witnessed the world’s highest growth of 37.5 per cent—from US$8.5 billion in 2000 to US$41.7 billion—in 2005 among the top 30 major exporters of ICT-enabled services, as depicted in Fig. EDI had generally been used to eliminate paperwork in supply chain management and getting regulatory clearances from government authorities. conceptual framework is proposed in Section 4.5 and conclusions are drawn in Section 4.6. A number of countries have introduced Electronic Trade Document System (ETDS) for export- import transactions, which facilitates online submission of applications to various government agencies for regulatory approvals, electronic payments, and receiving online approvals and clearances. 19.2, consists of basic 4Ps of marketing, i.e., product, price, place, and promotion. HMV’s HamaraCD(dot)com enables customers to customize their own CD with their own titles. Besides, banks compete with each other to offer a variety of value-added services to their customers, such as checking their balances, account statements, fund transfers, bill payment, transactions in the stock and commodity markets, customer service, etc. Global e-marketing and e-services have been separately discussed at length. However, e-marketing transactions are less popular in product categories that need to be physically touched and examined by the buyers, such as clothes, furniture, etc. The use of ICT is gaining significance as a strategic tool to increase productivity, reduce costs, enable mass customization, and encourage greater customer participation. Prerequisites Transactions 4. 0000003928 00000 n It is believed that the wireless m-commerce may surpass the wired e-commerce for digital commercial transactions, as the content delivery over wireless devices become faster, scaleable, and more secure. vi. A conceptual framework of entrepreneurial learning as an experiential process related to entrepreneurial learning: (1) increased effectiveness in opportunity recognition, and (2) increased effectiveness in coping with the liabilities of newness. The diverse geographical spread of customers may render product delivery difficult, especially in the countryside where the ‘Brick & Mortar’ model is more effective. Recruitment is the method of searching and hiring the best-qualified aspirant from inside or outer side of a business for a job opening, in a timely and cost effective manner. LVC refers to the estimate of potential profit a company is likely to derive from a customer during his or her lifetime. Fig 4.1 Electronic Commerce: A conceptual framework Electronic Commerce Application Services The application services layer of e-commerce will be comprised of existing and future applications built on … iii. Global E-Marketing 10. Policy Framework for Global E-business: Essay on the Introduction to Global E-Business, Essay on the Conceptual Framework of Global E-Business, Essay on the Prerequisites for Effective Global E-Business Transactions, Essay on Global E-Enabled Business Process Transformations and Challenges, Essay on Global E-Business Technology and Environment, Essay on the Alternative Global E-Business Strategies, Essay on the Policy Framework for Global E-business. Get information about the manufactures of the products and brands around the world, ii. The advent of the Internet and the World Wide Web has fostered a ‘hypermedia’ environment making it possible to deliver targeted messages to specific audiences. A business enterprise generally adopts a uniform strategy for a given market segment. Internet websites also provide links with other websites that help customers gather more information. This has led to not only customer- oriented marketing but also to customer-initiated marketing. Traditionally, firms used to push advertisements to the customers, generally as a mass communication tool. Companies are progressively integrating ICT in their traditional ways of doing businesses and moving towards e-business to achieve competitiveness. Telephone directories, the so-called ‘white pages’ containing private telephone numbers and the ‘yellow pages’ for businesses have widely been used to locate a person or a company. Plagiarism Prevention 4. The B2B transactions enable suppliers to interact and transact directly with buyers, thereby eliminating intermediaries and distributors (Fig. Companies are increasingly off shoring knowledge intensive activities such as engineering drawings and design, marketing, research, legal services, etc. A conceptual framework of e-commerce, as shown in Fig. Read this essay to learn about Global E-business. It is an Internet-based network between a business enterprise and its suppliers, distributors, and business partners which is not open to the general public. Direct customer interaction requires BPO workers to handle more elaborate transactions with a client’s customers. 0000008897 00000 n Since e-commerce differs from normal trade in goods, the tirade policy requirement also differs for transactions involving digital transmission. Conventional marketing communications stimulate market demand via conventional media, i.e., advertisements in print media, radio, or television. Buyers can place their offer for bidding and set the prices. H�|Wے�� }ߏP�#7��7^�T���u�vUv�J��.