Business Proposal
This report prepares a business proposal in which BTFC need to improve the business technology by addressing the different aspects of the business. BTEC is an Australian owned small business enterprise that deals in web operation by assisting other companies in organizing trade fairs exhibitions. This report will identify the e-commerce model which company has adopted to position its company in the competitive environment. In addition, this report also highlights different aspects related to the e-commence business such as driving revenue, addressing security issues, privacy and ethical concern, addresses e-marketing requirements, etc (Laudon & Traver, 2013). These all aspects are required to be addressed by the company in order to improve and develop their business operations and activities. Thus, this report will also highlight legal issues, customer service issues that the company need to address for achieving success for the proposed system and after that proposed system will be measured by using essential tools and metrics.
Discussion
E-commerce Business Model
BTFC uses an efficient e-commerce business model i.e., the Business to Business model (B2B) which help the company to target Australian businesses to develop business relationships. Business to Business model (B2B) is efficient for BTFC for managing the business activities as well as promoting the business by conducting trade fairs for the Australian businesses. In addition, it is also identified that BTFC wants to improve its relationship with suppliers and exhibitors and for which company wants to develop and adopt e-business technology which helps the company in improving the company’s operations. According to Wang, et al., (2016), e-commerce is the best source to develop and grow the business in the competitive market environment. The business of BTFC is to assist the other companies in organizing the exhibition and fairs efficiently for which BTFC provides value-added services to the exhibiting companies. However, it can also be stated that the Business to Business e-commerce model is suitable for BTFC in maintaining and developing a relationship with Australian based exhibitors who deal in trade fairs.
Revenue was driven from e-commerce business
E-commerce businesses will drive the revenue from different sources by constructing or organizing a big trade fairs program where a large number of companies will exhibit their products and services as well as promote their business. The B2B company can drive their revenue by using the online revenue model with the help of e-commerce businesses can prepare a digital marketing plan in order to target the selected segment of clients or suppliers (Lambert & Davidson, 2013). The Revenue model is defined as a model that helps in generating revenue for e-commerce businesses by using different models like the advertising revenue model, subscription revenue model, transactions revenue model, etc.
On the other hand, e-commerce will drive the revenue through the services which its offers to the customers and its clients. There are some common revenue models that will help in businesses at the time of business planning like affiliated marketing will enable the company to earn the revenue by offering the products and services and transaction fee (revenue) model will help the company to charge a fee for the transaction which is made company made (Veit, et al., 2014). However, in subscription-based services, the company will allow the customers or members of the company to access the information by setting a subscription fee on it.
Required network and communication infrastructure
The network and communication infrastructure that will be required for the e-commerce business model is proper internet and intranet connection for sending the messages to the clients and suppliers on time. The network infrastructure of e-business needs to be improved by the company by using authentic and private network infrastructure in order to improve the e-business distribution network and communication channels (McHenry, 2013). In concern to it, the company also need to develop its communication infrastructure for sending information, messages to the clients, suppliers and employees of the company by using internet network for sending e-mails, video conferencing and so on. In addition, the company can use I-way network infrastructure in order to maintain an efficient global communication network.
At the same time, Trappe (2015) also stated that an e-commerce business required a proper network and communication infrastructure so that company gets connected with its suppliers and clients in different countries easily. The network infrastructure for e-commerce business needs to be developed in such a manner that it supports the company to manage its business operations and customers. The required network and communication infrastructure includes proper internet connection, frequent use of e-mails, marketing online, etc. Selecting the right platform for e-commerce is information technology that supports the company in making the best infrastructure decision related to network and communication (Abomhara & Køien, 2014). In the B2B e-commerce business, there is a high need to maintain a strong and efficient communication network as companies like BTFC need to deal or connect with other companies for which they required a proper way to communicate their information and requirements.
Required applications for meeting the e-commerce business goals
For meeting e-commerce business goals, the company is required to use the best applications i.e., hardware and software so that e-business activities can work smoothly and effectively. In respect to this, Strauss (2016) clearly stated that the company need to adopt an effective application program that helps the company to manage a wide range of wok efficiently. Both hardware and software help the company in managing I-way network infrastructure for e-commerce businesses. With the help of this I-way infrastructure, it becomes easy for the company to maintain a global communication network in terms of voice calls, video conferencing or carrying out large amounts of data. This I-way infrastructure is used as a software program as it provides super high speed of internet around the world.
In addition to it, the applications will be required by the company for improving their e-business technology as the application will help the company in providing the customers with 24*7 services (Omondi & Mbugua, 2017). On the other side, it is necessary for the company to adopt the specific hardware and software that helps in configuring as well as support in meeting IT business goals. Both hardware and software technologies are required by e-commerce businesses to secure their overall system and relation with the clients.
Security issues will be addressed
E-commerce business needs to take major action in order to address or overcome the security issues. There are some security issues that are required to be addressed by the B2B Company like user login system, ID card system, and OTP process and so on. In e-commerce, security issues arise because there is online data transfer between the company and its clients or suppliers who work in different countries. Now a day, the company is using various security program which helps in maintain the privacy, integrity and technical attack (Peppard & Ward, 2016). To overcome or address the security issues, e-commerce businesses adopt security systems in their business it system like a login system is implemented in which employees are provided with their own separate login ID and password. This helps in maintaining the security of confidential data which help the employee or company transfer or keep in their system safely. In addition, the company also has provided an OTP system in which customers or clients can log in to the confidential data by receiving a one-time password. This OTP system is the best suitable security system that every e-commerce and banking industry uses to maintaining the security of transactions which is made online.
