Business

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 Australian owned small business enterprise which deals in web operation by assisting other companies in organizing trade fairs exhibition. 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 on different aspects related to e-commence business such as driving revenue, addressing security issues, privacy and ethical concern, addresses e-marketing requirement, etc (Laudon & Traver, 2013). These all aspects are required to be address 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 which company need to address for achieving a 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 efficient e-commerce business model i.e., Business to Business model (B2B) which help the company to target the Australian businesses to develop business relation. Business to Business model (B2B) is efficient for BTFC for managing the business activities as well as promoting the business by conducting a trade fairs for the Australian businesses. In addition, it is also identified that BTFC wants to improve its relation with suppliers and exhibitors and for which company wants to develop and adopt e-business technology which help the company in improving the company’s operations. According to Wang, et al., (2016), e-commerce is a 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 the value-added services to the exhibiting companies. However, it can also be stated that Business to Business e-commerce model is suitable for BTFC in maintaining and developing a relation with Australian based exhibitors who deals in trade fairs.

Revenue driven from e-commerce business

E-commerce business will drive the revenue from different sources by constructing or organizing a big trade fairs program where 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 help in generating the revenue for e-commerce businesses by using different models like advertising revenue model, subscription revenue model, transactions revenue model, etc.

On the other hand, e-commerce will drive the revenue through its 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 in company to charge a fee for the transaction which is made company made (Veit, et al., 2014). However, in subscription based services, company will allow the customers or members of the company to access to the information by setting a subscription fee on it.

Required network and communication infrastructure

The network and communication infrastructure 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 need to be improved by the company by using authentic and privacy network infrastructure in order to improve the e-business distribution network and communication channels (McHenry, 2013). In concern to it, 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, 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 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.  For selecting a right platform for e-commerce is information technology which supports the company in making the best infrastructure decision related to network and communication (Abomhara & Køien, 2014). In B2B e-commerce business, there is high need to maintain a strong and efficient communication network as company 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, company is required to use 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 company need to adopt a effective application program which helps the company to manage a wide range of wok efficiently. Both hardware and software helps 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 global communication network in terms of voice call, video conferencing or to carry out large amount of data. This I-way infrastructure is used as software program as it provide 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 application will help the company in providing the customers with 24*7 services (Omondi & Mbugua, 2017). On the other side, it is necessary for 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 the 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 which are required to be addressed by the B2B Company like using log in 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, company is using various security program which help in maintain the privacy, integrity and technical attack (Peppard & Ward, 2016). To overcome or address the security issues, e-commerce business adopt security system in their business it system like log in system is implemented in which employee are provided with their own separate login ID and password. This helps in maintain a security of confidential data which help the employee or company transfer or keep in their system safely. In addition, company also has provided OTP system in which customers or clients can login to the confidential data by receiving a one-time password. This OTP system is best suitable security system which every e-commerce and banking industry uses for maintain the security of transaction which is made online.

Address E-marketing requirements

E-marketing requirements can be address easily by developing a marketing plan in advance as well as by different digital marketing sources. In respect to this, e-commerce business is required to use the different digital marketing sources such as email marketing, internet marketing, et c are best suitable e-marketing strategy which will help in meeting out the requirements. In order to meet the e-marketing requirement, e-commerce business are required to adopt some e-marketing strategy which 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, internet market is rapidly increasing and for e-commerce business it is best source to target the market segment efficiently and effectively. In addition, using 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 e-commerce business, there is 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 payment 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 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 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 faces in terms of privacy, social media ethics, rules and regulation ethics of different nation 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 address in the e-commerce business for safeguarding the interest of both the company as well as of the other business who is dealing in B2B transaction (Bryman & Bell, 2015). There are some ethical considerations that involve 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 affects the business operations directly or indirectly.

Legal issues connected with e-commerce will be addressed

Ecommerce is simple referred to s doing or conducting the business online. It involves buying and selling of 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 principals 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. The section 10A of 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 the 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, trade mark, 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 lots of cyber crimes 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 the on-line transactions or activities. Frauds results 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 to their queries and provide instant solutions. Offer the customer with 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 high price than offer them with the option of free delivery that will satisfy the customer more (Huang & Benyoucef, 2013).

Success of the proposed system will be measured

The tools or metric 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 the 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). The 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 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 address by the company by using different security system like 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 business 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.

References

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