ٳC�C�y�x����[�4�b�S�Ғ4��7����J�֛e��f�*��sjc��r��3]�ֻ���c��F:3V�����y�IV� Airlines and railways across the world are selling tickets online, some are even offering discounts to direct customers and cutting commissions to travel agents. Workforce with IT proficiency so as to manage and sustain the e-commerce system, i. REFERENCE Haim, A., & Zubidat, A. E… The phrase ‘brick and mortar’ refers to tangible physical assets, such as a manufacturing unit or building, or a storage facility. A legal framework governing e-commerce transactions (including electronic documents, signatures, and the like). 0000002460 00000 n A robust and reliable internet infrastructure. A reverse price is the lowest price a seller is willing to accept. Since intranet and extranet can be viewed by specific groups, these also form subsets of Internet. Advent of the Internet and world-wide web offers cost-effective alternative to proprietary and value-added networks, ii. Floppy diskettes, CD-ROMs, tapes, memory sticks or pen drives, hard disk drives. iii. Report a Violation, Essay on the Evolution and Growth of E-Commerce Business, Internet Marketing: Meaning, Components and Other Details, Political Environment and International Business. were subjected to customs duties in the importing countries. Therefore, a specific trade policy is required for international trade electronically. E-business usually enhances three primary processes: Production processes, which include procurement, ordering and replenishment of stocks; processing of payments; electronic links with suppliers; and production-control processes, among others Customer-focused processes, which include promotional and marketing efforts, selling over the Internet, processing of customers’ purchase orders and payments, and customer support, among others. For instance, Hewlett Packard (HP), IBM, Cisco, etc. It includes tendering by the buyers, inviting suppliers to put forward their bids. The Internet has greatly facilitated the proliferation of B2C e-commerce during the recent years. Although electronic surveys are cost-effective and quick, the sample surveyed may not be representative of the population and may lead to faulty inferences. 3. The traditional approach to marketing calls for market segmentation, i.e., dividing the customers into sub-groups, who would respond similarly to a given marketing strategy, and target a group of customers with a uniform marketing strategy. Business to business (B-to-B or B2B) transactions account for about 80 per cent of total electronic transactions and are predicted to move faster compared to the B-to-C segment. Unlike the linear communication that follows a scripted flow, hypermedia communication over the Internet allows a free flow and exchange of information. The Economist Intelligence Unit finds India a shining example of an emerging market for its famed IT-enabled services sector that contributes significantly to its economy. Some of the changes brought about by e-business are summarized below: The Internet has transformed the traditional ways of buying and selling of goods at physical marketplaces into virtual market-space enabling almost unlimited movements beyond physical borders. Third-party networks for communication. It includes the use of technology for online buying and selling and to forge and foster linkages with various stakeholders, such as customers, suppliers, government, and other business partners. Consumption taxes are important sources of revenue for developed countries; therefore OECD countries decided to impose VAT at a 1998 conference in Ottawa, whereas developing countries are more dependent on customs duties and moratorium on customs duties on digitized products has caused significant losses. 0000000836 00000 n Authentication authority that serves as a trusted third party to ensure the integrity and security of transactions, i. In an e-business-based marketing system (Fig. Auctions facilitated at a portal, such as eBay, which allows online real-time bidding. A conceptual framework of e-commerce, as shown in Fig. 0000011725 00000 n In traditional marketing systems, customers gather information through either internal or external sources, including peer group discussions, company brochures, etc. The World Wide Web has transformed the entire world into a virtual local market. EDI has been the dominant technology used by large business firms, such as Wal-Mart, Ford, Suzuki, General Motors, etc., to exchange information with its business partners, especially for managing supply chains. Content Filtrations 6. Peer-to-peer systems, such as the Napster Model, a protocol of sharing files between users used by chat forums, and other file exchanges. )�Rq�����,An�rF{�ͬ�K]"���na�����z��J�a��WF�?��*�,�1���˼:��2?֞r2P�q�lj ���%ENH]Zd ���D��Ҝ�H�4P�n�1@��ť�`0�1\\Ҁ,��%�"Jp)�4(�� U�e��s�HA 0(R ���Z@���(�!