Address E-marketing requirements
E-marketing requirements can be addressed easily by developing a marketing plan in advance as well as by different digital marketing sources. With respect to this, the e-commerce business is required to use different digital marketing sources such as email marketing, internet marketing, et c are the best suitable e-marketing strategies which will help in meeting out the requirements. In order to meet the e-marketing requirement, e-commerce businesses are required to adopt some e-marketing strategies that help the company to advertise and promote the product and services directly to the customers and other businesses (Pardo & Siemens, 2014). In today’s world of technology, the internet market is rapidly increasing and for e-commerce business, it is the best to source to target the market segment efficiently and effectively. In addition, using the internet and e-mail marketing strategy will help the company in addressing all the e-marketing requirements.
Choice of payment system will be made
In an e-commerce business, there is a large number of facilities which is provided to customers or clients for doing any financial transaction like making payment for the purchase of goods and services. Nowadays, e-commerce business provides different modes of payment system like cash on delivery system, debit card and credit card payment system as well as NEFT, IFRS, REFT are some other payment system modes (Holst, et al., 2015). The e-commerce business is providing various choices to make payments for the products and services which are offered. In like manner, BTEC (e-commerce business) also provide the choice of payment system to its other business clients so that transaction of payment can be made efficiently and online as well as this will result into development of the relationship, trust and loyalty among the businesses. In addition to this, e-commerce business also provides reward points, prepaid cash, mobile banking choices of payments also in order to attract a large number of customers.
Address privacy and other relevant ethical concerns
The privacy and relevant ethical issues will be address by analyzing the IT system and business operation of the BTEC Company. In concern to this, it is identified that there are some ethical challenges which company like e-commerce face in terms of privacy, social media ethics, rules and regulation ethics of different nations and so on (Taddicken, 2014). It is very important to consider all ethical issues which any company can face while operating their business. In addition, privacy issues are also required to be addressed in the e-commerce business for safeguarding the interest of both the company as well as of the other business that is dealing in B2B transactions (Bryman & Bell, 2015). There are some ethical considerations that involve a free will, privacy, and confidentiality while transferring the information, making online payments and so on. Moreover, e-commerce business also addresses the ethical consideration by identifying and determining the factors that affect the business operations directly or indirectly.
Legal issues connected with e-commerce will be addressed
Ecommerce is simply referred to s doing or conducting business online. It involves buying and selling things online. The legal issues connected with e-commerce are as follows:
E-contracts: E-contract is the electronic contract that is governed by the principles which are stated in the Indian Contract Act, 1872. It states that a valid contract should be made with free consent and also for a legal consideration among two individuals. Section 10A of the IT Act provides legal validity to the E-contracts. So both these acts are needed to understand and provide legal validity to these E-contracts (Zhang, et al., 2012). Data protection: It is very essential that when conducting or doing online transactions your data and information provided is safe and secure. The IT Act covers section 43A which adopt the practices and procedures and personal data or information rules providing a framework to protect the data of individuals from being misused. Intellectual property rights: Lots of issues have been reported of misusing the patents, trademarks, copyrights, etc. To use the IPR there is a need for serious approval from the side of the owner of these rights. Cyber Crimes: A lot of cybercrimes are emerging with the increased use of online transactions (Abbad, et al., 2011). For addressing these issues most legal personalities deal with state criminal laws that regulate online transactions or activities. Frauds result such as credit card misuse, computer viruses, piracy, etc.
Customer service issues will be addressed
Every business operates for two main reasons; wealth & profit maximization and providing customer satisfaction. But at times there are issues been faced in providing customer services effectively. Companies should adopt effective measures to provide and treat their customers appropriately. It is essential to provide excellent customer services that will in return help to grow the business further. Ways should be adopted to address the customer service issues (Wang, et al., 2011). Proper and timely feedback should be taken by the customers so that the company can know about where they are lacking and where they need improvements. Live chat is also a widely used option for dealing with customer service issues. It helps the company to interact with its customers in real-time, answer their queries and provide instant solutions. Offer the customer a large number of options that will help the company to turn the customer into a loyal customer. If the customer is purchasing products worth a high price then offer them the option of free delivery that will satisfy the customer more (Huang & Benyoucef, 2013).
The success of the proposed system will be measured
The tools or metrics that can be used to measure the success of the system are as follows:
The conversion rate will help to measure the success in a way that it helps to know the number of visitors that are converted into actual buyers. Another tool used is simply the gross margin that refers to the actual revenue been earned by the business, the amount of money the store has taken over a period of time. The average order value also helps to measure the success in a way that it helps the business to know about the actual time an average customer spends on the website of your company when they place an order (Lawson-Body, et al., 2010). Another way to measure the success is by seeing how many likes your company’s page has on social media sites, or the videos you upload on YouTube.
Conclusion
From the above study, it can be concluded easily that BTEC is using the B2B e-commerce business model efficiently in their company’s operation. This study helped in analyzing and understanding the requirement of e-commerce business in order to improve the business operations successfully. Moreover, this study also helped in determining the source where e-commerce business can drive the revenue and for which proper network and communication infrastructure will be required and develop. Moreover, security issues will be addressed by the company by using different security systems like the OTP system, login system and so on. The proposed system of e-commerce business can also use different measure tools and metrics, like online feedback, Facebook review, etc. At last, it can be summarized easily that e-commerce businesses need to adopt and implement all required majors which are address in this report in order to avoid the issues and achieve the e-commerce business goals.
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