�r`;�x�dY���rP�3B�����U&FOf��)M���ZlD�X*[v�N�e� i3F=Nl���ѩH3�< Learn more. The work programme includes issues like characterization of electronic transmission as goods or services or something else, market access involving the method of application of customs duties to electronic transmission, classification of digitized products under the existing Harmonized System (HS) of trade classification, rules of origin, standardization; development dimensions involving the effect on revenue and fiscal positions of developing countries in future, etc. The original FRCF will be used in this research even though it has undergone several revisions since inception. Sellers may post an item they wish to sell along with a minimum price and the deadline to close the auction. The objectives identify the goals and purposes of financial reporting and the fundamentals are the underlying concepts that help achieve those objectives. B2B e-marketing brings together a large number of buyers and sellers who provide demand side economies of scale and network effects. To communicate with various stakeholders, businesses traditionally used various methods of ‘linear’ communication such as print media (i.e., newspapers, magazines, journals, etc. Internet or Interconnected Network began as a sponsored project to link computing systems by the US govern­ment. Global E-Business Applications: Essay # 8. Users may online access detailed information upon entering the desired fields. M-business facilitates interaction among business stakeholders with the World Wide Web, irrespective of location-specific context. Conceptual framework Research on institutional work is one of the major strands of institutional theory that have emerged in response to the criticism (e.g. Abstract The recent boom in the new economy of internet based commerce has created a large number of firms with a variety of business models that aim to leverage the power of the internet to further their business … Traditionally the marketing firms used customer purchase history to create customized offer. The traditional marketing strategy requires dividing the heterogeneous universe of customers into homogeneous sub­groups, known as market segmentation, who would respond more or less similarly to a given marketing strategy. It has transformed the markets from ‘physical marketplace’ to ‘virtual market-space’ leading to basic alteration in the consumer-decision process. Moreover, since integration of ICT with business operations provides a level playing field, it enables small and medium enterprises (SMEs) to compete with large and capital-based businesses. It is estimated that the major items purchased online include books (58%), music (50%), software (44’yo), air tickets (29%), PC peripherals (28%), clothing (26%), videos (24%), hotel reservations (20%), toys (20%), flowers (17%), and consumer electronics (12%). Such firms are also known as ‘dotcoms’ or ‘pure-plays’. However, businesses going online face several challenges, including: i. Personal computers, modem or broadband connections, televisions and set-top boxes. The theoretical framework leads into the conceptual framework, which is a specific exploration of an aspect of the theoretical framework. The decision to select a seller for a purchase is traditionally based on the previous experience of the buyer with the seller, his/her proximity, range of products offered, and the price charged. GE’s former CEO, Jack Welch brought out a 70:70:70 visions, which mean GE would outsource 70 percent of its work, 70 percent of that will be off-shored and 70 percent of the off-shored tasks, will be done from India. Dictation software, digital cameras, scanners, etc. 0000003194 00000 n evolved models so that their e-marketing activities became complimentary, rather than competitive, to the traditional marketing model. E-business integrates traditional business practices and information systems with the world-wide reach of the web and connects its various stakeholders. These intermediaries relay customer requests to the marketers without divulging personal information and block unwanted offers. As such trade is rising rapidly without any global regulatory framework and hardly any national or international legislation. Businesses that fail to recognize the rapidly growing competitive strengths of rivals as a result of technological integration are likely to vanish, as illustrated in Exhibit 19.1. Thus the information which could earlier be updated only at the time of printing a new or revised directory has become dynamic in nature. An electronic transaction primarily involves three stages, i.e., searching and deciding upon products to be bought, ordering and making payments, and delivery of products bought. Earlier, EDI used proprietary-dedicated networks to transmit highly structured machine-readable data. The advent of the Internet, which interlinks millions of networks across the world and offers a much wider platform for business transactions at a global scale, has largely replaced the earlier EDI systems. E-governance has significantly contributed to transparency and efficiency in public administration. A corporate Intranet so that orders are processed promptly and efficiently, iii. Alternative Global E-Business Strategies: Essay # 11. Services which require face-to-face interactions, such as healthcare, wherein the doctor would physically need to medically examine the patient or aesthetics wherein a beautician needs the physical presence of his/her clients are also not effectively sold over the Internet. This conceptual framework has evolved into the current standard for classifying e-business indicators and is widely used, for instance by Eurostat (Deiss 2002) and in the OECD Technology Outlook (OECD 2002). The paper aims to develop a theoretical framework of e-business competitiveness. Earlier, the marketers used to initiate the marketing activities, but the breakthroughs in ICT have metamorphosed the marketing system, enabling customers to initiate marketing activities. It also includes the strategic adaptations of business practices integrating the use of technology. Carry out comparison of product features, quality, prices, etc., from a variety of sources, iii. Global System for Mobile (GSM) communications accounts for 85 per cent of world’s mobile connections. In addition to information provided, governments across the world are evolving new systems to integrate technology for providing value-added services. The conceptual framework that facilitates readers to understand e-enabled business systems vis-a-vis traditional marketing systems has been examined. Principal e-business models (Fig. Internet can be accessed round the clock from all over the world. An automated manufacturing system integrated through computer technology is known as computer integrated manufacturing (CIM). These processes have made Dell Computers the largest seller of PCs in the US. After analysis of e- business diversity, conceptual model illustrating the competitiveness of e-commerce as one of the most important activities of e The commercial sites of pure click companies, such as amazon(dot)com and Indiatimes(dot)com, sells books and other products. In Internet transactions, the payment is usually through credit cards but delivery mechanisms differ, depending upon the product type. As most businesses are making their online presence, the market competition has grown multi-fold from local to global level. 19.6, with an overall score of 8.95 on a 10-point scale, followed by Hong Kong (8.91), Sweden (8.85), Australia (8.83), Denmark (8.83), Singapore (8.74), and the UK (8.68), whereas Germany has a score of 8.39, Japan 8.08, South Africa 5.95, Brazil 5.65, Thailand 5.22, India 4.96, China 4.85, Russia 4.42, and Iran 3.18. Unlike the traditional marketing approach, which is based on customer segmenta­tion, e-marketing enables a company to target an individual customer, i.e., a ‘segment size of one’. The industrial era was known as the era of information asymmetry. Such ‘pure- click’ firms include search engines, commercial sites, Internet Service Providers (ISPs), transaction sites, content sites, and enabler sites. Moreover, some site also allows addition of conditions of sales and product photographs. vii. This article defines the meaning of conceptual framework and lists the steps on how to prepare it. E-Commerce could even result in a breakdown of human relations because of all the transactions being carried out through the internet. 76 0 obj<> endobj It combines technology and world-class retailing aimed at gaining customers and offers a wide assortment of products round the clock. Thus, in simple terms, e-business refers to integration of ICT with business processes. Introduction to Global E-Business: Essay # 2. It refers to an internal private network used to link various divisions of a business around the world into a unified communication network using the same types of software, hardware, and connections as the Internet. 0000005365 00000 n This not only increases transparency in prices but also pulls down the prices. iv. It also provides an overview of the world’s most prominent investment locations for online operations. ii. Dell computer sells personal computers directly through the Internet to its global customers on a ‘build to order’ basis rather than a ‘build to forecast’ basis. While some use e-commerce and e-business As the prices have become more transparent through the Internet, it has increased price pressures on undifferentiated commodities. A conceptual framework is a system of concepts, assumptions, expectations, beliefs, and theories that supports and informs research (Miles & Huberman, 1994; Robson, 2011). Each additional incremental participant in the e-market creates value for all participants in the demand side. However, in the electronic market space, sellers often attract buyers by way of creating interesting websites, offering competitive prices, and superior purchasing experience so as to induce purchase decisions. Although it provides a good medium for electronic transactions, not everything can be sold effectively over the Internet: i. ��1�wy{�E���/�ob. The original project in 1969 was called ARPANET, the grand-parent of today’s Internet. A corporate website with e-commerce capabilities so as to conduct secured transactions, ii. It also requires the professional accountant to: (a) exercise professional judgement; (b) remain alert for new information or changes to the facts or circum… Business to consumers (B-to-C or B2C) is the second largest and the earliest form of e-business, the origin of which can be traced to e-tailing or online retailing. Bids are usually placed over and above the reserved price set by the seller until the biding stops at a higher offer rate and the final bidder makes claims to the goods. It also facilitates the transfer of hypermedia-based files, allowing links to other pages, places, or applications. Besides, a large number of online directories allow users to update their entries any time they wish, irrespective of their geographical locations. Global E-Enabled Business Process Transformations and Challenges: Essay # 5. E-manufacturing involves Computer-Added Designs (CAD), robots, automated guided vehicles. This paper proposes a conceptual framework to assess strategic IT investments for e-business. Privacy Policy 8. Conduct of marketing transactions, such as buying, selling, distributing or delivering goods or services using electronic methods is termed as e-marketing. It can be applied in different categories of work where an overall picture is needed. 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